Cordes & Company

Power center stabilized

Completed in 2008, the property is a “power center” consisting of 500,000 square feet of commercial space located on about 50 acres of land in Chino Hills, California, a suburb of Los Angeles.  When it defaulted on debt owed to a major national bank, Cordes & Company was appointed receiver to address issues prior to foreclosure.  At the time, the property had 12 tenants.  A large home improvement center and hotel had been sold prior to the receivership.  We dealt with multiple tenant issues, including leases in negotiation, amendments with existing tenants, temporary rent abatements, and completion of a fast-food service building.  We resolved significant tenant allowance issues.  We oversaw transition of the property management companies and, ultimately, transition of the property to the secured lender upon completion of the foreclosure sale.

7979 E. Tufts Avenue
Suite 820
Denver, CO 80237
Telephone: 303.721.8755
2677 N. Innsbruck Drive
Suite A
New Brighton, MN 55112
Telephone: 612.455.0985
2030 Main Street
Suite 1300
Irvine, CA 92614
Telephone: 949.379.1202