Hopkins Real Estate Group of Newport Beach, CA announces SamÂs Club to open in September 2003 at The Hub in San Bernardino, CA
Hopkins Real Estate Group of Newport Beach announced that grading is underway at the 250,000-square-foot shopping center, The Hub, located on 23 acres at the northwest quadrant of Tippecanoe Avenue and Interstate 10 Freeway in the City of San Bernardino, CA. The Hub, which will be anchored by SamÂs Club, is the result of more than three years working extensively with the City, the community and various property owners. The HubÂs first phase is slated for opening in September of 2003.
Hopkins Real Estate Group (PRWEB) February 8, 2003 - square-
Newport Beach, California Âfoot shopping center, The Hub, located on 23 acres at the northwest quadrant of Tippecanoe Avenue and Interstate 10 Freeway in the City of San Bernardino, CA.
The Hub, which will be anchored by SamÂs Club, is the result of more than three years working extensively with the City, the community and various property owners. The in-fill site represents an assemblage of nearly 60 separate parcels. HREG collaborated with the City of San BernardinoÂs Economic Development Agency to acquire the parcels and relocate more than 100 residents, several of whom were able to become first-time home buyers.
Tenants at The Hub will enjoy excellent freeway visibility. Additionally, there will be two 50-foot pylon signs for tenant signage. Approximately 169,000 cars per day travel the I-10 at Tippecanoe.
The site previously contained a highly problematic street that the CityÂs Economic Development Agency had targeted for closure. To resolve the traffic problem along the heavily traveled and substandard Rosewood Road, the CityÂs Public Works Department created a more efficient thoroughfare configuration that now runs east to west dissecting The Hub. The new street, Harriman Place, is nearly finished and will provide ease of access from Hospitality Lane to Tippecanoe and the freeway.
The Hub is part of over one million square feet of synergistic mixed-uses including office buildings, hotels, and a new Costco, Staples, Best Buy, Sportmart, Home Depot, Circuit City, OfficeMax, Office Depot and PETsMART. Located one block from the project is the Inland EmpireÂs most successful restaurant row with more than 35 restaurants, which include Tony RomaÂs, Claim Jumper, MimiÂs, TGI FridayÂs, Outback Steakhouse, Red Lobster, CocoÂs, Olive Garden, Souplantation, Black Angus, El Torrito, Crabby BobÂs, ChiliÂs, and IHOP. Many of these high profile restaurants are achieving record breaking sales.
Located 1.2 miles directly north of The Hub is the conversion of former Norton Air Force Base to Alliance*California, a 500-acre plus master-planned project that is currently being developed by the Hillwood Corporation. KohlÂs recently opened its 650,000-square-foot distribution center at the project to support its retail store expansion into the Western United States.
According to City of San BernardinoÂs Mayor Judith Valles, ÂOur Economic Development Agency has worked creatively to strengthen economic activities and enhance the quality of life issues that are so important to both the businesses and residents in our community."
The City of San Bernardino has posted dramatic growth in real estate values, population, job creation and household income in the last several years and retailers have taken notice.
According to Partner Fred Stemmler at Hopkins Real Estate Group, ÂThe Hub has what every retailer wants: a strong and growing population, freeway visibility and convenient access, immediately available space and ground lease parcels.Â
Stemmler continues, ÂWithin The HubÂs trade area, there are currently 758,000 people Â and that number is rapidly increasing. There is a daytime population of 314,000, consisting primarily of managerial and professional specialists, technical, sales and administrative support.Â
CB Richard EllisÂ Tom Swieca, one of the leasing agents for The Hub, says, ÂThe I-10 Freeway provides both unimpeded visibility and easy access to this rapidly growing retail hub located at the intersection of Tippecanoe and Interstate 10. Over 169,000 cars per day pass on the I-10 Freeway, the main east to west arterial linking all areas of the Inland Empire. On Tippecanoe, south of Rosewood, the CityÂs major north to south artery, more than 37,000 cars per day pass The Hub.Â
According to a 2002 study published by the San Bernardino Economic Development Agency, San BernardinoÂs new homes and existing homes sold for all-time high prices in mid-2002. And, the CityÂs retail volume set a record at $2.38 billion in 2001 and $10.4 billion for the trade area.
The report also states that San Bernardino County remains one of AmericaÂs fastest growing areas with its population having risen from 1.7 million to 2.4 million since 1990, up 700,000 people or 38.7%.
ÂWith the opening of The Hub, the residents and day-time population of San Bernardino will have a much broader variety of goods and services available Â more places to shop and fine places to dine,Â says Stemmler.
Stemmler also says that In-N-Out Burger will open this year as an adjunct to The Hub. ÂTweeters has signed a lease at The Hub and numerous letter of intents are currently being negotiated. HREG is also in lease discussions with two national hotel chains and two health clubs chains as well as financial institutions, various local food operators and nationally recognized sit-down restaurant chains,Â reports Stemmler.
ÂHREGÂs goal is to bring economic enhancement to the communities that we serve. We know that the growing community and work force in San Bernardino will benefit from our public-private partnership with the CityÂs Economic Development Agency,Â says Stemmler.
The projectÂs designer is Perkowitz + Ruth Architects of Long Beach. The Ontario office of CB Richard Ellis is handling the marketing and leasing of the project. The HubÂs first phase is slated for opening in September of 2003.
HREG is known in Southern California for the creation of neighborhood and community shopping centers in urban in-fill and redevelopment areas. A leader in public/private transactions, Hopkins also specializes in mixed-use commercial projects.
The Company currently has 12 California projects in development: Whittwood Town Center, The Hub in San Bernardino, five properties in Valencia, Vista del Mar Village in Richmond, Villages of Van Buren in Riverside, Citrus Village in Covina, The Marketplace At Main Street in Corona and Delano Marketplace in Delano. For more information about Hopkins Real Estate Group, visit www. hopkinsgroup. com.
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A Vicinity Map/Site Plan is available via email from monacomm@pacbell. net upon request!
***FOR PHONE INTERVIEW, PLEASE CONTACT:
Fred Stemmler, Partner
Hopkins Real Estate Group