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Centennial Awarded Management Contract for The Shops at Montebello


Montebello -
DALLAS – April 11, 2022 Centennial, a real estate investment firm with a national portfolio of shopping, dining, entertainment and mixed-use destinations as well as a full-service property management platform serving third-party owners (www.CentennialREC.com), announced today that its third-party property and asset management division, Centennial Advisory Services, has been awarded the management contract for The Shops at Montebello, a modern super-regional enclosed shopping center in Montebello, California (www.shopsatmontebello.com). Under the contract, which took effect April 7th, Centennial will provide a full spectrum of management, leasing, marketing and accounting services for the shopping center and its new ownership group.
 
“We are especially proud to have been selected as the new management firm for The Shops at Montebello,” says Steven Levin, founder and CEO of Centennial. “While the shopping center will continue to operate as normal, Centennial will immediately begin exploring ways to improve upon the core retail experience, adding enhanced services and capabilities that will elevate the center’s merchandising and placemaking strategies while enhancing value for the center’s new ownership group.”
 
“This property has tremendous potential. Its location, retail tenants, and reputation in the market have positioned it well for growth. With the right vision, The Shops at Montebello can continue to dominate in the retail arena and beyond in this market space,” says Nate Mitchell, Managing Director at Steerpoint Capital, the commercial real estate investment and advisory firm that selected Centennial to manage The Shops at Montebello. “We have seen the tremendous strides Centennial has made with other properties in its ownership and management portfolios, and with its growing development team, we believe Centennial is the right choice to lead The Shops at Montebello into the future.”
 
From strategic merchandising plans to innovative experiential marketing, customized placemaking solutions, community connections and loyalty programs, Centennial has a unique vision for the future of retail real estate that has led to the successful repositioning of retail properties in key markets from coast to coast. The robust services platform Centennial has built – including an in-house property management, marketing and leasing team – perfectly positions the firm to help retail real estate owners navigate today’s complex retail market while also planning for future value creation.
 
Other notable properties that Centennial Advisory Services has recently been tapped to manage include Pacific City in Huntington Beach, California; Dulles Town Center in Sterling/Dulles, Virginia; and Green Tree Mall in Louisville, Kentucky.
 
About The Shops at Montebello
The Shops at Montebello is a modern indoor super-regional shopping center featuring four department stores and more than 140 shops, eateries, and restaurants making it the leader for shopping in East Los Angeles. Located on San Gabriel Boulevard at the Pomona Freeway, and bordered by Montebello Boulevard and Town Center Drive, the two-story center is anchored by Macy’s, Macy’s Home Store, JCPenney, and Forever 21. Brand highlights include H&M, COACH, Old Navy, Victoria’s Secret, Olive Garden, Lucille’s Smokehouse Bar-B-Que, and BJ’s Restaurant & Brewhouse. A spacious Patio Cafes food court, family lounge, community center, charging lounges, and a lively calendar of events are rooted in community, culture, and commerce. For more information, visit www.shopsatmontebello.com or follow the center on Facebook, Twitter and Instagram.

 
About Centennial

Centennial is a real estate investment firm with a national portfolio of shopping, dining, entertainment and mixed-use destinations as well as a full-service property management platform delivered through Centennial Advisory Services, its third-party property and asset management division. Rooted in retail since 1997, Centennial is focused on shaping the evolution of American retail by creating a superior multi-faceted shopping experience through properties that serve not only as a place of commerce, but as a place of community. For more information, visit CentennialREC.com.
 
About Steerpoint Capital
Steerpoint Capital is a commercial real estate investment management and advisory firm focused on executing value-add and opportunistic real estate strategies. Equipped with capital commitments from a diverse pool of partners, ranging from family offices and domestic and international investment funds, SPC’s current strategy focuses on executing adaptive reuse conversions and retail repositioning opportunities in high demand markets within Southern California and Sunbelt States. Steerpoint was founded in 2022 by Bo Okoroji, former Head of US Investments at Unibail-Rodamco-Westfield (URW), to capitalize on pandemic induced conversion arbitrage opportunities in the Hotel, Office and Retail sectors. For more information, visit Steerpointcapital.com.
 
 
Media Contacts:
Deborah Blackford
Blackford & Associates
714-280-8765
 
Karen Franse
Blackford & Associates
386-649-1887
 
Carmen Herlihy
Blackford & Associates
646-770-2623

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The Shops at Montebello
2134 Montebello Town Center Dr
Montebello, CA 90640
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