Present Value Properties Negotiates Menchie’s Lease at Culver Plaza in Irvine
TUSTIN, CA – January 20, 2012 – (RealEstateRama) — Present Value Properties, Inc., a full service retail real estate brokerage, and consulting firm headquartered in Tustin, Calif., announced today that a Menchie’s franchisee signed a lease for 1,427 square feet at Culver Plaza in Irvine, Calif. Present Value Properties is Menchie’s exclusive real estate representative in Southern California.
Ryan Gast, an associate broker with Present Value Properties, represented the self-serve frozen yogurt franchisee, which is slated to open in the summer at 15333 Culver Drive, Suite 360 in Irvine. Ken Park of Green Light Consulting of Los Angeles represented the landlord, The Irvine Company of Irvine.
Located at the northwest corner of Culver Drive and Irvine Center Drive in Irvine, Culver Plaza is a 260,000-square-foot neighborhood center anchored by 99 Ranch Market, CVS/pharmacy, Petco and 24 Hour Fitness.
“We are excited to bring Menchie’s to Orange County at such a prestigious shopping center. Culver Plaza is a premiere shopping center in the Irvine market with an excellent tenant mix,” Gast said.
This is Menchie’s second Orange County lease. In November, the franchisee signed a lease for 1,637 square feet at 1267 N. Tustin Street in Orange, at the southeast corner of Tustin and Katella Avenue. Menchie’s in Orange is expected to open in April of 2012. Present Value Properties represented both the landlord and tenant in this lease transaction. Present Value Properties also recently negotiated new locations for Menchie’s in Whittier, Torrance, Downey, El Cajon, and Northern California. Menchie’s currently has over 100 locations in operation in the US and 50 under construction.
According to Gast, Menchie’s is actively seeking locations throughout the Northern and Southern California markets. Menchie’s is the fastest growing self-serve frozen yogurt franchise worldwide. Menchie’s customers are able to serve themselves the perfect yogurt mix by choosing from a wide variety of delicious flavors, and more than 40 toppings with everything from chocolates, candies, and hot fudge, to granola and fresh seasonal fruit. Customers can mix all of the flavors and toppings they want and only pay for what they take. When they are finished crafting the perfect yogurt, they just place it on the scale and pay per ounce.
“Menchie’s offers the purest and creamiest ‘real’ yogurt flavors, featuring live and active cultures,” Gast stated. “Low in fat, and high in calcium, Menchie’s frozen yogurt makes for both the perfect snack, or a delicious meal in itself. Menchie’s also serves a variety of tasty fruit sorbets, as well as low-carb and sugar-free yogurts, and offers fresh-made waffle bowls.”
Present Value Properties is working with over 25 franchisees in California, representing a total commitment of over 50 stores in the region. In addition to Menchie’s, Present Value Properties exclusively represents a variety of chain retailers throughout Southern California including GoldMax and Southern Pizza Hut. Additionally, Present Value Properties has 650,000 square feet of retail space listed throughout Southern California.
About Menchie’s
Menchie’s creates lasting memories through its mission statement to make every guest smile and by being the friendliest place on earth. Providing an unparalleled guest experience that is warm, welcoming, tasty and fun, Menchie’s stores contain interactive elements such as chalkboards for kids, party rooms, enjoyable music, arts & crafts, and indoor/outdoor seating areas where friends and family gather. Placing a focus on community before commerce, Menchie’s franchisees actively donate thousands of dollars to local school programs and charitable organizations. With its own proprietary frozen yogurt label, Menchie’s guests create their own unique combinations from over 100 rotating yogurt flavors and 70 rotating toppings. In July 2010, Menchie’s was awarded 1st place in Restaurant Business Magazine’s annual ‘Future 50’ list, ranking it the fastest-growing franchise in the restaurant industry. In 2011, the company nearly repeated its top mark, achieving 2nd place on the list. Me nchie’s has 100 locations open, with an additional 120 currently in development, and is poised to total more than 250 locations in 2012. Menchie’s has also begun international expansion, with two stores open in Canada, and has plans to operate stores in Mexico, Puerto Rico, Trinidad and Tobago, the United Kingdom, Egypt, Jordan, Saudi Arabia, Kuwait, Qatar, United Arab Emirates, India, China, Japan, Australia and New Zealand. For more information, including franchising opportunities, visit www.menchies.com.
About Present Value Properties, Inc.
Founded in 1998 by Gregory A. Fisher, Present Value Properties, Inc. is a full service real estate firm providing retailer and landlord representation, development and entitlement services, and consulting services. Headquartered in Tustin, Calif., Present Value Properties exclusively represents a variety of chain retailers throughout Southern California including Menchie’s Frozen Yogurt, Southern Pizza Hut, and Gold Max. Currently, Present Value Properties has 650,000 square feet of retail space listed throughout Southern California. For more information, call 714.464.3000 or visit www.pvpinc.com.
