2641, 2651 and 2671 Oswell Street

East Hills Village

This neighborhood shopping center was acquired in 1994 and included a vacant Vons Supermarket Store, a Payless Drug Store (now Rite-Aid) and 39,460 square feet of retail shops. At acquisition, the Payless store was simultaneously sold to an investor. The retail shops were approximately 40% vacant and under-managed as a result of a lender repossession. All shop leases were short-term. Vons (which was under Vons ownership) had vacated to expand their store size.

Since acquisition, all of the shop leases have been renewed and extended. The Vons space has been acquired by PetsMart who opened as a new store. Occupancy in the shopping center is at 100% and major rehabilitation to the center, including new paint, asphalt maintenance, and revised landscaping was completed in 1998.

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