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PRESS RELEASE from provider: Globe Newswire
This content is a press release from our partner Globe Newswire. The AP newsroom and editorial departments were not involved in its creation.

Storm Properties Completes Final Phase of Storm Plaza Retail Center, Welcomes Two New Tenants

February 25, 2019

TORRANCE, Calif., Feb. 25, 2019 (GLOBE NEWSWIRE) -- Storm Properties Inc. is pleased to announce the completion of the third and final phase of Storm Plaza retail center and welcome tenants Ono Hawaiian BBQ and San Pedro Fish Grille, which recently held ribbon-cutting ceremonies to celebrate their grand openings. The 5,000-square-foot addition, which includes a drive-thru, brings the development at the corner of Sepulveda Boulevard and Normandie Avenue in Torrance to 40,000 square feet.

Now 100 percent leased, the center is comprised of a desirable mix of regional and national tenants, including CVS Pharmacy, Wells Fargo, Goodwill Store, Buffalo Spot, and Coffee Bean & Tea Leaf. Its location on one of the main thoroughfares in Torrance boasts more than 50,000 cars per day, and more than 230,000 residents within a three-mile radius.

“We are excited to complete the final phase of development at Storm Plaza and to be fully leased to such a great mix of tenants,” said Jay Ahluwalia, President of Storm Properties. “We leased both spaces prior to completion of construction, which demonstrates the demand for quality retail space in the area. We want to thank our Senior Project Manager, Larry Carr, who managed the development of Storm Plaza, and Maryl Haire, who handled project leasing.”

Storm Properties currently manages a diverse portfolio of industrial and retail properties and is targeting significant growth through further acquisitions. Its efforts are focused on core-plus to value-add retail and industrial properties in the $5-million to $30-million range in major Western metro markets. Additionally, Storm is seeking additional land opportunities for residential entitlement and commercial/industrial development.

Storm Properties, Inc. is a subsidiary of Torrance-based Storm Industries, Inc., an innovative and entrepreneurial organization with a growing family of companies. Over its 86-year history, Storm Industries, Inc. has evolved from a single brass foundry in Los Angeles to a highly diversified group of businesses operating across the globe.

For more information, contact Alan Kwan, Senior Director of Acquisitions, at (310) 986-2432, or via email at akwan@storm-properties.com. Also, visit the website at www.storm-properties.com.

Contact: Ann Romano(949) 496-1076/(949) 310-5876 mobile annromano@cox.net

A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/15241794-bf60-43ae-9b47-2c67c0de7b80