Shopping Center Business

MAY 2015

Shopping Center Business is the leading monthly business magazine for the retail real estate industry.

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Page 182 of 342

178 • SHOPPING CENTER BUSINESS • MAY 2015 intent of long term success." Reliable Properties has arranged sig- nificant equity and capital reserves for its future property acquisitions. "We have patience," says Nourafshan. "We can wait on properties. Sometimes we sit on them until a lease expires or some event happens that allows us to do a major renovation, repositioning or up- grade. We have the luxury that we can do that. Many institutional investors must create a return on a property within a few years. We have a longer term outlook." Because finding properties to acquire or develop has become competitive, Reli- able Properties has launched a program to acquire net lease properties across the country. Aside from its home market of California, Reliable has targeted the mar- kets of Seattle, New York, Boston, Wash- ington, D.C., Atlanta, Orlando, Miami, Chicago, Dallas, Houston and Phoenix for its net lease acquisitions. Reliable has mainly acquired single- or double-tenant retail properties. The company has also acquired ground leases of properties so it might be able to manage, reposition or redevelop in the future. "With net lease properties, we prefer strong location first, with credit second- ary," says Nourafshan. Reliable Properties is currently look- ing for tenants in its existing markets of Riverside, San Bernardino, Rialto, West Covina and San Fernando Valley. Aiding Reliable Properties in all its endeavors is the fact that the company has fully integrated services. Acquisitions, analysis, finance, construction, leasing, marketing, property management, main- tenance and accounting are all done in-house. With 40 years of success, Reliable Properties has been through at least four recessions that Nourafshan can recount. With pricing for centers at a high level, he is careful about acquiring properties that do not make financial sense. Despite various tough times in the economy, the company has always paid its lenders, nev- er ever defaulted and rebounded quickly from each recession. True to its name, Reliable Properties has been a strong part- ner to its tenants, employees and com- munities it has served. SCB Reliable owns Mt. Vernon & Mill Center in San Bernardino, California. The center is anchored by El Super, Anna's Linens, Fallas Paredes and Planet Fitness. We lead the retail marketplace with our fresh approach to interior and exterior large-format LED video. In the last 3 years, we have installed over 100 attention capturing displays at cutting-edge shopping centers throughout the world. Going to ICSC RECON 2015? Contact Ed Wasserman 818-632-1147 Photo: Inter IKEA Centre Group, Wuxi, China INNOVATIVE. CREATIVE. EFFECTIVE. SPECTACULARS S P E C T A C U L A R S

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