Bed and bath retailer Anna’s Linens Inc. has renewed the lease for its Costa Mesa headquarters.
The Costa Mesa-based discounter—which counts about 300 stores and is estimated to have annual sales of about $360 million—inked a 53,164-square-foot deal for two buildings in Costa Mesa’s Harbor Gateway Business Park, at 3550 and 3560 Hyland Ave.
It will be occupying all the space in the two low-rise buildings, which are owned by Costa Mesa’s dominant landlord, C.J. Segerstrom & Sons.
The lease—of unspecified length—is valued at just under $4.7 million, according to brokers that worked on the deal.
Harbor Gateway Business Center is a 75-acre masterplanned business park located about half a mile from the San Diego (I-405) Freeway, near the South Coast Collection retail center.
Anna’s Linens has been in its current location since 2002, said Brian Harnetiaux, leasing manager for commercial brokerage Transwestern’s Costa Mesa office, which represented the tenant in the deal.
C.J. Segerstrom & Sons was represented by Jeff Resse in the lease.
Anna’s Linens employs about 180 people at its headquarters, and 3,000 people companywide.
“It’s rare that a company grows so robustly, yet remains family-owned after almost 25 years, and I am thrilled to help them achieve that,” said Harnetiaux, who has more than a business interest in the company.
He’s the nephew of Alan Gladstone, chairman and chief executive of Anna’s Linens, which got its start in 1987.
The company is “very pleased to maintain our headquarters here in Orange County, where the company was born,” Gladstone said.
Anna’s Linens operates in 22 states and has plans to open 30 new stores this year, including five in Puerto Rico.
The headquarters renewal is the second big real estate deal that Anna’s Linens has completed in as many years, outside of new store openings.
The company inked a deal for a 410,000-square-foot distribution center in Fontana last summer.
The Inland Empire facility is larger than the company’s two other distribution centers in Houston and Charlotte, N.C., and will service 110 stores in the western U.S.
It’s the company’s first distribution hub in Southern California.
Hotel Distress
The owner of a boutique hotel in Laguna Beach has filed for bankruptcy protection.
Laguna Brisas LLC, the owner of the Laguna Brisas Spa Hotel at 1600 S. Coast Highway, filed for Chapter 11 bankruptcy at the end of February.
The Best Western-affiliated hotel has between $10 million and $50 million of assets and liabilities, according to the petition, filed in Santa Ana’s federal bankruptcy court.
Reasons for the company’s financial difficulties weren’t disclosed in court filings. The hotel has 66 rooms, with nightly rates running from about $150 in off-peak dates to $350 during the summer, according to the hotel’s website.
Three other affiliated businesses and executives tied to the Laguna Beach hotel have also filed for bankruptcy since late last year, according to court records.
They include Fullerton-based Paradise Hospitality Inc., which ran a hotel in Toledo, Ohio, and Goldenpark LLC, operator of a 198-room Doubletree hotel in Norwalk.
San Diego-based Bluestone Lodging LLC lists itself as the umbrella company that runs Laguna Brisas and three other hotels.
Court records show no bankruptcy filing by that company.
Big-Box Lease
Newport Beach-based Burnham USA Equities Inc. has found a big-name tenant for a vacant big-box retail property in Laguna Niguel it bought in late 2010.
The real estate developer and investor recently announced it had inked arts-and-crafts retailer Hobby Lobby Stores Inc. for a 77,800-square-foot lease at the Marketplace at Laguna Niguel shopping center along Alicia Parkway.
The Oklahoma City-based retailer is set to open its Laguna Niguel location in May.
The vacant site used to house a Mervyns department store.
Burnham USA bought the empty property about a year and a half ago in a lender-driven sale in a deal reported to be valued at $7.6 million.
The site, at 27200 Alicia Parkway, was previously acquired for a reported $24.3 million in 2005.
The remainder of the 508,000-square-foot Marketplace at the Laguna Niguel shopping center—whose tenants include Sport Chalet, Wal-Mart, Vons and Old Navy—was not part of that 2010 sale.
