Wednesday, December 24, 2008

Yes Plaza Count Down to the New Year


倒數迎新慶祝大會 @ Yes Plaza
Dec 31, 2008
想要看現場表演 , 逛懷念已久的夜市, 以及用一個特別的方式來迎接新年嗎? 那你就不能錯今年由STC管理公司所主辦的. 這個活動將舉辦在羅蘭崗的心臟地帶 - YES廣場。而這將會是一個從下午6時到凌晨12小時無間斷的狂歡派對, 大家可以盡情享受所有商家提供的精緻美食, 小點, 還有兒時的路邊攤遊戲!! 此外有些商家還會有年終回饋大特價等這你來賺便宜喔!
在這個不景氣的歲末年終讓大家一起心連心與你的親朋好友一同來共襄盛舉這個慶祝大會來刺激經濟動脈讓明年過的更好!!
在過去的十個月裡STC 管理公司在YES廣場舉辦了不少大大小小的活動, 而這次的倒數慶祝活動將又會是另一個最新的傑出盛會. STC 管理公司在完善的營運下, 以其創新的管理方法創造了業主與租客之間的互協合作並且提供機會讓雙方都可受益而更重要的是讓經濟得以增長 .

STC 管理公司和YES 廣場 誠致的邀請大家一起參加這個倒數慶祝大會
地點: 18156-18230 Colima Road, Rowland Heights, CA 91748.
詳細請洽: (562)695-1513

祝大家新年快樂 希望與你們在YES 廣場 不見不散~!!



New Year Countdown @ Yes Plaza
Dec 31, 2008

Live entertainment, full concert production, and night market festivities – there is no better way to greet the New Year and all of its opportunities. This year, Yes Plaza and STC Management will be hosting the ultimate New Year celebration in the heart of Rowland Heights from 6 p.m. until the clock strikes twelve. The mixture of vendors at this evening event will provide a food and entertainment experience that rivals no other. You won’t find ubiquitous lunch items at the night market. Instead, there will be an amazing selection of culinary delights running the gamut from spicy Kyo Chon chicken to exotic Java spices. Special 10% off promotions are also available from some vendors – for New Year’s Eve only! Other than providing a family friendly way to celebrate the New Year, it is also an event to bring hope in light of the current economy.

This only marks the latest event that STC Management has held at this particular location in the last 10 months. STC Management is a full service property management firm. Their innovative management methods have created a certain synergy and collaboration between Landlords and Tenants – providing an opportunity for both parties to benefit and, more importantly, grow.

STC Management and Yes Plaza cordially invites everyone to stop by and join in on the party! Yes Plaza is located 18156-18230 Colima Road, Rowland Heights, CA 91748. For more information call (562)695-1513.

Happy Holidays and hope to see you there!

Thursday, December 18, 2008

STC Management Appreciation Party



STC Management, cordially invited all honored guests to attend our Appreciation Party Dec 13, 2008



Dec. 13 2008


STC資產管理公司, 於2008年12月13日在知名的高級飯店 - South Pasadena Langham Hotel舉辦感謝餐會, 而前來參加餐會的都是STC的客戶, 長期合作的商家, 還有知名媒體人士。此外STC也特別邀請到國際知名的房地產專家 Carmela Ma 和 大洛杉磯地區2008 CCIM的會長Todd D. Weaver 前來參加這場餐會, 並且開了一個特別座談會。 兩位先後在座談會上都提到如何掌握投資契機及宏觀全球發展, 讓不少賓客和投資者都獲得了更多的投資知識和新的方向。
在感謝餐會上, STC 團隊領導人 - John Hsu提出 STC 接下來將率先實施最新的管理系統。 其管理系統將分為兩大類: 租賃管理系統 (LMS) 和 市場行銷推廣系統 (BMS) 。
租賃管理系統其目的是要將租賃過程以快捷迅速的方式掌握所有的房客資料 , 並將他們放入適合的空屋以達到最大的經濟效應。這套系統會收集所有房客 、準房客和所有空屋的資料 , 且自動化的配套出最合適的組合。 這將會幫助所有STC 的客戶省下不少時間、 金錢和精力。 再來是市場行銷推廣系統 , 這套系統將幫助所有STC的房客宣傳刺激經濟效應 , 讓他們的生意可以成長及獲利。 它將會收集房客的宣傳廣告、活動資訊、及優惠方案。也一樣會自動化的將資訊傳給廣大的客戶群, 並且達到最好的宣傳效果。 最後John Hsu 特別將STC過去九年的成長成績單跟大家分享, 在過去的九年裡, 在STC管理下不動產資產成長高達 $15 億, 而租賃成績亦高達178萬 平方英尺。 在STC 旗下管理的商場, 有許多知名的大房客駐入 如 Starbucks、 Denny’s、 McDonalds、Ross、鳳城 …等, 也讓STC 的成長更茁壯更出色。 最後John Hsu 跟他的所有團隊在餐會上 , 一起向所有的賓客表示謝意也希望未來可以和大家一起成長 , 達到互惠雙贏的局面。


December 13, 2008 – STC Management held their year-end Appreciation Party this past Saturday at The Langham Huntington Hotel & Spa in Pasadena. Guests include STC clients, vendors, and several media outlets. Also in attendance were special guests: international real estate expert Carmela Ma & CCIM Greater Los Angeles Chapter President Todd D. Weaver –both of whom were also speakers for the seminar portion of the Appreciation Party. Both experts provided their professional opinion on investment strategies and taking advantage of global opportunities. Without a doubt, their presentation provided guests with knowledge and many new investment approaches.
Additionally, STC Team Leader John Hsu took a moment during the Appreciation Party to reveal new strategies. To begin with, John introduced two proprietary systems: Leasing Management System (LMS) and Business Marketing System (BMS). The purpose of LMS is to consolidate tenant information and prospective tenant information with available spaces to ensure the best space complements the most suitable tenant. This system would be able to process information more efficiently and accurately saving STC clients’ time, money, and energy. The BMS system, on the other hand, is a system that is created for existing tenants. This marketing system will help streamline advertising efforts to stimulate and promote tenant businesses. It will assemble together all advertisements, special promotions, and limited time discount programs for mass distribution to the general populous for maximum exposure.
John Hsu also shared with the audience STC Management’s company growth and future direction. Over the last nine years, STC has accumulated $1.5 Billion in real estate assets in the company management portfolio – including a sum of over 1.78 million square feet of retail space. Under STC Management’s administration, many national franchise tenants, such as Starbuck’s Coffee, Denny’s Restaurant, McDonald’s, Ross, Phoenix Restaurants, etc., have come to partner with STC – adding to STC’s growing tenant portfolio. Together with his team of young and energetic team members, John expressed gratitude for continual support from everyone and hopes that STC would be able to continue to grow with the collaboration and aid of all guests at the Appreciation Party.



Appreciation Party December 13 2008





Monday, December 15, 2008

STC Client Appreciats

Thanks to all the hard working team members


Client Appreciates


CADSSC 21th Annual Meeting 2008

Dental Association Annual Dinner Dec 07, 2008

Thank you, CADSSC, for the invitation to this momentous occasion. The food and entertainment was great!

Rita Chio Installation Party

West San Gabriel Valley Association of ®, Inc.
Dec 06 2008
Rita Installation Party 120608




Congratulations to Rita Chio, on becoming the 2009 President of West San Gabriel Valley Association of REALTORS®, Inc.


不要輕易放棄房客 Do not easily give up on the tenant.

房客要求減租 房東如何因應?
不要輕易放棄房客

(記者黃思齊報導)金融海嘯肆虐,繼金融、汽車業相繼淪陷後,商業地產可能是下一波未爆彈。STC資產管理公司總裁 John許指出,已經有不少商業不動產房東收到房客減租或不續租的通知。如果你是房東,你應該如何處理呢?
John 許指出,景氣不好影響到各行各業,年底這個時候,本來應該是零售業旺季,然而商家望穿秋水,卻不見消費者上門。買氣不強,已經讓Circuit City、Mervyn’s 等大型連鎖店面臨關門大吉的危機,然而在不景氣中,也有廠商經營得有聲有色,例如Ross、Denny’s,John許指出,今年度,STC資產管理公司已經幫他們開了十家店。因此,不動產業主也無需太過悲觀。
談到房東如果收到房客的減租要求,應該如何應對?John許指出,「請房東先不要太快回應。」因為房東的直覺反應一定是拒絕,房客看減租無望,就乾脆退租了,對房東而言,真的是得不償失。「因為景氣很差還會延續一段時間,房客將會愈來愈難找,房東應該與房客站在一起,共度難關,才是雙贏的策略。」
John許說,房客要求減租,房東應先考慮的是,「這個房客的生意是否尚有可為」,他賣的東西好吃嗎?他賣的產品市場需求度如何?他的財務健全嗎?他現在生意有危機,是否是因大環境使然,而並非是房客個人有諸如賭博之壞習慣造成。如果房東認為這個房客還沒有到令人絕望的地步,就應該伸手幫助他渡過難關。
John許指出,房東協助房客的方法有很多種,例如房東可以答應暫時減租一定期限,比如一年,再將減少的租金分攤到以後的租期中攤還,這樣可以讓房客度過最難捱的時刻。
又或者是,不用減租形式,而將房客付的租金部分拿來打廣告,幫助房客促銷生意。John許說,房東甚至可建議,提供相對的金額,幫助房客打廣告。這些都可讓房客體會到你的誠意,可以更鞏固雙方的關係。
最具創意的方式是,John許提出他自己的經驗,同意減免房客六個月,每個月一千元的租金,但是要求房客拿這筆錢換新冰箱、新爐頭、改善自己的門面,使得該餐館房客的評分從「B」升到「A」級,競爭力加強,生意改善,皆大歡喜。
還有一個幫助房客的方法,John許說,將房客的「Security Deposit」部分借給房客運用,等到生意好時再補回來,房東沒有損失,對房客來說,卻是很大的幫助。
「Joint Promotion」也是一個不錯的點子,John許說,現在的消費者精打細算,他們將他們管理公司旗下所有商家提供的優惠coupon,在網路上大量放送,吸引消費者前來,也達到不錯的效果。
John許強調,景氣明年會更糟,房客只要扶得起來,就不要輕易放棄。商業不動產的所有人應該要以更積極、主動的態度面對逆境,絕不要坐以待斃。
讀者如果還有有關商業不動產的問題需要諮詢,歡迎與John 許聯絡,電話:562-695-1513。


When Tenants ask for a reduction in rent,
how should the landlord respond?
Do not easily give up on the tenant.

In this trying economic time where we have seen the impact of the financial landscape on lending institutions, and more recently the automobile industry, one can not help but wonder if commercial real estate could be next. STC Management’s John Hsu points out that there are already many landlords who have received requests for rent reduction & notices to quit. If you are the landlord, how should you respond?

John points out, when the economy takes a turn for the worse; it will affect businesses in all sectors. The holiday season usually yields high sales volume, however, this year; sales have not produced comparable numbers to previous years. The trying economic times has already let us bid farewell to household names such as Circuit City, Mervyn’s and Linen’s and Things. However, even in this economy, there are also stores not only performing well but expanding – such as Ross and Denny’s Restaurant. STC has already helped open ten stores in the past year for these franchise tenants. Although the commercial real estate landscape is not the thriving landscape it was a year ago, there is no need to have a grim outlook either.

When landlords receive a request for rent reduction, what is the appropriate response? John Hsu has many ideas and suggestions. First and foremost, “Landlords should not react too quickly.” Because the first reaction the landlord will have is refusal. When this happens, the tenant has no alternative course of action and will be forced to leave the premises – leaving the landlord with a situation that is not that much better. John explains, “the economic climate will most likely last for a period of time, tenants will be harder to find. Instead of turning away tenants, the landlord should work with the tenants and together endure through these trying times.”

Instead, when landlords are faced with this caveat, the questions the landlord should think about are, “does this tenant’s business successful? Do they make good food? Is the product they sell in demand? Is there a threat to the business that is not attributed to outside factors such as the economy but personal factors such as a gambling habit? If the landlord feels that the tenant situation is not beyond repair, the landlord should extend a helping hand.

John Hsu proposes many methods for the landlord to help tenants. For example, the landlord can agree to rent reduction for a set period of time – for example one year. The landlord can then make up for this rent reduction by adding the subtracted amount of rent to future rent. This way, the tenant can survive through these hard times. Another method that can be used is by taking a portion of the collected rent and investing in advertisements – helping the tenant gain more exposure for their businesses. John suggests that the landlord can even promise matching funds if the tenant is willing to invest in advertisements to help their business. The added benefit is that the tenant will feel that the landlord is proactively helping – indirectly strengthening relationships between landlord and tenant.

Landlords may also explore the option of letting tenants ‘borrow’ a portion of their security deposit. When business improves, the tenant can then return that deposit to the landlord. Landlord will not be at a loss, but conversely the help given to the tenant is immeasurable.

“Joint Promotion” is another method worth trying out. The management company can compile a coupon booklet that contains tenants special offerings and others who want to participate in the joint promotion. This coupon booklet can be mass mailed using the internet to attract consumers. In past experiences, it has achieved a favorable effect.

The most creative method was suggested by John himself. In his past experience he has granted rent reductions in the sum of one thousand dollars – however, there is a catch. The tenant is asked to use this money towards improving their facilities (ie refrigerators, stoves, general appearance). The improvements help increase the appeal, and indirectly the traffic, and ultimately business.

John Hsu emphasizes that the economy next year will continue to deteriorate. If the tenant is not beyond hope, it is worth putting the time and effort in helping them in these hard times. All professionals in the commercial industry should be more aggressive and proactive in the face of this adverse situation.

If there are further questions regarding commercial real estate, John is available for consultation and more information at (562)695-1513.

Friday, December 5, 2008

商業不動產頹勢已現

商業不動產頹勢已現

John許:商業不動產頹勢已現
業主須盡快調整腳步採取因應措施
(記者黃思齊報導)不動產市場的頹勢,已經從一般住宅逐漸擴散到商用房地產範圍,許多商場的空屋率上升速度明顯加快,STC資產管理公司總裁John許呼籲,商業物業的業主必須盡快調整自己的腳步,採取因應措施,因為明年也不會是「好年冬」。
John許指出,景氣不佳導致生意難做,不僅是零售業叫苦連天,餐飲業也面臨即使削價,似乎也無法招徠人氣的窘境。房客收攤,房東面臨空屋率節節上升,已經夠嚇人了,如果您又是在二○○四、二○○五年購入物業的房東,還必須擔心五年貸款期限差不多到期,要面臨與銀行續約的關頭,那才真是令人寢食難安哩!
John許解釋道,空屋率上升導致Cap Rate順勢爬升,致令不動產價值下滑,銀行眼見抵押品縮水,尤其又在現在這種風聲鶴唳的時機,絕不可能借出高於抵押品的款項,差額部分業主必需以現金補上,沒有錢,就只能將不動產脫手。這種現象在一九九○年初曾發生過,許多人因此傾家蕩產。「如果這種情形在明年重演,我不會覺得意外。」John 許表示。
John 許指出,近期的商業不動產交易價格,雖然Cap Rate仍維持在6%左右,但在比較偏遠的地區,已經看到Cap Rate到8%甚或到9%的情形了。雪上加霜的是,根據經濟數據,明年的失業率還會繼續攀升,這絕對是商業不動產所有人最不願聽到的消息。John許建議指出,「著急於事無補,當務之急是趕快找進高品質的房客,撐起商場,爭取時間,才有一搏的機會。」
要如何讓好房客願意進駐呢?「優質的管理是最重要的一環。」John許說道。「在與許多主流商家接觸的過程中,我很清楚地了解他們的要求。他們希望能有好的服務、好的管理,能審時度勢適度地為房客調整租金,甚至能想方設法為房客promote生意,站在一起度過景氣蕭條期。」
對於有意進入商業不動產行業的有心人,John許建議,「您必須要先做功課」。雖然可能明、後年才用得著,但是您要學會如何計算Cap Rate、您要學如何招進好房客,還要學如何看合約等等,「有了充分的準備,才能註冊明日的成功」。
讀者如果還有有關商業不動產的問題需要諮詢,歡迎與John 許聯絡,電話:562-695-1513。

Investors: Be Prepared…
John, “We must be ready to take action.”

The effects of the real estate market meltdown have expanded from residential market into the commercial market – as evidenced by the increase in vacancies in retail and office spaces. John Hsu of STC Management warns that commercial property owners must quickly adjust themselves to accommodate the impending market conditions. Many experts project that the economy will not bounce back until 2010.
The economic conditions have painted a landscape that is not conducive to small business owners. The effects are felt by not only the retailer but also food services/restaurant owner. The unfriendly business environment in addition to the exponential increase in vacancies are already factors that affect landlords. However landlords who got into the commercial real estate market in 2004 and 2005 have the added pressure of trying to refinance their five year loans in a very non-liquid banking environment. As vacancies increase, the CAP rate also increases, resulting in the decrease in value of the property – and finally leaving the owners upside down on their loan. The current economic climate is very similar to the RTC days back in the ‘90s. Many people filed for bankruptcy and John says he would not be surprised if the same situation happened again.
Even though recent sales in the commercial real estate market still post 6% CAP rates; in suburban areas, CAP rates at 8% even 9% have become commonplace. To make the situation even worse, many experts project an increase in unemployment rates – news that is not welcoming. John points out, “Nothing can be accomplished if we panic. Instead, we need to quickly find well qualified tenants to help support the retail center and buy time in order for the opportunity to rebound.”
“There are many ways to attract well qualified tenants,” John suggests, “quality management is the first step. In my experience and encounters with tenants, I understand the tenant’s needs. They wish they could have better service and management. They also hope for a landlord that can appropriately adjust rent schedules, provide suggestions to promote tenant’s business and weather through these tough economic times.”
As for potential investors, John recommends, “you must do your homework.” Even though these ideas may not be implemented until next year or the year after, it is still wise to understand how to calculate CAP rate, bring in good tenants, and understand lease agreements. “Only with adequate preparation can one be able to take advantage of opportunities.” If there should be any questions or comments, John would be more than happy to assist (562)695-1513.

Wednesday, December 3, 2008






December 2, 2008

Los Angeles County Sheriff's

National Scholarship Association
28th Annual Christmas Celebration

Thank you to the National Scholarship members for a wonderful evening of great company and entertainment. Congratulations to all who received special recognition this year!


Great venue~

Quality company~

= good night :)
LA County's Undersheriff Larry L. Waldie with STC Associates
Congratulations Larry, thank you for all that you do!

Our very own Rowland Heights Deputy Dickie Simmons
(aka the happiest man at yesterday's party!)

STC Associate Willie Kuo with Undersheriff Larry L. Waldie

STC Team Leader John Hsu with National Scholarship Association Chairman, Duck C. Hong - Thank you Duck for a wonderful evening!

Special recognition by LA County Sheriff's Department...

Congrats Team Leader!







Royal (Thai) Gathering!

November 21, 2008
TGIF got a new meaning today - Carmela Ma and Todd Weaver of CCIM took time out of their busy schedules to meet with our STC Associates. We braved the strong Thai spices and had lunch at our local President Thai Cafe restaurant right off Whittier Blvd....
Site of our 'royal' gathering :)


Guests of honor: Todd Weaver & Carmela Ma...thank you for joining us!!!

President Thai Cafe is located:
9340 Whittier Blvd.
Pico Rivera, CA 90660
(562)949-4189


Tuesday, November 25, 2008

STC Management's New Assignment!
A beautiful office building has just been added to STC's portfolio
2100 Saturn St.,
Monterey Park, CA 91754

New state of the art office building in prestigious business park located off the 60 freeway. High image office building featuring floor to ceiling windows, architectural detail, quality materials and ample gated parking. Easy access and visibility perfect for professionals searching for a prime location that reflects the quality of the business. The two available suites can be expanded to a total of 2,207 sq.ft. to meet your business needs.
For Leasing & Mgmt Information, Please Call (562)695-1513


Curt Hagman Reception 10/15/08 Appreciation Letter



Curt Hagman's appreciation letter



Curt Hagman
Councilmember
CITY OF CHINO HILLS


November 5, 2008

Mr. John Hsu STC Management

10722 Beverly Blvd.,Ste. P Whittier, CA 90601

Dear John:

Thank you so much for all your help and support of me as your Mayor of Chino Hills. It was great to have you be a part of the reception at the McCoy center on Oct. 15th. Everyone got to hear some fun stories about me from my colleagues before I head off to the Assembly. Even Assemblyman Mike Duvall got his two cents in.

In all seriousness, though, I am grateful to have partnered with you as a Chino Hills Council Member over the years and I am excited to represent you soon in Sacramento. Grace and I look forward to talking with you soon.

Sincerely,

3233 Grand Avenue, N265,
Chino Hills, California 91709
(909) 606-0788 .,
Fax (909) 606-0213
curthagman@aol.com

Monday, November 24, 2008

New Addition that's coming to Yes Plaza




What is this?

It's new! It's exciting!
It's going to happen in Yes Plaza!

Wait for it!!

Shopping malls are running on empty

Article from LA Times
http://www.latimes.com/news/local/valley/la-fi-malls24-2008nov24,0,341712,full.story

Shopping center owners are struggling to fill an increasing number of vacancies.
By Roger Vincent and David Pierson
November 24, 2008
Life Plaza Center in San Gabriel used to teem with diners heading to Green Village, a Chinese restaurant in the middle of the horseshoe-shaped mall on Valley Boulevard.

But after the eatery closed five months ago, the 7,500- square-foot space remained vacant. With no tenants stepping forward and fewer customers clogging the parking lot, the plaza is quiet, with a curiously dark core.

It's a scene repeated in various forms throughout the region, as the economic crash that started rolling through single-family housing more than a year ago begins to hit shopping centers, turning what had been a residential phenomenon into one that threatens commercial real estate as well.

Business is so bad that an increasing number of retailers are calling it quits -- without waiting to see whether money can be made as the Christmas season gets underway.

The department-store chain Mervyns closed in October -- at about the same time Linens 'n Things Inc. and Shoe Pavilion Inc. launched going-out-of-business sales. This month, Circuit City Stores Inc. filed for Chapter 11 bankruptcy protection just days after announcing it would close 155 underperforming electronics stores and seek lower rents at others.

For property owners, the loss of tenants means more than a reduction in the revenue that is collected from rents. If one store closes, customers are less attracted to the center overall, and the losses can snowball. Whereas in previous years it was easy to find new tenants, now they are scarce. And as the property owners find themselves getting in trouble, their typical recourses -- to sell the building or refinance it -- are also stymied by the stuck economy.

At Life Plaza Center, the lack of interest from potential new tenants has surprised the plaza's management. Located between Del Mar Avenue and San Gabriel Boulevard, the mall is situated in the heart of a long-thriving ethnic Chinese community. Potential tenants used to abound.

"We were charging $2.75 a square foot, but if we can get $1.75 for it, we'd be very lucky now," said Art Ko, a leasing agent for STC Management. "It's hard to even grasp what's a fair market price now. Everything is up in the air. We've had many deals where people just walked away the last minute. It's a buyer's market."

Ko's company manages dozens of properties in Los Angeles and Orange counties. In recent months, they've experienced a rise in delinquent renters. One plaza in Rowland Heights has been hampered by a closure, an upcoming eviction and a business for sale.

"It was at 100% occupancy just half a year ago," Ko said.

A bad situation threatens to get worse after the holidays.

Christmas is always a key driver of merchants' financial success, but this year it could mean life and death for many stores, analysts say.

Struggling businesses typically hang on through the holiday and then evaluate their financial position, said Malachy Kavanagh, a spokesman for the International Council of Shopping Centers, an industry trade group.

In most economically slow years, large retailers can cover for a Christmas shortfall with loans from their longtime lenders. But the credit crunch is keeping bankers on the sidelines, and even big players are having trouble getting the financial help they need.

If Christmas doesn't deliver the usual windfall for merchants, the pressure on landlords to rewrite lease agreements and reduce rents in 2009 could become intense, said Stan Ross, chairman of the USC Lusk Center for Real Estate. That could put some shopping center owners in jeopardy with their lenders, especially if they can't find replacement tenants for those that leave.

"The worst thing for a retail center is to have a lot of dark stores," said Ross, because it makes the center a depressing place to shop and can speed its demise. Fewer customers visit and more stores turn out the lights. "There is a domino effect," he said.

Far from lining up to grab available retail spots at any price, merchants from big chains to small mom-and-pops are asking for reduced rents and threatening to go out of business or move to cheaper digs if their landlords don't acquiesce.

That's a turnaround from three years ago, when department store mergers opened up large blocks of space but didn't cause much panic with mall managers, which easily replaced them with other tenants.

Now, however, leasing at many local malls is already grinding to a near-standstill, said Mike Jensen, a broker with Pacific Retail Partners in Long Beach. That's especially true in communities that had experienced the most extreme highs and lows in the housing market. At a mall in Moreno Valley, for example, PetSmart and Staples signed leases to move in but bailed out before doing so.

Macerich Co., a national shopping center chain that until recently had 43 Mervyns stores as tenants, is scrambling to find replacements.

The Santa Monica-based company is also fielding requests from tenants that want lower rents.

Randy Brant, Macerich's head of real estate, said that the chain knew Mervyns was in trouble when it agreed to buy the properties late last year because Macerich wanted the real estate, but it figured that new tenants would be easily found.

But in today's market, replacing 43 large stores promises to be challenging. With fewer big retailers out looking for space, Brant said Macerich might try splitting the buildings up and leasing the large former Mervyns stores to several tenants instead of just one.

Big mall chains such as Macerich and Westfield usually have the resources to endure economic downturns better than small local shopping center owners, industry observers say, but being big isn't always enough.

General Growth Properties Inc., owner of the Glendale Galleria and more than 200 other malls, has seen the value of its stock decline about 90% in the last three months and said this month that it might default on billions of dollars' worth of debt it took on in an acquisition spree.

And why not go on a spree? In those days, consumers were buying and retailers were willing to pay almost anything to rent a choice space. "We'd have one space and three tenants who wanted it," said Jensen of Pacific Retail Partners.

As the economy slowed, however, some landlords miscalculated, raising rents above what their tenants could pay.

Two and a half years ago, Connie and Micheal Edwards opened a small gymnasium for children in a Studio City shopping center.

The mall was sold and the new owners made improvements and then raised rents about 20%. The Edwardses were already struggling, and the rent increase put the business in the red. "We had invested almost everything we had into it and it was bleeding freely," Micheal Edwards said.

He asked the landlord for a rent reduction, hoping he could bring the gym to profitability. The landlord balked and the gym closed. More than a year later, the ground floor space remains empty -- its glass storefront covered by white paper and a Lease sign.

"This building has a lot of vacancies," said Amy Kriegel, owner of a dance studio for children on the second floor of the shopping center. "It makes me think I should get a break in rent."

Dodging children rushing through the door of her business, Creation Station, she said she hoped she had enough loyal clients to combat a lull in visitors to the plaza.

"I think it's the economy," Kriegel said.

Vincent and Pierson are Times staff writers.

roger.vincent@latimes.com

david.pierson@latimes.com

Lee's Sandwich Opened on Saturday November 22, 2008

The long awaited Lee's Sandwich Grand Opening is finally here!!
Yes Plaza
18194 Colima Road, Rowland Heights, CA 91748.
Resident of Rowland Heights, if you like the smell of coffee in the morning, now you have a perfect place for you to go!! Lee's Sandwich is opening it's doors to service breakfast from 8am in the morning!!! Hooray!!

All the Major Chinese TV were there!! ETTV, Skylink, IVAC

Lee's Sandwich's got full support of the STC Management(Yes Plaza), surrounding cities (Mary Su, Vice Mayor of Walnut), the Lee's Sandwich Corporation (Chieu Le, President/CEO) and the Rowland Heights (Szu-Pei, Director of Rowland Water district), Chinese Media (Maggie, Skylink Anchor)


Maggie Lee from Skylink TV was there to do a thorough interview

Major Chinese TV Channel were all there!! ETTV, Skylink, IVAC

ETTV Connie Interviewing Tony Lee, the owner of Lee's Sandwich



ChiChing 採青

Lee's Sandwich's got full support of the STC Management(Yes Plaza), surrounding cities (Mary Su, Vice Mayor of Walnut), the Lee's Sandwich Corporation (Chieu Le, President/CEO) and the Rowland Heights (Szu-Pei, Director of Rowland Water district), Chinese Media (Maggie, Skylink Anchor)




Lee Sandwich-11-22-08 Album

Friday, November 21, 2008

Lee's Sandwich is Opening in Yes Plaza



What Recession?!?!


Yes Plaza is (again) welcoming a new addition…Lee’s Sandwiches!

Despite the grim economic news that is constantly presented before the general public, STC Management charges forward and continues to expand and support the plazas that they manage. This coming weekend, Yes Plaza and STC will be welcoming its newest member to the community. This would be the first expansion to the Rowland Heights area for the popular sandwich franchise. On November 22 (Saturday), they will be holding their grand opening - providing sandwich samples for all those who wish to attend. The sampling will begin at 8am and the event will last until 12 noon. In between, attendees can enjoy the festivities with city representatives and dragon dance performances.

Lee Sandwiches is a Vietnamese franchise that has experienced tremendous growth in the past few years. This European inspired bakery attracts a diverse crowd from traditional Vietnamese-Americans to a younger crowd that is wowed by the full-color bilingual menu signs. The extensive menu caters to a wide audience from traditional Asian inspired sandwiches to delectable butter croissant sandwiches and pastries. The visit would not be complete without an ice cold coffee drink – the unique rich flavor compliments the fresh baked bread and desserts!

Located in the heart of Rowland Heights, Yes Plaza is a neighborhood hot spot with the perfect collection of retail and dining. With the addition of Lee’s Sandwich, the plaza will only become more popular! Yes Plaza is located 18194 Colima Road, Rowland Heights, CA 91748.


Yes Plaza又有新商家入駐
Lee’s Sandwiches週六盛大開幕
(記者黃思齊報導) STC 在景氣一片低糜的情況下, 還是努力不懈的為商場注入新生命, 所以住在羅蘭崗的民眾有福了!享譽盛名的Lee’s Sandwiches即將於十一月二十二日(星期六)早上在Yes Plaza盛大開幕,當日將提供美味的早點三明治供民眾試吃,喜歡嘗鮮的民眾,千萬不要錯過機會。
根據Yes Plaza管理單位STC資產管理公司表示,試吃活動由當天早上八時開始至十二時為止,早上十時有舞龍表演,多位政要將應邀剪綵,熱鬧可期。
Lee’s Sandwiches是一家專賣越南式三明治的速食連鎖店,以平價且口味清新大受歡迎。該店所有餐點都有彩色圖片供參考,而且是英文與越南文並用,所販售之三明治從兩美元起跳,份量不小,口感清新,吃過的人都覺得「物超所值」。
Lee’s Sandwiches的三明治種類很多,外包法國麵包外酥內鬆軟,裡面的料選擇多,包括BBQ雞肉、牛肉、火腿等,加上越南式特製醃製的紅蘿蔔、白蘿蔔、香菜、紅綠辣椒,咬一口,飽腹又爽口。若不喜歡法國麵包的硬,也可選擇較軟的可頌麵包。因為越南曾經是法國屬地,越南咖啡也很特別,味道濃郁,還有肉串、乾河粉捲、香腸炒飯等各種越南小吃,當然不能忘了提到令人吃了還想再吃的越式甜點。
位於羅蘭崗中心地帶的Yes Plaza是一個具備食衣住行多項功能的綜合性商場,現在又進駐這家非常受歡迎的三明治店,相信將能為Yes Plaza帶來更多的人潮。
Yes Plaza的地址位於18194 Colima Road, Rowland Heights, Ca 91748

Thursday, November 20, 2008

RHAC Board Meeting November 19, 2008

5000 signatures! (and counting!!)

RHAC Board Members sat down at this month's board meeting to formulate our next plan of action. With the help of Rowland Heights residents, we can now move on to the next step, let's keep working together for a better tomorrow! It's time to move forward and put the power back into the hands of Rowland Heights Residents!!
www.rowlandheightscity.org



Concourse Medical Center Conference Room

F5 Seminar Nov 15/16

Thank you for all those who attended our November 15, 16 Seminar - it was a success!!
We had almost 300 people come over the two days - in fact, we had to add chairs in order to accomodate all those who came.

Many thanks also to our 5 speakers(listed below), without which this event would not have been possible. The combination of their humor and professional knowledge brought the seminar to life!


John Hsu (562) 695-1513
STC Management Team Leader

Eric Chen (626) 810-6163
Lawyer

Kevin Yeh(626) 810-7285
Accountant

Jonathan Cheng (626) 581-8210
Actuary

Benson Liao (626) 912-0688
New York Life Insurance




F5 Seminar Nov 15/16


UCC Cafe

UCC Cafe Plaza

Hing Wa Lee Plaza
1569 S. Fairway Drive Suite 126 B&C
Walnut, CA 91789
(909)598-3200
www.ucccafeplaza.com

" Coffee is the source of satisfaction and comfort. It is the medium for togetherness"
the motto for UCC Cafe

If you find yourself awake on a sunny Sunday morning, hungry, and have some time to spare, then this might just be the right place for you. UCC is not your typical Asian restaurant you find in the 626 or 714 area....

This Japanese inspired cafe restaurant has a sleek modern look yet provides a warm environment for your comfort and enjoyment :)

Nice visual presentation to highlight the extensive selection of coffee and entree items.

Attention to detail down to the very utensils - modern clean edges, I like it!

Ladies and gentleman, this is not your average Starbucks...UCC takes it to a whole different level. Coffee drinkers and non coffee drinkers alike, will appreciate the made to order individually brewed coffee... yum!

Sausage with Scramble Egg...perfect portion, beautiful presentation...

Delicious Ham & Cheese Omelet! Healthy start for the day!