As retail operators across the United States look to regain momentum lost during the COVID-19 pandemic that kept shoppers at home, CIM Group has made headway on revamping its Montclair Place shopping center in the Inland Empire to increase foot traffic.
The company’s deal last year to bring on Main Event Entertainment as a new tenant at the 1.2 million-square-foot complex was a notable step in that direction. The 15-year lease marks Main Event’s first location in California and fills the final entertainment box vacancy at the project.
Main Event’s location will be on the ground floor below AMC's dine-in location at a two-story building that CIM built as part of a multi-phased approach to revitalize the property nearly a decade after it purchased the center. The entertainment concept includes bowling lanes, laser tag and escape rooms among other venues.
The deal garnered a 2024 CoStar Impact Award for lease of the year for Inland Empire, selected by an independent panel of local industry professionals.
About the project: Recent upgrades at Montclair Place include a new food hall, live music venue, family play spots and interior design renovations.
What the judges said: "I really liked how they are stepping up within an asset that has historically been challenged,” said Jacinto Muñoz of Cogito Realty Partners.
Adam Gilbert, president of The Firm Capital Group, called the lease an "innovative reimagination of the space."
They made it happen: CIM Group First Vice President of Retail Leasing Laci Jackson Ravina and Senior Director Sade Holz; Newmark Executive Managing Director Bryan Norcott, Senior Managing Directors Dan Samulski and Peter Spragg; Retail Insite Partner Jeff Drew; and Ranger Retail Partners CEO Geoff Henrion.