Press Releases

CIM GROUP OPENS PUBLIC PARKING AT THE STRAND IN TIME FOR HOLIDAYS

Marks the Initial Phase Leading to Grand Opening in Spring 2009
12/5/2008


HUNTINGTON BEACH, Ca.—December 5, 2008—CIM Group has opened a new parking facility at The Strand, bringing 436 conveniently located public parking spaces to downtown Huntington Beach in time for holiday shopping. Parking at The Strand is accessed from 6th Street just off Pacific Coast Highway.  In addition, 5th Street which runs through the center of The Strand has been opened from Pacific Coast Highway to Walnut providing another vehicle and pedestrian connection between Pacific Coast Highway and downtown Huntington Beach.

On December 4, Forever 21 opened and will soon be joined by Active Ride on December 13 and Ra Sushi on December 15, the first in the center's collection of top retailers and restaurants. Rip Curl, Johnny Rockets and CVS Pharmacy are expected to welcome customers in January.

"The Strand is a premier project in an outstanding location, a welcome addition to Huntington Beach. It will be a good urban investment, adding both jobs and to the community's quality of life," said John Given, principal, CIM Group.

Ranging in height from three to four stories, The Strand is a dynamic, pedestrian-oriented, mixed-use development in downtown Huntington Beach.  It is comprised of 68,000 square feet of ground level retail and restaurant space and has 32,000 square feet of office space and a 157-room boutique hotel, the Shorebreak Hotel, on the upper levels.   Set on three acres, the development is a public/private partnership between CIM Group and the City of Huntington Beach.

Designed to seamlessly connect with the existing urban fabric of downtown Huntington Beach, The Strand  not only brings new shopping and dining options and ample parking to downtown, it also provides easy pedestrian access to neighboring shops, restaurants and businesses.

With wide sidewalks for outdoor café dining and a sweeping public plaza, The Strand is an inviting new destination for shopping, dining or an ocean-side getaway at Shorebreak Hotel.  CIM Group will frequently program the public areas with a variety of entertainment and activities to captivate residents and visitors.

Grand opening of Shorebreak Hotel is planned for May 2009 to coincide with the City of Huntington Beach's Centennial celebration.  The Shorebreak will be a stylish and contemporary hotel created and managed by Joie de Vivre, a company known for its distinctive properties and quality service.

Additional retail and restaurant openings will be announced as dates are finalized.

About CIM Group

Founded in 1994, CIM Group is a leading real estate investment firm that has successfully invested in dynamic, transitional, and densely populated urban communities throughout North America.  The CIM Group relies upon its experienced team of real estate, investment and finance professionals to identify and pursue investment opportunities through three distinct and complementary pools of capital:  opportunistic, stabilized and infrastructure.  Headquartered in Los Angeles, CIM maintains regional offices in San Francisco and Bethesda, Maryland.  For more information, please visit www.cimgroup.com.



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