Construction Today - November 2017 - 46

Commercial | CENTERCAL PROPERTIES

Attention Centers
CENTERCAL'S RETAIL DEVELOPMENTS ARE MORE THAN JUST PLACES TO SHOP. BY JIM HARRIS

CenterCal Properties

views the retail
» CenterCal
centers it builds as assets to the
communities they are in.

F

red Bruning knows firsthand that a
real estate developer's perspective
on the properties they own can vary
greatly. During his 40-year career,
Bruning gained experience in several different styles of retail development.
After graduating law school in 1977,
Bruning worked for Sears Roebuck and Co.
[now Sears Holdings] for six years in its
transactional law and real estate development departments. Bruning then worked
for several retail development companies
including a Manhattan Beach, Calif.-based
company that grew from being a fami-

46

CONSTRUCTION-TODAY.COM NOVEMBER 2017

ly-owned company to a publicly owned real
estate investment trust (REIT).
"Wall Street has a very different view of
real estate than a private company does," he
says. "A private developer looks at a retail
center as an asset for the community and
ascribes more importance to the quality of
the center and how it fits into the community instead of just looking at its size and
potential for asset growth."
In 1998, Bruning and partner Jean Paul
Wardy - an associate of Bruning's at the
public REIT - started CenterOak Properties,
a Western U.S.-based developer. Although

www.centercal.com
* Headquarters: El Segundo, Calif.
* Employees: 160
* Specia y: Retail

"We wanted to create places
where people could come back
ree to four times a week
as opposed to just once every
six mon s."
- Fred Bruning, co-founder
Bruning calls the company a great professional experience, CenterOak's capital
partner believed in taking a short-term,
closed-end approach to properties instead
of retaining and developing retail centers
for the long term.


http://www.CONSTRUCTION-TODAY.COM

Table of Contents for the Digital Edition of Construction Today - November 2017

Contents
Construction Today - November 2017 - Cover1
Construction Today - November 2017 - Cover2
Construction Today - November 2017 - 1
Construction Today - November 2017 - Contents
Construction Today - November 2017 - 3
Construction Today - November 2017 - 4
Construction Today - November 2017 - 5
Construction Today - November 2017 - 6
Construction Today - November 2017 - 7
Construction Today - November 2017 - 8
Construction Today - November 2017 - 9
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Construction Today - November 2017 - 28
Construction Today - November 2017 - 29
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Construction Today - November 2017 - 31
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Construction Today - November 2017 - 33
Construction Today - November 2017 - 34
Construction Today - November 2017 - 35
Construction Today - November 2017 - 36
Construction Today - November 2017 - 37
Construction Today - November 2017 - 38
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Construction Today - November 2017 - 40
Construction Today - November 2017 - 41
Construction Today - November 2017 - 42
Construction Today - November 2017 - 43
Construction Today - November 2017 - 44
Construction Today - November 2017 - 45
Construction Today - November 2017 - 46
Construction Today - November 2017 - 47
Construction Today - November 2017 - 48
Construction Today - November 2017 - 49
Construction Today - November 2017 - 50
Construction Today - November 2017 - 51
Construction Today - November 2017 - 52
Construction Today - November 2017 - 53
Construction Today - November 2017 - 54
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Construction Today - November 2017 - 60
Construction Today - November 2017 - 61
Construction Today - November 2017 - 62
Construction Today - November 2017 - 63
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Construction Today - November 2017 - 129
Construction Today - November 2017 - 130
Construction Today - November 2017 - 131
Construction Today - November 2017 - 132
Construction Today - November 2017 - 133
Construction Today - November 2017 - 134
Construction Today - November 2017 - 135
Construction Today - November 2017 - 136
Construction Today - November 2017 - Cover3
Construction Today - November 2017 - Cover4
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