CFI as Asset Manager and supervising consultant recently completed a $2,000,000 exterior remodeling of the Ruffin Village Center, a 44,000 square foot neighborhood retail center, located at the southwest corner of Clairemont Mesa Boulevard and Ruffin Road, San Diego, California.  The exterior remodel was completed in 2 phases, within 12 months, while the center maintained over 90% occupancy.

Originally constructed in 1979, the popular neighborhood center underwent an exterior renovation of the multi-tenant buildings on the site.  The work involved removal of the original mansard canopies and construction of new, contemporary storefront facades, addition of tower and roof elements and application of new finish materials.  The buildings sport new colors and architectural details including stone veneer columns and copper-colored metal roofing.  Along with the building improvements, pedestrian-friendly improvements were made to the walkways which provide access to the buildings.

The recently remodeled center has enabled the ownership to make strategic tenant relocations within the center, including an existing Subway sandwich shop, and to attract several new regional tenants at substantially higher rental rates.  The attraction of new tenants, at substantially increased rents and the on-going renewal of existing tenants' leases has resulted in a substantial increase in the ownership's equity while maximizing their overall investment in the center.