When space constraints threatened to force a ballet organization out of its longtime home in Modesto, California, real estate broker Randy Brekke leapt into action with an elegant plan to secure expanded space in order to keep the pliés and pirouettes coming.
Central West Ballet is one of the largest tenants at Kiernan Plaza and has been a pillar of the Modesto arts scene since 1987, thanks to its performances of ballets such as "The Nutcracker" and "Romeo and Juliet" that have attracted local sponsorship from such groups as Kaiser Permanente, Penske and Raymus Foundation.
But Central West Ballet risked becoming a victim of its own success as its space was deemed no longer large enough to suit its needs. Brekke managed to find a solution that allowed the dance troupe to remain within the same strip mall and the retail landlord to retain one of its most valuable tenants.
The project has been selected as the winner of the 2024 CoStar Impact Award for lease of the year, as judged by a local team of real estate professionals familiar with the market.
About the Project: The new arrangement allowed Central West Ballet to expand from its 9,638-square-foot space by an additional 4,453 square feet within the same center.
What the Judges Said: "The Central Valley often seems like a cultural desert, so having a ballet company not only renew its lease but expand its footprint in an area known mainly for logistics uses is a huge win for the community. We don't want to be known as 'only x miles from the mountains, the ocean, the city, fill in the blank.' Having a successful ballet company helps to create a community with a 'there there," said Mahala Burns, commercial real estate broker with Burns Group.
They Made It Happen: Randy Brekke, president and owner, Brekke Real Estate, brokered the deal.