Photo by Dylan Gonzales Starbucks will be the centerpiece of the Crossroads Shopping Center at Bullard and Minnewawa avenues in Clovis. Other tenants have shown interest after the coffee shop’s lease. Photo by Dylan Gonzales

The Crossroads Shopping Center, located on Bullard and Minnewawa avenues in Clovis, is undergoing several changes under Vadim Agamirzoyan and Artem Grigoryan’s new ownership.

The two purchased the 50-year-old shopping center in 2023. According to Tyler Shegerian, the co-founder of PACT Capital, the shopping center hasn’t been very active for the past 10-15 years.

A new Starbucks location is under construction and expected to be completed by May of this year. The company is already searching for other national brands to help revitalize the shopping center.

In addition to the Starbucks site, there is an additional 3,700 square feet available for future tenants.

James Bitter, a broker associate at Fortune Associates, is helping Agamirzoyan and Grigoryan in leasing additional spaces.

“We’re looking for some sort of medical user, an orthodontist or dentist. Also, an AT&T or Verizon store,” Bitter said.

Agamirzoyan, from San Diego, and Grigoryan, from Phoenix, have been investing in real estate for more than 25 years, and own and operate more than six shopping centers across the United States. They purchase centers with strong tenant foundations and potential for expansion and improvements. They’ve successfully implemented similar projects in states including Missouri, Arizona, Florida and Southern California.

Initially, the center wasn’t attracting much interest on the market. The developers brought Starbucks into the equation, making it a more viable project.

“It was on the market for quite a bit of time at a higher price point. But a lot of local brokers and a lot of local people overlooked the center,” Shegerian said.

One of the reasons the two were attracted to the Crossroads in Clovis was its location. It is located between Old Town Clovis and Fresno State near Highway 168.

“Bullard is the main thoroughfare off of the freeway to downtown Clovis, so I think that there’s a lot of synergy that can be created from businesses being that close to Old Town, but not quite in Old Town,” Bitter said.

Shegerian also spoke of the benefits of the location.

“You can go to this shopping center on the way to or from work, or hop over during work hours to get a coffee or go to one of the tenants,” Shegerian said.

Although Crossroads was overlooked, Agamirzoyan and Grigoryan are looking forward to what they can accomplish with Starbucks being the centerpiece.

“Anywhere you are, you know Starbucks,” Grigoryan said.