Huntington Beach, Calif. — Westwood Financial has acquired Peninsula Marketplace, a 95,416-square-foot shopping center located in Huntington Beach in Southern California. Ralphs anchors the property, which was 99 percent leased at the time of sale. Other tenants at the center include Planet Fitness, Carl’s Jr., Woof Gang Bakery & Grooming, Sourdough & Co., Rubio’s Baja Gril, Peninsula Orthodontics, Aim Mail Center and 602 Coffee & Acai.
Santa Clarita, Calif. — SRS Real Estate Partners has arranged the $27.5 million sale of a value-add retail property located in Santa Clarita, roughly 30 miles north of Los Angeles. The shopping center, which is situated on 12.6 acres, was formerly anchored by Kmart. At the time of sale, the property was 80 percent leased. The new ownership plans to fully renovate the shopping center, maintaining its retail use while upgrading the property and enhancing its overall appearance. Carlos Lopez, Terrison Quinn and Tony Vuona of SRS Capital Markets represented the …
San Jose, Calif. — Marcus & Millichap has arranged the $7 million sale of Capital Commercial Center, a 14,479-square-foot retail property located in San Jose. Steve Sauter of Marcus & Millichap represented the seller, an undisclosed partnership, while Bryan DiMesio and Scott Ferguson of Marcus & Millichap represented the buyer, a California-based limited liability company, in the transaction. Built in 1988 on a 1.1-acre parcel, Capital Commercial Center is fully leased to nine tenants under triple-net leases with an average occupancy tenure of more than 11 years.
Lakewood, Calif. — Faris Lee Investments has brokered the $38.7 million sale of two retail properties located within Lakewood Center, a 2 million-square-foot shopping center situated roughly 23 miles southeast of Los Angeles. The buildings, which total nearly 155,000 square feet, are occupied by Albertsons and The Home Depot. Both tenants have operated at the center for more than 30 years. Don MacLellan, Jeff Conover, Scott DeYoung and Greg Lukosky of Faris Lee Investments represented the seller, a consortium of multiple owners, and the buyer, a high net-worth family office, in …
Clovis, Calif. — SRS Real Estate Partners has negotiated the $4.7 million ground-lease sale of a newly developed, single-tenant restaurant property located in Clovis, roughly eight miles west of Fresno. Chick-fil-A occupies the 4,847-square-foot building, which is situated near California State University, on a 15-year absolute triple-net lease. Alexander Moore of SRS Real Estate represented the seller, a San Franciso Bay Area-based investor, in the transaction. The buyer was a Central Valley-based private investor.
Ventura, Calif. — A joint venture between Pacific Retail Capital Partners (PRCP) and Conversant Capital LLC has acquired Pacific View Mall, an 884,000-square-foot super-regional shopping center located in Ventura, about 30 miles northwest of Santa Barbara. Originally opened in 1964 and renovated in 2017, Pacific View Mall features a mix of more than 130 national retailers such as Target, Macy’s, JCPenney, Sephora, Ross Dress for Less, Victoria’s Secret, Trader Joe’s and 24 Hour Fitness. The two-story property also comprises an 11-option food-court and dining destination including Wood Ranch, Red Robin and …
Burlingame and Pleasanton, Calif. and Honolulu — West Palm Beach, Florida-based Sterling Organization has acquired three shopping centers totaling 277,057 square feet in California and Hawaii. The portfolio included Safeway Burlingame in Burlingame; Pleasanton Gateway Shopping Center in Pleasanton; and Kapahulu Shopping Center in Honolulu. Collectively, the properties were 99 percent leased at the time of sale and are each anchored by a Safeway grocery store. Safeway Burlingame totals 70,174 square feet. Alongside Safeway, additional tenants at the fully leased property include Union Bank, AT&T, StretchLab, Five Guys, Drybar and Great …
Victorville, Calif. — Hanley Investment Group Real Estate Advisors has negotiated the $9.3 million sale of a 44,388-square-foot retail property located in Victorville, approximately 35 miles north of San Bernardino. Sprouts Farmers Market anchors the property, which also includes a 21,000-square-foot junior box space available for lease. Built in 1989 and renovated in 2024, the property is situated within Village Center, a 350,000-square-foot community center. Village Center features a mix of tenants such as BioLife Plasma Services, Dollar Tree, Hobby Lobby, PetSmart, La-Z-Boy, Mattress Firm, Crunch Fitness and Get Air Trampoline …
Thousand Oaks, Calif. — The Sigmund Cos. (TSC), in partnership with Shoreline Street Partners, has acquired University Shopping Center, a 37,992-square-foot retail property located in Thousand Oaks, roughly 38 miles west of Los Angeles, for $17.6 million. Trader Joe’s anchors the property, which features a mix of additional tenants such as Fresh Donuts, 3Tails Dog Salon, PJ’s Pub, Allegro Pizza, Imperial Garden Chinese Restaurant and Launderland, among others. University Shopping Center was 83 percent leased at the time of sale. The property was acquired in two separate transactions. The first …
California — JLL has arranged $154.1 million in financing for a six-property, 1.3 million-square-foot retail portfolio spanning California, Arizona and Georgia. Chris Drew, John Marshall, Wells Waller, Jarrod Howard, Gabriel Davenport and Preston Bacon of JLL secured financing for the borrowers, Kimco Realty Corp. and an institutional joint venture partner advised by J.P. Morgan Asset Management. The portfolio includes Morena Plaza in San Diego, Rancho San Diego in El Cajon, and Vail Ranch Plaza and Redhawk Towne Center in Temecula, California; North Decatur Station in Decatur, Georgia; and The Summit at …
