California

Chula Vista, Calif. — JLL has arranged the $30.4 million sale of Terra Nova Plaza, a 96,114-square-foot retail center located in Chula Vista, roughly eight miles south of downtown San Diego. The center, which was fully leased at the time of sale, is occupied by a 44,477-square-foot Dick’s Sporting Goods and a 51,637-square-foot Floor & Décor store. Terra Nova Plaza is situated within a larger 301,000-square-foot, grocery-anchored regional shopping center that features a mix of tenants including Smart & Final, CVS/pharmacy, Marshalls, Chase Bank, Taco Bell, Jack in the Box and …

Encinitas, Calif. — RPG has acquired a 4,939-square-foot multi-tenant retail property located in Encinitas, roughly 25 miles north of downtown San Diego. The building was fully leased at the time of sale to five tenants including three retail shops and two restaurants. The seller and terms of the transaction were not released.

Alameda, Calif. — Marcus & Millichap has arranged the $5 million sale of a single-tenant retail property located in the Bay Area city of Alameda. Peet’s Coffee & Tea occupies the 3,000-square-foot building on a 10-year lease with annual rent increases. Mark Mason of Marcus & Millichap procured the buyer, a California-based private corporate trust. Brandon Norton and David Lucas of Monarch Commercial Advisors represented the seller, a California-based add-value private client.

Bakersfield, Calif. — San Diego-based Torrey Financial Group has sold a single-tenant retail property located in the San Joaquin Valley city of Bakersfield for $2.6 million. The 8,302-square-foot, newly renovated building was originally constructed in 2013. AutoZone occupies the property on a new 15-year triple-net lease featuring 10 percent rental increases every five years. Jeff Lefko and Bill Asher of Hanley Investment Group Real Estate Advisors represented the seller in the deal, while Greg Bedell and Lance Mordachini of Progressive Real Estate Partners represented the buyer, a Los Angeles-based investor.

National City, Calif. — A joint venture between Henderson Park and Lowe has acquired Plaza Bonita, a 1 million-square-foot enclosed regional mall in National City within San Diego County. The seller and sales price were not disclosed, but The San Diego Union-Tribune reports that Paris-based mall giant Unibail-Rodamco-Westfield sold the property for $201.5 million. Built in 1981, Plaza Bonita sits on a 78-acre site and serves the San Diego suburbs of National City and Chula Vista. Anchor tenants of the mall include Macy’s, Target, JCPenney, AMC Theatres, Nordstrom Rack and Round1. Overall, the …

Hacienda Heights, Calif. — Marcus & Millichap has brokered the $13 million sale of Hacienda Village, a 23,645-square-foot retail center located in Hacienda Heights, approximately 19 miles southeast of downtown Los Angeles in the San Gabriel Valley. Built in 1963, the property features 17 retail suites that are leased to a mix of local food-and-beverage and service-oriented tenants. A Los Angeles-based private investor acquired the property for $549.80 per square foot. Ron Duong of Marcus & Millichap represented the seller, an Orange County, California-based private partnership, in the transaction.

Newport Beach, Calif. — SRS Real Estate Partners has brokered the $6.2 million sale of a single-tenant retail property in Newport Beach. Super Star Car Wash occupies the 6,947-square-foot building on a corporate-guaranteed absolute triple-net lease, with approximately 20 years remaining. Calvin Short and Aron Cline of SRS Real Estate represented the seller, a Phoenix-based owner and operator. The buyer was a Los Angeles-based private investor.