California

Rancho Cucamonga, Calif. — Southern California-based firms Redwood West and Panattoni, in partnership with Prime Finance and Prism Places, have acquired Victoria Gardens, a 1.2 million-square-foot lifestyle retail center located in the Inland Empire city of Rancho Cucamonga. New York City-based Brookfield Properties, a subsidiary of Brookfield Corp., sold the open-air mall for $530 million. Ares Real Estate provided debt financing for the transaction. “We see tremendous opportunity with Victoria Gardens,” says John Pomer, co-founder and managing partner at Redwood West, “It is a one-of-a-kind, highly productive asset with deep roots in …

Murrieta, Calif. — Hanley Investment Group Real Estate Advisors has arranged the $6.9 million sale of two single-tenant retail properties located in Murrieta, roughly 65 miles north of San Diego. The property features two separate, standalone pads across 1.8 acres. Quick Quack Car Wash occupies 4,126 square feet on a 20‑year, absolute triple‑net ground lease that includes 12 percent rental increases every five years. There are 17 years remaining on the lease with multiple renewal options. Popeyes will occupy a 1,983-square-foot restaurant on the other pad on a 20-year absolute, triple-net …

Huntington Park, Calif. — SRS Real Estate Partners has negotiated the $11.4 million sale of a single-tenant retail property located in Huntington Park, roughly seven miles south of downtown Los Angeles. A Smart & Final grocery store occupies the 28,000-square-foot building, which was built in 2018. Joe Chichester, John Redfield and Kyle Zimmer of SRS Real Estate represented the buyer, a private investor based in Mexico City, in the transaction. The seller was a private investor based in Los Angeles.

West Covina, Calif. — Cincinnati, Ohio-based Phillips Edison & Co. has acquired the Shops at Plaza West Covina, a 46,406-square-foot shopping center located in West Covina, roughly 20 miles east of Los Angeles, for $25.6 million. Daniel Tyner, Geoff Tranchina and Gleb Lvovich of JLL represented the private seller in the transaction. Shops at Plaza West Covina was 88 percent leased at the time of sale to tenants including Bank of America, Jamba Urbane Café, SchoolsFirst Federal Credit Union, California Fish Grill and Gen Korean BBQ House, among others. The property …

San Bernardino, Calif. — Hanley Investment Group Real Estate Advisors has arranged the $3 million pre-sale of a newly constructed single-tenant retail property situated at the intersection of Redlands Boulevard and Hunts Lane in San Bernardino. The building will be occupied by a 7-Eleven commercial fueling lanes (CFL) prototype on a 15-year, triple-net ground lease. The location will serve as a bridge between a traditional convenience store and a truck stop, which includes high-speed diesel lanes for commercial vehicles, commercial truck diesel infrastructure compatible with the 7FLEET Diesel Network and diesel …

San Diego — Marcus & Millichap has arranged the sale of Prospect Square at La Jolla Village, a mixed-use property located in San Diego’s La Jolla submarket. 1025 Prospect LLC sold the asset to 1025 Associates LLC & Wedge 3.0 LLC for $10.3 million. Nick Totah of Marcus & Millichap represented the seller, while Ross Sanchez, also of Marcus & Millichap, represented the buyer in the deal. Prospect Square at La Jolla Village features 33,055 square feet of ground-floor and second-floor retail and restaurant space, third-floor office space and a three-story …