California

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CaliforniaGrocery-anchoredInvestment salesNews

JLL Arranges $20.5 Million Sale of Crown Valley Mall Near Laguna Beach, California

by Abby Cox

Laguna Niguel, Calif. — JLL Capital Markets has arranged the $20.5 million sale of Crown Valley Mall, a 62,627-square-foot, grocery-anchored retail center located near Laguna Beach. A private family, which had owned the property since it was originally built in 1969, sold the property to Charlotte, North Carolina-based Asana Partners. Tenants at Crown Valley Mall include Smart & Final, Baja Fish Tacos, Domino’s and Avis. Daniel Tyner, Gleb Lvovich and Geoff Tranchina of JLL represented the seller and sourced the all-cash institutional buyer in the transaction.

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CaliforniaInvestment salesNews

Reports: Prado Group, Presidio Group Ventures End Bid for San Francisco Centre

by Abby Cox

San Francisco — Prado Group and Presidio Group Ventures, the prospective buyers for San Francisco Centre, have ended their bid to purchase the 1.5 million-square-foot mall, according to reports from San Francisco Times and San Francisco Chronicle. The Chronicle cited a joint statement from the potential buyers announcing that they remain “strong believers in the long-term future of downtown San Francisco” and the long-struggling shopping center’s “pivotal importance to Market Street and the broader San Francisco downtown recovery that is underway.” The partners were planning to transform one of the vacant …

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CaliforniaInvestment salesNews

Marcus & Millichap Arranges $5.1 Million Sale of Single-Tenant Restaurant Property Near Los Angeles

by Abby Cox

Woodland Hills, Calif.  — Marcus & Millichap has arranged the $5.1 million sale of a single-tenant retail property located in Woodland Hills, approximately 26 miles northwest of downtown Los Angeles. Built in 1978, the 10,000-square-foot building is leased to full-service Mexican restaurant El Torito. Brandon Michaels of Marcus & Millichap marketed the property on behalf of the seller, an entity doing business as Kia Canoga Warner LLC, and procured the buyer, a private investor.

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CaliforniaInvestment salesNews

Hanley Investment Group Negotiates $4.6 Million Sale of Two-Tenant Retail Property in Victorville, California

by Abby Cox

Victorville, Calif. — Hanley Investment Group Real Estate Advisors has negotiated the $4.6 million sale of a two-tenant retail property located in Victorville, approximately 35 miles north of San Bernardino. Located at 13720 Bear Valley Road, the 19,300-square-foot building was formerly occupied by Rite Aid and renovated in 2024. The property is currently leased to AutoZone and Dollar Tree on new 10-year triple-net leases and is situated within a Stater Bros.-anchored shopping center. Bill Asher and Kevin Fryman of Hanley Investment Group represented the seller, a Los Angeles-based private investor, in …

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CaliforniaFinanceNews

Gantry Arranges $15.4 Million in Financing for Two Retail Properties in Monterey Bay Region

by Abby Cox

Salinas and Capitola, Calif. — Gantry has arranged $15.4 million in permanent loans to refinance two separately owned neighborhood retail properties located at different ends of the Monterey Bay region. Tom Dao and Jake Davis of Gantry represented the borrowers, both private real estate investors. The first property, Creek Bridge Village in Salinas, features 35,000 square feet of retail space and 17 apartments spread across five buildings. The 10-year, fixed-rate nonrecourse loan was secured from one of Gantry’s correspondent life company lenders and features a 30-year amortization. Gantry will service …

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CaliforniaInvestment salesNews

Redwood West, Panattoni Acquire 394,616-Square-Foot Lifestyle Center in Long Beach, California

by Abby Cox

Long Beach, Calif. — Redwood West, in partnership with Panattoni, has purchased The Pike, a 394,616-square-foot waterfront retail, dining and entertainment center in Long Beach. Site Centers Corp. sold the property for $50 million, according to L.A. Business First. Bryan Ley and Tim Kuruzar of Northmarq represented the seller. Located at 95 S. Pine Ave., The Pike features mixed-use commercial space that was 91 percent leased at the time of sale. Current tenants include Cinemark Theaters, Restoration Hardware, EōS Fitness, Nike Factory Store, H&M, Levi’s, P.F. Chang’s, Gladstones, California Pizza …

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CaliforniaFinanceNewsPower centers

Walker & Dunlop Arranges $46 Million in Refinancing for Power Center in Metro Los Angeles

by Abby Cox

Rosemead, Calif. — Walker & Dunlop has arranged a $46 million loan for the refinancing of Rosemead Place, a 336,718-square-foot power center located in Rosemead, roughly 12 miles east of downtown Los Angeles in the West San Gabriel Valley. Trevor Fase and Lynn Pearson of Walker & Dunlop secured the fixed-rate, interest-only permanent debt loan. Joel Minugh and James Ko of Wells Fargo provided the loan for the borrower, a family office. Rosemead Place features a mix of tenants including Target, LA Fitness, Ross Dress for Less, PetSmart, ULTA Beauty and …

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CaliforniaDevelopmentNewsRetailers

Club Pilates Signs 70-Unit Development Deal Across Three States

by Abby Cox

Irvine, Calif. — Club Pilates has signed a franchise agreement with entrepreneur Saber Ammori to develop 70 new units across three states including Michigan, Maryland and New York. Ammori already owns and operates 14 Club Pilates studios in the New York City area. As part of the deal, Ammori and Boston-based private equity firm Cohere Capital have formed Renew Fitness to operate and develop the existing and future Club Pilates locations. The franchisee group’s total number of potential studios will increase to 84, making Renew Fitness one of Club Pilates’ …

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CaliforniaDevelopmentNews

RDC Redevelops Former Hardware Store Building, Opens 14,900-Square-Foot Erewhon Grocery Store in Glendale, California

by Abby Cox

Glendale, Calif. — RDC, in collaboration with high-end grocery chain Erewhon, has redeveloped a former Virgil’s Hardware building in Glendale. Situated at 520 North Glendale Ave., the historic 24,900-square-foot building was originally developed in the 1970s and has been vacant for more than five years. The redevelopment has transformed the hardware store into a 14,900-square-foot Erewhon grocery store that comprises 5,000 square feet of mezzanine space, along with 4,000 square feet of additional ground-floor tenant space. Erewhon acquired the property in 2024.

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CaliforniaInvestment salesNews

Marcus & Millichap Brokers $7.3 Million Sale of Retail Building in San Diego County

by Abby Cox

Escondido, Calif. — Marcus & Millichap has brokered the $7.3 million sale of a retail building located at 1580 W. Valley Parkway in Escondido. Dollar Tree and Big Blue Swim School fully occupy the 20,085-square-foot property on triple-net leases with rental increases during the initial lease terms and option periods. Alvin Mansour of Marcus & Millichap represented the undisclosed seller and procured the buyer in the deal. Chad O’Connor of Marcus & Millichap Capital Corp. arranged $4.7 million in acquisition financing for the undisclosed buyer.

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