Fresno and Clovis, Calif. — HKS Real Estate Advisors has arranged $7.8 million in construction financing for two ground-up retail developments in Fresno and Clovis. Alex Dobosh and Andrew Pilchick of HKS secured the loans through North American Savings Bank on behalf of the borrower, Bottom Line Group. The first project will be a 4,771-square-foot 7-Eleven convenience store and gas station located in Fresno. The second project, which will total 11,353 square feet, will feature another 7-Eleven and a three-unit retail building in Clovis. Chipotle Mexican Grill and Phoenician Express have …
Anaheim, Calif. — Newmark Pacific has arranged the $16.5 million sale of Link OC, a shopping center in Anaheim. An undisclosed seller sold the property to Northpond Acquisition. Located at 1071, 1081 and 1095 N. Tustin Ave., Link OC features 26,385 square feet of necessity-based retail space and was fully leased at the time of sale. Current tenants include Reborn Coffee, Wendy’s, Byblos Mediterranean Grill, Pampanga Food Co., Spin Poke & Grill and MD Clinics Urgent Care. The property was renovated in 2017. Pete Bethea, Glenn Rudy and Rob Ippolito of …
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.
City of Industry, Calif. and Egg Harbor Township, N.J. — Spencer Spirit Holdings has signed a definitive agreement with Sycamore Partners to acquire Hot Topic and its portfolio of brands: Hot Topic, BoxLunch and Her Universe. The transaction unites six complementary retail concepts under one umbrella, expanding the combined company’s total footprint to more than 3,000 stores across North America. After closing, Hot Topic, BoxLunch and Her Universe will continue to operate independently from the Spencer Spirit business and maintain their existing headquarters in California. The transaction, which is subject to customary …
Rancho Mirage, Calif. — Storyliving by Disney has signed leases with six new tenants at Cotino Bay Beach, Dining and Shops, a waterfront town center underway in Rancho Mirage, approximately 10 miles southeast of Palm Springs. New tenants include Asada Cantina + Kitchen, Mojave Flea Trading Post, SottoSopra, Big Juice, It Refills and La Dolce Piccola Gelateria. The newest businesses join previously announced restaurants and retailers including Elevare, Artigiano and On the Mark Fine Foods & Provisions. The first phase of dining, retail and gathering spaces at the town center is …
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.
Fontana, Calif. — Faris Lee Investments has arranged the $5.3 million sale of a 4,872-square-foot retail strip center located in the Inland Empire city of Fontana. The five-tenant property was fully leased at the time of sale to Chipotle Mexican Grill, Jersey Mike’s Subs, Dragon Grill, Phantom Fireworks and KWIK Charge EV charging stations. Two of the property’s five tenants — Phantom Fireworks and KWIK Charge EV charging stations — lease parking lot areas, rather than occupying traditional building space. The retail center is positioned as a pad building in front of …
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 …
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