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CaliforniaInvestment salesNews

JLL Arranges $91.3 Million Sale of 122,167-Square-Foot Neighborhood Center in Southern California

by Abby Cox

Carlsbad, Calif. — JLL Capital Markets has arranged the $91.3 million sale of The Beacon, a 122,167-square-foot neighborhood center located in Carlsbad, roughly 35 miles north of San Diego. The Beacon, which comprises 15.2 acres, was originally built in 1982 and renovated from 2020 to 2023. Luxury fitness brand Equinox anchors the center, which features a mix of additional tenants such as Arhaus, Sweetgreen, Shake Shack, Jeni’s Ice Cream, Pitfire Pizza and Lofty Coffee Co. Geoff Tranchina, Gleb Lvovich and Daniel Tyner of JLL represented the seller, Asana Partners. The buyer was …

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CaliforniaFloridaGrocery-anchoredNewsTexasVirginia

Bain Capital, 11North Acquire Five Open-Air Retail Centers Across Four States for $300 Million

by Abby Cox

California, Virginia, Florida and Texas — A joint venture between Bain Capital and 11North Partners has acquired five open-air retail centers for approximately $300 million. The properties total roughly 757,000 square feet and are located in Carlsbad, California; Falls Church, Virginia; Altamonte Springs, Florida; and Sugar Land, Texas. The seller was not disclosed. Anchor tenants of the portfolio include Harris Teeter, Trader Joe’s, Walmart, Costco and Equinox, with sales from those anchor stores exceeding $900 per square foot. The portfolio, which was more than 93 percent occupied at the time …

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CaliforniaInvestment salesMixed-useNews

Bridgeton Sells Retail, Office Component of Museum Parc in San Francisco for $19.3 Million

by Abby Cox

San Francisco — Bridgeton has sold the 36,000-square-foot retail and office component of Museum Parc, a mixed-use property located in San Francisco’s SoMa neighborhood. Built in 1989, Museum Parc features 234 luxury condominiums with ground-floor retail and office space. Tenants at the property, which was fully leased at the time of sale, include Crunch Fitness, El Dorado Latin Fusion, Aquabyte and TowerWAV. Eric Kathrein, Andrew Spangenberg and Allie Repaskey of JLL represented the seller in the transaction. DPI Retail was the buyer.

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CaliforniaInvestment salesNews

SRS Real Estate Negotiates $4.4 Million Sale of Single-Tenant Restaurant Property in Southern California

by Abby Cox

Palmdale, Calif. — SRS Real Estate has negotiated the $4.4 million sale of a single-tenant restaurant property located in the Southern California city of Palmdale. Chipotle will occupy the 2,325-square-foot building on a 15-year absolute triple-net corporate guaranteed lease. The newly constructed property is expected to open on June 4. Calvin Short and Jeff Christian of First Street Inc. represented the seller, Phoenix-based First Street Development, in the transaction. The buyer was a Los Angeles-based private 1031 exchange investor.

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CaliforniaInvestment salesNews

Faris Lee Investments Arranges $10.6 Million Sale of Three Convenience Stores

by Abby Cox

Irvine, Calif. — Irvine, California-based Faris Lee Investments has arranged the $10.6 million sale of three convenience stores in three separate transactions. Scott DeYoung, Jeff Conover, Greg Lukosky and Hunter Steffien of Faris Lee Investments represented the sellers, private family offices based in South Carolina, Atlanta and Dallas. The transactions included the sale of two newly constructed Murphy USA locations in Miami and Cordele, Georgia, along with a newly constructed Circle K located in Henderson, Nevada.

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CaliforniaFinanceNews

PSRS Arranges $24 Million in Refinancing for Retail Building in San Diego

by Abby Cox

San Diego — PSRS has secured $24 million in refinancing for a retail asset in San Diego. Located in the historic Gaslamp Quarter, the property offers 54,650 square feet of retail space. Tony Messiah of PSRS arranged the financing through one of the firm’s correspondent life insurance companies. The loan features a five-year term and a 25-year amortization schedule.

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CaliforniaDevelopmentNewsRestaurants

Wetzel’s Pretzels, Cold Stone Creamery to Open More Than 17 Co-Branded Locations in 2026

by Abby Cox

Pasadena, Calif. — Fast food bakery chain Wetzel’s Pretzels and ice cream parlor chain Cold Stone Creamery are expanding their national footprint through co-branded locations. The brands currently have three co-branded locations under development for May, with plans to open an additional eight units by the end of 2026. This pipeline is on top of several new co-branded locations that opened earlier this year. Recent or upcoming openings include: • Clifton Park, New York • Columbus, Ohio • Alamo Ranch, Texas • Bennington, Nebraska • Bronx, New York • Lewisville, Texas …

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CaliforniaInvestment salesNews

CBRE Brokers $6.2 Million Sale of Harbor Central Retail Center in West Sacramento

by Abby Cox

West Sacramento, Calif. — CBRE has arranged the $6.2 million sale of Harbor Central, a 22,198-square-foot neighborhood center located in West Sacramento. A subsidiary of CJ Park & Associates acquired the property from an entity doing business as Harbor Corners LLC for $6.2 million. Randy Getz and Rick Martinez of CBRE represented the seller in the deal. Situated at 805-831 Harbor Blvd., Harbor Central was built in 1992 on 1.7 acres. Current tenants include Vista Paint, Domino’s Pizza, Subway and Raku Sushi.

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CaliforniaNewsPower centersRetailers

Nordstrom Rack to Open Two New California Stores

by Abby Cox

Marina del Rey and Torrance, Calif. — Seattle-based fashion retailer Nordstrom plans to open two new Nordstrom Rack stores in Southern California. One of the stores will be located at Marina Marketplace, a 414,325-square-foot power center located in Marina del Rey, approximately 12 miles west of downtown Los Angeles. Tenants at Marina Marketplace, which is leased and managed by JLL, include Gelson’s Market, Equinox, Ulta Beauty, Barnes & Noble, Yard House and an AMC Dine-In Theatre. The second store will be situated at Rolling Hills Plaza, a 500,000-square-foot retail center located …

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CaliforniaInvestment salesNews

Hanley Investment Group Negotiates $12.2 Million Sale of Single-Tenant Retail Property in Central California

by Abby Cox

Madera, Calif. — Hanley Investment Group Real Estate Advisors has negotiated the $12.2 million sale of a newly constructed, single-tenant retail property located in the San Joaquin Valley city of Madera. The property spans 4,644 square feet and is occupied by a 7-Eleven convenience store and gas station, with commercial diesel fueling lanes. This transaction marks the highest‑priced, single‑tenant 7‑Eleven property ever sold in California and the first and only 7‑Eleven location in the city, according to Hanley. Sean Cox and Bill Asher of Hanley Investment Group Real Estate Advisors represented …

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