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.
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 …
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.
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 …
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 …
San Diego — NewMark Merrill has acquired a 2.5-acre land parcel to develop three retail buildings in the Otay Mesa neighborhood of San Diego. The fully leased project will feature new locations for Wendy’s, Dutch Bros Coffee and Quick Quack Car Wash. All tenants are scheduled to open in early 2027. NewMark Merrill executed the full scope of the project, including entitlement, permitting, leasing, financing and site development. Andrew Peterson and Chris Kehl of SRS Real Estate Partners represented NewMark Merrill in the leasing and procurement of all three tenants. In …
Ontario, Calif. — Progressive Real Estate Partners has brokered the $2.8 million sale of a freestanding restaurant building located in Ontario. Wienerschnitzel fully occupies the 2,739-square-foot building, which was built in 1998 and renovated in 2017. Lance Mordachini and Greg Bedell of Progressive Real Estate Partners represented the buyer, while David Lin of KoTai Commercial represented the seller, both private investors.
Los Angeles — Pegasus has arranged the $6.5 million sale of Laemmle NoHo 7, a 32,809-square-foot theater-anchored retail and office property in the North Hollywood neighborhood of Los Angeles. David Chasin of Pegasus represented the buyer, a locally based investor group led by the Laemmle family — founders and operators of Laemmle Theatres. Located at 5240 Lankershim Blvd. in the NoHo Arts District, the property was originally constructed in 2011. The acquisition was completed as part of a 1031 exchange following the disposition of a former theater property previously owned …
San Diego — Marcus & Millichap has arranged the sale of La Mesa, a 12,196-square-foot mixed-use property located in San Diego. Ross Sanchez and Nick Totah of Marcus & Millichap represented the seller and buyer in the deal. Located at 6760 University Ave., the property features a mix of 13 retail and office suites, 28 parking spaces, dual access points and high-visibility frontage. At the time of sale, the building was occupied by service-oriented tenants, including beauty, auto, legal and entertainment uses. The property was built in 1976.
Escondido, Calif. — Brixton Capital has acquired Escondido Gateway Shopping Center, an 89,252-square-foot retail center located in Escondido, approximately 30 miles northeast of downtown San Diego, for $28 million. Phil Lyons and Vince Provenzano of Cushman & Wakefield represented the seller, Del Mar, California-based Mountain Pacific Properties, in the off-market transaction. Brixton Capital represented itself. Built in 2003, Escondido Gateway Shopping Center spans four buildings and features a mix of tenants including Barnes & Noble, Michaels, Columbia Bank and Cocina del Charro, among others. The property was 96.8 percent occupied at …
