California

Fullerton Metrocenter

Fullerton, Calif. — Corona del Mar, California-based Space Investment Partners has acquired Fullerton Metrocenter, a 395,703-square-foot community center located in the Orange County city of Fullerton, for $118 million. The deal marks the largest sale of a retail asset in Orange County in the past eight years, according to Eastdil Secured, who represented the seller in the transaction. Originally built in 1988 and renovated in 2002, the center is situated on roughly 30 acres near California State University Fullerton. Sprouts Farmers Market, Target and PetSmart anchor the property, which was …

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Dutch Bros Coffee

El Centro, Calif. — Hanley Investment Group Real Estate Advisors has negotiated the $2.6 million sale of a single-tenant retail building located in El Centro. Dutch Bros Coffee occupies the drive-thru property on a 15–year, absolute triple-net-lease with 10 percent rental increase every five years. Formerly a Wendy’s fast-food restaurant, the 2,411-square-foot building was originally built in 1988. Situated on an outparcel to a Vons-anchored retail center, nearby tenants include Smart & Final Extra!, Dollar General Market, Costco, Lowe’s, Target and Ashley Furniture. Bill Asher, Jeff Lefko and Beau Velten …

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Redlands, Calif. and Walnut, Calif. — Majestic Realty Retail, a division of Majestic Realty Co., has signed leases with four new tenants across its Southern California retail portfolio. Burlington Stores has already opened at Citrus Plaza, a 545,000-square-foot regional lifestyle power center located in Redlands. Total Wine & More and Handel’s Homemade Ice Cream have also opened at Mountain Grove, Citrus Plaza’s 470,000-square-foot sister project. Additionally, Einstein Bros. Bagels has secured a space at The Village Shopping Center, a 129,000-square-foot shopping center situated in the Los Angeles suburb of Walnut. Main …

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Mission Escondido Shopping Center

Escondido, Calif. — Capstone Advisors has completed the $1 million renovation of Mission Escondido Shopping Center, a 41,530-square-foot shopping center located in Escondido, approximately 30 miles north of San Diego. Originally built in 1980, the renovation project included a contemporary design with a refreshed color palette and standing seam metal roof, as well as drought-tolerant landscaping, updated site and tenant signage and parking lot improvements. Additionally, the center is now fully leased to 14 tenants including Dongbu Korean BBQ, Prism Jiu Jitsu and Swan Hair Salon. The renovation was designed by …

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Starbucks Coffee

Cathedral City, Calif. — Hanley Investment Group Real Estate Advisors has arranged the $3.7 million sale of a newly constructed, single-tenant retail property located in Cathedral City, roughly seven miles southeast of Palm Springs. Situated within the Cathedral Cove Center, a 1,900-square-foot Starbucks Coffee occupies the building on a 10-year triple-net-lease with 10 percent rent increases every five years. Bill Asher and Jeff Lefko of Hanley represented the seller in the transaction. Alexander Moore of SRS Real Estate Partners represented the 1031 exchange buyer, a Roseville, California-based private investor.

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Civic Center Plaza

San Marcos, Calif. — Locally based Brixton Capital has acquired Civic Center Plaza, a 60,000-square-foot shopping center located in San Marcos, roughly 35 miles north of downtown San Diego. Originally developed in 2007 in conjunction with the city, the four-building center was 97 percent leased at the time of sale. Other tenants include LA Fitness, FedEx, Subway, Robek’s, PizzaNova and Ryan Bros Coffee. Pete Bethea, Rob Ippolito and Glenn Rudy of Newmark represented the seller, the City of San Marcos, in the transaction, while Brixton internally represented the company in …

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Circle K convenience store

Cathedral City, Calif. — Hanley Investment Group Real Estate Advisors has arranged the $4.2 million sale of a newly constructed, single-tenant retail property located in Cathedral City, approximately seven miles southeast of Palm Springs. A 3,700-square-foot Circle K convenience store occupies the building, which is situated within Cathedral Cove Center on a 20-year triple-net-lease with 10 percent rent increases every five years. Circle K is scheduled to open in fall 2025. Bill Asher and Jeff Lefko of Hanley represented the seller and developer, Newport Beach, California-based Fountainhead Development, in the …

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Bixby Hacienda Plaza

Los Angeles — Progressive Real Estate Partners has signed leases with five tenants at Bixby Hacienda Plaza, a 135,000-square-foot retail center located in the Los Angeles suburb of Hacienda Heights. US Art Academy, Prime Taekwondo Center and Sumi Lashes are already open at the center. Later this year, Japanese retailer MINISO will open a 5,930-square-foot store on a 10-year lease, while PG Noodle will open in early 2026. Paul Su of Progressive represented the Cherng Family Trust in the lease negotiations, while James Rodriguez of Colliers represented MINISO in the transaction. …

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Strickland-Brothers

Corona Del Mar, Calif. — Corona Del Mar-based Hanley Investment Group Real Estate Advisors has arranged the $25 million sale of 11 newly constructed single-tenant retail properties tenanted by Strickland Brothers 10 Minute Oil Change over the past five months. Strickland Brothers occupies each of the buildings on a 15-year absolute triple-net-lease with 10 percent rent increases every five years. Jeff Lefko and Bill Asher of Hanley, in association with ParaSell Inc., represented the seller and developer, Southlake, Texas-based N3 Real Estate, in 10 transactions across Alabama, Missouri, North Carolina, …

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7-Eleven

Chino, Calif. — Hanley Investment Group has arranged the $7 million sale of a newly constructed, 5,596-square-foot single-tenant retail property located within the master-planned community of The Preserve in Chino. A 7-Eleven convenience store — which also features a Laredo Taco Co. quick-service restaurant and 12 fuel pumps — occupies the site on a 15-year, triple-net-lease basis with 10 percent rental increases every five years. Jeremy McChesney and Andrew Sprowl of Hanley represented the developer and seller, Ledo Capital Group, in the transaction. Adam Bloom of Lee & Associates represented the …

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