California

Desert-Sky-Plaza-II-Victorville-CA
CaliforniaDevelopmentNews

NewMark Merrill-Led Partnership to Develop 297,363-Square-Foot Retail Center in Victorville, California

by Abby Cox

Victorville, Calif. — NewMark Merrill Cos., in partnership with World Premier Investments and R.Y. Properties, has received entitlements to develop Desert Sky Plaza II, a 30-acre shopping center located at the southeast corner of Roy Rogers Drive and Amargosa Road in Victorville, approximately 35 miles north of San Bernardino. NewMark Merrill is scheduled to break ground on the project in the second quarter of 2026 with the opening planned for fall 2027. Designed by Architects Orange and Kimley-Horn, Desert Sky Plaza II will be the second phase of the existing Desert …

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Lancaster Marketplace
CaliforniaFinanceIllinoisInvestment salesNewsOregonWisconsin

Gantry Arranges $42.8 Million in Refinancing for Four Retail Properties Across Four States

by Abby Cox

San Francisco — San Francisco-based Gantry has arranged four separate permanent loans totaling $42.8 million to refinance four retail properties in California, Illinois, Oregon and Wisconsin. Andy Bratt and Sean Kuang of Gantry arranged all four loans through a single life company lender on behalf of the borrower, a series of Rhino Investments Group (RIG) affiliates. The loans carry fixed interest rates with 30-year amortization schedules. Gantry will service the loans. The loan proceeds were used to retire existing debt, fund tenant improvements and provide additional cash-out tied to executed leases …

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Prospect Square
CaliforniaInvestment salesNews

Marcus & Millichap Brokers Sale of 33,055-Square-Foot Mixed-Use Property in La Jolla

by Abby Cox

San Diego — Marcus & Millichap has arranged the sale of Prospect Square at La Jolla Village, a mixed-use property located in San Diego’s La Jolla submarket. 1025 Prospect LLC sold the asset to 1025 Associates LLC & Wedge 3.0 LLC for $10.3 million. Nick Totah of Marcus & Millichap represented the seller, while Ross Sanchez, also of Marcus & Millichap, represented the buyer in the deal. Prospect Square at La Jolla Village features 33,055 square feet of ground-floor and second-floor retail and restaurant space, third-floor office space and a three-story …

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DLR_Group_The-Walk
CaliforniaDevelopmentMixed-useNews

Partnership Begins Construction on Mixed-Use Community in Metro Los Angeles

by Abby Cox

Norwalk, Calif. — A partnership between Primestor and the City of Norwalk is underway on The Walk, an 89,000-square-foot mixed-use community located in Norwalk, approximately 17 miles southeast of downtown Los Angeles. Designed by DLR Group, the project will be centered around pedestrian-friendly, landscaped pathways that will provide new dining, shopping and public spaces for guests and residents. The Walk is scheduled for completion by late 2027.

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Slatten Ranch Shopping Center
CaliforniaInvestment salesNews

JLL Arranges Sale of 118,187-Square-Foot Slatten Ranch Shopping Center Near San Francisco  

by Abby Cox

Antioch, Calif. — JLL Capital Markets has arranged the sale of Slatten Ranch Shopping Center, a 118,187-square-foot community center in Antioch, approximately 40 miles northeast of San Francisco. Eric Kathrein, Gleb Lvovich, Andrew Spangenberg and Allie Repaskey of JLL represented the seller, Camden Village LLC, in the transaction. The buyer was Sterling Organization. Slatten Ranch Shopping Center features a mix of tenants including Burlington, Harbor Freight, Five Below, Sephora, Champs Sports, European Wax Center, Starbucks Coffee, Men’s Warehouse, Sally Beauty, Carter’s, The Vitamin Shoppe, Cold Stone Creamery, Panda Express, T-Mobile and Jamba …

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The 25,008-square-foot retail center in Rancho Cucamonga, California, is fully occupied by 14 tenants.
CaliforniaFinanceInvestment salesNews

PSRS Negotiates $9.4 Million in Refinancing for Retail Center in Rancho Cucamonga, California

by Abby Cox

Rancho Cucamonga, Calif. — PSRS has negotiated a $9.4 million loan for the refinancing of a 25,008-square-foot neighborhood center in Rancho Cucamonga. Constructed in 2004, the retail property is fully occupied by 14 tenants. Jonny Soleimani, George Gianoukakis and Garrett Carter of PSRS secured the non-recourse loan, which features a five-year term and a 27-year amortization schedule, through one of its correspondent life insurance companies.

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mikes-red-tacos
CaliforniaDevelopmentNewsRestaurants

Mike’s Red Tacos Plans to Open More Than 200 Locations Nationwide

by Abby Cox

San Diego — San Diego-based Mike’s Red Tacos is planning to open more than 200 new locations across the country. A team of restaurant industry leaders, along with the original Mike’s Red Tacos founder Mike Touma, have secured development agreements with franchisees from Dave’s Hot Chicken, Jersey Mike’s, Blaze Pizza, Dunkin’, Little Caesars, Carl’s Jr. and Wetzel’s Pretzels. Company president and restaurant industry executive Vincent Montanelli is leading the expansion, while Bill Phelps and Andrew Feghali will support the concepts as early-stage investors and advisors. The 200-plus locations now in …

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CaliforniaInvestment salesNews

First Washington Realty Purchases Mission Park Marketplace in Santa Clara, California

by Abby Cox

Santa Clara, Calif. — First Washington Realty has acquired Mission Park Marketplace, a 23,204-square-foot retail strip center located in Santa Clara. Built in 2019 on 5 acres, Mission Park Marketplace spans five buildings and features a mix of tenants including Mendocino Farms, Starbucks Coffee, The Habit Burger Grill, Boichik Bagels, Teriyaki Madness and Orangetheory Fitness.

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Embassy-Plaza
CaliforniaInvestment salesNews

JLL Negotiates $20.3 Million Sale of Embassy Plaza in Los Angeles

by Abby Cox

Los Angeles — JLL Capital Markets has negotiated the $20.3 million sale of Embassy Plaza, a 70,121-square-foot shopping center located in the North Hollywood neighborhood of Los Angeles. Superior Grocers anchors Embassy Plaza, which was 67 percent leased at the time of sale. Other tenants include Starbucks Coffee, T-Mobile and Little Caesars. Daniel Tyner, Gleb Lvovich and Geoff Tranchina of JLL’s Investment Sales and Advisory team represented the buyer, a Los Angeles-based family office, in the transaction.

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Metreon_San-Francisco
CaliforniaEntertainmentInvestment salesNews

TMG, Bridges Capital Acquire 320,000-Square-Foot Metreon Shopping Center in Downtown San Francisco

by Abby Cox

San Francisco — TMG Partners and equity partner Bridges Capital LLC have acquired Metreon, a 320,000-square-foot, vertically oriented shopping center in downtown San Francisco. Built in 1999, the retail and entertainment destination is anchored by Target and a 16-screen AMC Theatres that features the tallest IMAX screen in North America. Locally based TMG and Bridges Capital purchased the four-story property from Acore Capital in a deed-in-lieu transaction. The sales price was not disclosed. The City and County of San Francisco will continue to retain ownership of Metreon’s ground lease through …

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