Ceres, Calif. — PSRS has secured a $4 million loan for the refinancing of a retail property situated within Ceres Gateway Center in Ceres. Tractor Supply Co. occupies the 21,702-square-foot building, which was developed on a built-to-suit basis in 2023. Kostas Kavayiotidis and Matthew Farzinpour of PSRS arranged the non-recourse loan, which features a five-year term, on behalf of the undisclosed borrower. A correspondent life insurance company provided the loan.
Yucca Valley, Calif. — Hanley Investment Group Real Estate Advisors has brokered the $2 million sale of a single-tenant retail property located in Yucca Valley. Built in 2023, the property totals 3,596 square feet. Quick Quack Car Wash occupies the property, which is situated within a Stater Bros-anchored shopping center, on a triple-net ground lease. Bill Asher and Jeff Lefko of Hanley represented the seller, a California-based private partnership, in the transaction. The team also represented the buyer, a Pennsylvania-based private investor. According to Asher, the buyer owns a portfolio of …
Brentwood, Calif. — A joint venture between CenterCal Properties and Heitman has acquired The Streets of Brentwood, a 358,700-square-foot retail center located in Brentwood. The new owners plan to reimagine and enhance the property through the addition of a community gathering space and new retailers and restaurants. “Open-air lifestyle centers have demonstrated strong operating fundamentals post the COVID-19 pandemic,” says Gordon Black, portfolio manager at Heitman. “These fundamentals are further benefitting from minimal new supply and sustained demand from retailers, a trend we believe will continue.”
Irvine, Calif. — BWE has secured a $45.5 million loan for the financing of a Circle K portfolio across six states. Located in Arizona, Florida, Georgia, Louisiana, North Carolina and South Carolina, the portfolio comprises 104 single-tenant convenience store and gas station properties. Tom Kenny and Josh Boehling of BWE’s Irvine office arranged the loan through a life insurance company on behalf of the undisclosed borrower. The five-year fixed-rate financing features interest-only payments and a five-year extension option.
Fresno, Calif. — Faris Lee Investments has arranged the $5.3 million presale of a newly constructed, single-tenant retail property in Fresno. The Learning Experience daycare occupies the property on a long-term 20-year net-lease basis. Scott DeYoung, Jeff Conover and Greg Lukosky of Faris Lee represented the undisclosed seller in the transaction.
Alameda, Calif. — Hanley Investment Group Real Estate Advisors has arranged the $4 million sale of a single-tenant retail property located in Alameda, roughly 15 miles east of San Francisco. Jack in the Box occupies the building, which totals 2,583 square feet and features a drive-thru. Originally built in 1991, the property is situated within the shopping district of Downtown Alameda. Bill Asher, Jeremy McChesney and Jeff Lefko of Hanley, with Cherie Huillade of Colliers, represented the seller, CalBay Development, in the transaction. Jake Kim of Pinnacle Estate Properties represented the …
Oakland, Calif. — SITE Centers Corp. has completed the sale of a freestanding retail building located in Oakland for $44.4 million. Whole Foods Market occupies the property. An undisclosed buyer acquired 57,218-square-foot building, which was built in 2007. Eric Kathrein, Geoff Tranchina, Gleb Lvovich and Warren McClean of JLL Capital Markets represented the seller and procured the buyer in the transaction.
Aliso Viejo, Calif. — Hanley Investment Group Real Estate Advisors has arranged the $9.4 million sale of a multi-tenant retail building located in Aliso Viejo. Situated within Aliso Viejo Town Center, the building comprises 24,986 square feet. Built in 2004, the property was leased to tenants including Buffalo Wild Wings, Active Med Supply, Cold Stone Creamery and F45 Training at the time of sale. Other tenants at Aliso Viejo Town Center — which totals 380,000 square feet — include Ralphs, Staples, CVS/pharmacy, T.J. Maxx, HomeGoods PetSmart and Regal Cinemas. Sean Cox and …
Cathedral City, Calif. — Calmwater Capital has provided a $20.9 million loan for the acquisition of Cathedral City Marketplace, a shopping center located in Cathedral City, approximately seven miles southeast of Palm Springs. Rhino Investment Group is the borrower. Situated on 21 acres, the property totals 195,000 square feet. Tenants at the center include Kroger’s Food 4 Less, Planet Fitness, dd’s Discounts, DJ’s Sports Bar and Subway. Larry Grantham, Zach Novatt and DaJuan Bennett of Calmwater originated the loan. Jeff Sause, Chad Morgan, Daniel Skerrett and Jalynn Borders of JLL Capital …
Tulare, Calif. — Faris Lee Investments has brokered the $6 million sale of Tulare Pavilion Shopping Center in Tulare. Tenants at the property include Dollar Tree, Harbor Freight Tools and Big Lots. The center is situated near Tulare Outlet Center, which draws over 4 million visitors each year, according to Faris Lee.
