Adelanto, Calif. — Poppy Market has opened a 5,057-square-foot store in Adelanto. The store is situated within Adelanto Place, a 56,000-square-foot retail center. Lewis Retail Centers, which owns and operates 34 shopping centers in California and Nevada, is the landlord.
Solana Beach, Calif. — Capstone Advisors has acquired Beachwalk Shopping Center, a retail center located in Solana Beach, for $32.1 million. Capstone plans to implement physical upgrades and a curated tenant roster at the property, which totals 55,580 square feet across eight buildings. GEM Realty Capital, which purchased the property in April 2017, was the seller.
Riverside, Calif. — Hanley Investment Group Real Estate Advisors has brokered the $20.8 million sale of five outparcels at Citrus Landing, a shopping center located in Riverside. Stater Bros. anchors the center, which was fully leased at the time of the transaction. Together, the five properties total 25,916 square feet. Tenants at the pad and outparcel buildings include Chick-fil-A, Quick Quack Car Wash, Arrowhead Credit Union, Panda Express, Café Bottega and Pacific Dental. Kevin Fryman and Ed Hanley of Hanley represented the seller, a private investor, in the transaction. Art Flores …
Fresno, Calif. — Hanley Investment Group Real Estate Advisors has brokered the sale of the Shops at Broadway Faire, a multi-tenant retail pad located in Fresno. Tenants at the property, which is situated on an outparcel to a grocery-anchored shopping center, include Red Robin, FedEx, Conroy’s Flowers, Liquor 4U and OneMain Financial. Eric Wohl and CJ Kiehler of Hanley represented the seller, a New York-based investment trust, in the transaction. A local private investor acquired the pad.
Highland, Calif. — Progressive Real Estate Partners has brokered the $9.5 million sale of a single-tenant retail property located in Highland. Situated on an outparcel to Highlands Crossing, a regional shopping center, the property is occupied by a Chevron Station with a 3,000-square-foot ExtraMile Convenience Store and Express Car Wash. G & M Oil Co. acquired both the real estate and the business in the transaction. Victor Buendia of Progressive represented the seller, a San Diego-based private investor, in the sale. Scott Olson of C-Store Realty represented the buyer. The property …
Aliso Viejo, Calif. — Hanley Investment Group Real Estate Advisors has arranged the sale of a 7,914-square-foot building located in Aliso Viejo. Situated within Aliso Viejo Town Center, the currently vacant property previously housed Macaroni Grill. ValueRock Realty Partners acquired the building for $5.3 million. Sean Cox, Bill Asher and Kevin Fryman of Hanley represented the seller, a Florida-based private investor, in the transaction. Tenants at Aliso Viejo Town Center, which totals 380,000 square feet, include Ralphs, CVS/pharmacy, Staples, T.J. Maxx, HomeGoods, PetSmart and Regal Cinemas.
San Bernardino, Calif. — Progressive Real Estate Partners has arranged the $7 million sale of a portfolio comprising four single-tenant retail properties located in San Bernardino. Situated adjacent to each other, the properties are net leased to tenants including IHOP, Wienerschnitzel, Taco Bell and 76 Gas Station. The sale also included an additional 1.5 acres of land available for future development. Lance Mordachini and Trinnie Lee of Progressive represented the seller in the transaction. Kevin Kwan of Realiv represented the buyer.
Redlands, Calif. — Majestic Realty Co. Capital Markets has secured loans totaling $118.9 million for the refinancing of two shopping centers located in Redlands. Situated within a 100-acre mixed-use development, the properties — Mountain Grove Shopping Center and Citrus Plaza Shopping Center — together comprise roughly 1 million square feet. A life insurance company provided first trust deed loans of $62.4 and $56.5 million, respectively, for the centers, which Majestic Realty Co. and affiliates developed and manage. Tenants at the properties include Target, Harkins Theaters, Aldi, Nordstrom Rack, Kohl’s, Hobby Lobby, …
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 …
