San Francisco — BH Properties has acquired Anchorage Square, a 322,000-square-foot mixed-use property located in Fisherman’s Wharf in San Francisco. Built in 1974 and situated on 2.6 acres, the development features 63,000 square feet of retail space, as well as a 128-room hotel, 28,000 square feet of office space and a 685-space parking garage. The buyer plans to implement an extensive capital improvement program, which will include upgraded façades, landscaping, lighting, signage, wayfinding and tenant and common areas. The firm will also explore alternative uses for the office space such as …
California
Oxnard, Calif. — Marcus & Millichap Capital Corp. has arranged a $7.5 million loan for the acquisition of a 37,500-square-foot single-tenant retail property located in Oxnard. Esporta Fitness occupies the building, which was constructed in 1970 and renovated in 2017. Ron Balys secured the financing on behalf of the buyer.
San Diego — Kilroy Realty Corp. (NYSE: KRC), an office, mixed-use and life sciences REIT based in Los Angeles, has obtained a $375 million loan for a portion of One Paseo, a mixed-use campus in San Diego. New York Life Insurance Co. provided the 11-year, non-recourse loan, which features a fixed 5.9 percent interest rate. The loan matures in August 2034. The 36-acre property is situated between the city’s Carmel Valley neighborhood and Del Mar, as well as near I-5 and State Route 56. One Paseo is home to tenants including …
Los Angeles — Lazy Acres Natural Market has opened a 31,000-square-foot store in the Los Feliz neighborhood of Los Angeles, marking the sixth location for the brand. Landlord CGI+ Real Estate Investment Strategies developed the space after purchasing three adjacent properties, one of which was home to a 23,000-square-foot Rite Aid, in separate transactions. CGI+ reduced the existing building to its shell and core and rebuilt the structure with 8,500 square feet of new construction and added a parking lot. Lazy Acres offers natural and organic groceries, a bakery, coffee and …
Westminster, Calif. — R.D. Olson has broken ground on Bolsa Row Terrace, a 26,211-square-foot shopping center project in Westminster’s Little Saigon District. The property will feature shopping and dining options overlooking a landscaped courtyard with al fresco bistro seating upon completion, which is planned for early 2024. This marks the second phase of a larger, six-acre project for developer IP Westminster.
Modesto, Calif. — Hanley Investment Group Real Estate Advisors has brokered the $4.1 million sale of a retail pad building located in Modesto. Built in 2018 and situated within a Save Mart-anchored shopping center, the multi-tenant building totals 6,402 square feet. Tenants at the property include Pacific Dental Services, Mountain Mike’s Pizza and West Coast Sourdough Deli. Jeff Lefko and Bill Asher of Hanley represented the seller, Covenant Real Estate Group, in the transaction. A California-based buyer acquired the property.
Fountain Valley, Calif. — Gantry has secured a $17 million permanent loan for the refinancing of Village Center, a 93,000-square-foot retail center located in Fountain Valley. Sprouts Farmers Market, Rite Aid and Dollar Tree anchor the property. Braden Turnbull, George Mitsanas and Austin Ridge of Gantry arranged the five-year, fixed-rate financing on behalf of the borrower, Paragon Commercial Group.
Long Beach, Calif. — SRS Real Estate Partners’ National Net Lease Group has brokered the $4.3 million sale of a single-tenant property located in Long Beach. Vans occupies the 3,749-square-foot building, which was built in 1926, on a triple-net-lease basis. Chris Tramontano and John Redfield of SRS represented the seller. Nathan Holthouser of Coastal Commercial Inc. represented the buyer.
Riverside, Calif. — Three tenants have signed leases totaling 24,220 square feet at Canyon Springs Marketplace in Riverside, bringing the property to 100 percent occupancy. Sephora and Urbane Café recently opened at the 183,000-square-foot center, occupying 4,320 and 1,600 square feet, respectively. Boot Barn has also signed a lease at the property and will open an 18,300-square-foot store this fall. Brad Umansky and Albert Lopez of Progressive Real Estate Partners represented the landlord, TDA Investment Property, in the leasing negotiations.
Rocklin, Calif. — Circle K has signed a 3,700-square-foot lease at University Square, a 10-acre mixed-use development currently underway in Rocklin. Upon completion, the convenience store and gas station will be situated on a site featuring more than 20,000 square feet of retail space and 5,000 square feet of space for quick-service restaurants. LRE & Cos. is the developer and landlord, and the development is scheduled for completion in late 2025.