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165 E. Hospitality Lane
CaliforniaInvestment salesNews

Progressive Arranges $6.8 Million Sale of Multi-Tenant Property in San Bernardino, California

by Abby Cox

San Bernardino, Calif. — Progressive Real Estate Partners has arranged the $6.8 million sale of a multi-tenant commercial flex center located at 165 E. Hospitality Lane in San Bernardino. The 44,290-square-foot property comprises two buildings with suites ranging in size from 950 square feet to 1,930 square feet. Originally built in 1980, the center has been recently renovated. The center — which was 93 percent leased at the time of sale — features 24 tenants including retail, restaurant, healthcare, education, fitness, finance and office businesses. Situated in the Tri-City Commons/Hospitality …

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Chipotle Mexican Grill
CaliforniaDevelopmentInvestment salesLeasingNews

Hanley Arranges $5.9 Million Sale of Single-Tenant Retail Property in Torrance, California

by Abby Cox

Torrance, Calif. — Hanley Investment Group has arranged the $5.9 million sale of a newly-constructed, single-tenant property in Torrance, in the South Bay area of Los Angeles. Chipotle Mexican Grill occupies the building — which totals 3,570 square feet — on a 15-year, corporate guaranteed, triple-net lease. Bill Asher, Jeff Lefko and Sean Cox of Hanley represented the buyer, a Los Angeles-based private investor, in the all-cash transaction. Christopher Huddleston of The Sher Group represented the seller, a Los Angeles-based private investor.

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West Harbor
Architecture and DesignCaliforniaDevelopmentFinanceNews

Partnership Receives $61.5 Million in Refinancing for Waterfront Retail Development in Los Angeles

by Abby Cox

Los Angeles — A partnership between the City of Los Angeles, the Port of Los Angeles, Jerico Development and The Ratkovich Co. has received $61.5 million for the recapitalization of West Harbor, a waterfront retail development in Los Angeles’ San Pedro neighborhood. The recapitalization will fund the completion and stabilization of the dining, entertainment and retail project, which is adjacent to the Port of Los Angeles. The property is more than 80 percent pre-leased. Spanning 42 acres, West Harbor offers 117,205 square feet of leasable building area and 204,000 square …

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Crenshaw Plaza
CaliforniaFinanceGrocery-anchoredNews

JLL Arranges $32 Million Loan for Retail Center in Los Angeles

by Abby Cox

Los Angeles — JLL Capital Markets has arranged $32 million in financing for Crenshaw Plaza, a 146,901-square-foot grocery-anchored shopping center located in Los Angeles. The borrower is a joint venture between the principals of 21 Alpha Group and Intelligent Design Real Estate. Originally built in 1967 and renovated in 2004, Crenshaw Plaza was 97 percent leased at the time of sale. Vallarta Supermarkets anchors the center on a new 15-year lease. Additional tenants at the property include Planet Fitness, Foot Locker and AutoZone. Spencer Bergthold, Charles Halladay and Daniel Skerrett …

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CaliforniaInvestment salesNews

CBL Properties Sells Shopping Center for $38.1 Million in El Centro, California

by Abby Cox

El Centro, Calif. — CBL Properties has sold Imperial Valley Mall, a 762,695-square-foot regional mall located in El Centro, for $38.1 million. The property served as collateral under a non-recourse term loan held by CBL, where net proceeds from the sale were applied to the term loan’s principal balance. The shopping center — which opened in 2005 — is anchored by Dillard’s, JCPenney, Macy’s and Cinemark, and features a food court, more than 100 specialty shops and dining and entertainment options. CBL & Associates manages the retail center.

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The Plaza at Golden Valley
CaliforniaFinanceNews

Gantry Arranges $46.5 Million Financing for Power Center in Santa Clarita, California

by Abby Cox

Santa Clarita, Calif. — Gantry has arranged two loans totaling $46.5 million for the financing of The Plaza at Golden Valley, a 600,000-square-foot power center in Santa Clarita, 30 miles north of Los Angeles. The non-recourse loans carry a fixed-rate, 10-year term with a 30-year amortization schedule. Gantry will service the loans. The center is shadow-anchored by Target, Lowe’s and Kohl’s. Other tenants at the property include Trader Joe’s, Staples, BevMo!, T.J. Maxx, Panera Bread, Chili’s Grill & Bar, PetSmart, Popeyes, McDonald’s, Chipotle, Bath & Body Works, Daiso, The Habit …

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Quick Quack Car Wash
CaliforniaInvestment salesNews

Hanley Brokers Sale of Two Single-Tenant Car Wash Properties in California Totaling $5.4 Million

by Abby Cox

Grand Terrace and Lodi, Calif. — Hanley Investment Group has brokered the sale of two newly-constructed, single-tenant properties totaling $5.4 million in California. Quick Quack Car Wash occupies each property on a 20-year triple-net lease basis. The Quick Quack Car Wash located in Grand Terrace sold for $2.7 million. Bill Asher and Jeff Lefko of Hanley represented the seller and developer, 5th Street Development, in the transaction. Patrick Toomey of IPA represented the buyer, a Pasadena-based private investor. The car wash is an outparcel to a Stater Bros. Market-anchored shopping …

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Mama Lu's Dumpling House
CaliforniaCompany newsNewsRestaurants

DAUM Commercial Arranges Sale of 5,000-Square-Foot Restaurant Property in Arcadia, California

by Abby Cox

Arcadia, Calif. — DAUM Commercial Real Estate Services has arranged the sale of a 5,000-square-foot restaurant space in Arcadia, roughly 13 miles northeast of downtown Los Angeles. Dream1212 LLC, the owner of Mama Lu’s Dumpling House, acquired the property from an undisclosed seller for $4 million. The Arcadia property serves as Mama Lu’s sixth location. This acquisition is part of an expansion of the Chinese restaurant chain, with openings in Beverly Hills and Las Vegas planned for early 2025. Rudy Lara, Nathan Lara and Nick Peukpiboon of DAUM represented the …

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Volcom Retail Store Exterior and Trademark Logo
CaliforniaCompany newsNews

Liberated Brands Files for Chapter 11 Bankruptcy, Plans to Close 122 Stores 

by Abby Cox

Costa Mesa, Calif. — Liberated Brands, a licensed operator of several sport, outdoor and lifestyle apparel brands, has initiated Chapter 11 bankruptcy proceedings, according to court documents filed in Delaware.  Liberated Brands’ retail portfolio of brands includes Volcom, Billabong, Quiksilver, ROXY, Honolua Surf, RVCA, Beachworks, Becker Surfboards, ZJ Boarding House, Spyder and Boardriders. According to Gordon Brothers, which is providing real estate advisory services to the retailer, Liberated Brands plans to close its 122 stores throughout the country. Gordon Brothers — which earlier this year entered into a sales transaction with …

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The LAB Anti-Mall
CaliforniaLeasingNews

LAB to Add New Tenants, Renovations to Retail Center in Costa Mesa, California

by Abby Cox

Costa Mesa, Calif. — Small business concept The LAB, dubbed the anti-mall, has launched a renovation of its anchor space that will create room for new retailers. February 1 began the renovation process of the anchor space, a former Urban Outfitters store, which will accommodate several local businesses. Current tenants at the property include Habana, Buffalo Exchange, Seabirds Kitchen, Eco Now, Nook Coffee, Kuro Artisanal Pizza and Hanare. The new retail space is scheduled to open at the end of 2025. The LAB Anti-Mall — founded in 1993 — is …

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