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University-Square-Rocklin-CA
CaliforniaDevelopmentMixed-useNews

LRE & Cos. Plans 10-Acre University Square Mixed-Use Development in Rocklin, California

by Hayden Spiess

Rocklin, Calif. — LRE & Cos. has unveiled plans for University Square, a 10-acre mixed-use development located at the intersection of Sunset Boulevard and University Avenue in Rocklin, a northeast suburb of Sacramento. The project is scheduled for completion by the end of 2025. University Square will feature more than 20,000 square feet of retail space; 5,000 square feet of space for fast food restaurants with drive-thrus; a 123-room Hilton Garden Inn hotel; a 10,000 square-foot daycare center; a 3,700-square-foot convenience store; and a car wash. The site is adjacent …

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Franciscan or Mohave Center-Freemont-Calif
CaliforniaGrocery-anchoredInvestment salesNews

JLL Brokers $40.5 Million Sale of Two Retail Centers in Fremont, California

by Hayden Spiess

Fremont, Calif. — JLL Capital Markets has brokered the $40.5 million sale of two retail centers located in Fremont. The first property, Franciscan Center, comprises 106,840 square feet and the second, Mohave Center, totals 10,228 square feet. Together, the centers were 92 percent leased at the time of sale to tenants including Safeway, Taco Bell, KFC, Burger King, Bank of America and 7-Eleven. Gleb Lvovich, Daniel Tyner, Geoff Tranchina and Eric Kathrein of JLL represented the undisclosed seller in the transaction. Sterling Organization acquired the properties.

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West-Coast-Dental-Rancho-Cucamonga-Calif
CaliforniaLeasingNews

Progressive Arranges 5,020-Square-Foot Lease at Hesperia Square in California

by Hayden Spiess

Hesperia, Calif. — Progressive Real Estate Partners has arranged a 5,020-square-foot lease with West Coast Dental (WCD) at Hesperia Square in Hesperia. WCD has signed a 10-year lease at the property, which is anchored by Vallarta and Dollar Tree. Albert Lopez of Progressive represented the landlord in the negotiations. Chris Beauchamp of Lee & Associates represented the tenant.

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Meadow-Lane-Plaza
CaliforniaFaris Lee InvestmentsInvestment salesNet leaseNews

Faris Lee Brokers $3.8 Million Sale of Shopping Center in Southern California

by Hayden Spiess

Colton, Calif. — Faris Lee Investments has brokered the $3.8 million sale of Meadow Lane Plaza, a shopping center located in Colton. The triple net lease property was fully occupied at the time of sale. Shaun Riley and Nick Miller of Faris Lee represented both the buyer, a California-based investor, and seller in the transaction.

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Corbin-Parthenia-Northridge-Calif
CaliforniaInvestment salesNews

NewMark Merrill Acquires 83,668-Square-Foot Retail Center in Metro Los Angeles

by Hayden Spiess

Northridge, Calif. — NewMark Merrill Cos. has acquired Corbin & Parthenia, an 83,668-square-foot retail center located in Northridge, roughly 30 miles outside Los Angeles. The buyer plans to invest in maintenance and upgrades to the property. Jim Patton and Greg Giacopuzzi of NewMark Merrill arranged the transaction, in collaboration with Greg Offsay and Carol Marmor of Illi Commercial.

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Walgreens-Minneapolis
CaliforniaFloridaIllinoisInvestment salesMinnesotaNews

Hanley Brokers Sales of Three Walgreens-Occupied Properties Totaling $22.6 Million

by Hayden Spiess

Corona Del Mar, Calif. — Hanley Investment Group Real Estate Advisors has brokered the sales of three single-tenant properties totaling $22.6 million. Each of the properties is leased to Walgreens. Kevin Fryman and Ed Hanley of Hanley, in association with ParaSell Inc., arranged the sale of the first property, located in Minneapolis, on behalf of the seller, a California-based private investor. A New York-based private investor purchased the 14,535-square-foot building for $6.6 million. Located in Sugar Grove, Illinois, the second property comprises 14,739 square feet. Bill Asher, Jeff Lefko and …

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Sky-Zone-Foothills-Plaza-Rancho-Cucamonga-Calif
CaliforniaEntertainmentLeasingNews

Sky Zone Signs 30,700-Square-Foot Lease in Rancho Cucamonga, California

by Hayden Spiess

Rancho Cucamonga, Calif. — Sky Zone has signed a lease for 30,700 square feet at 12449 Foothill Boulevard in Rancho Cucamonga. Sky Zone, which currently operates more than 200 locations throughout the country and Canada, will open an indoor entertainment park at the property, which is located within the 550,000-square-foot Foothill Marketplace. Paul Galmarini and Paul Su of Progressive Real Estate Partners arranged the lease on behalf of the landlord. Richard Cheng and Dan Fagan of Urban Lime Real Estate represented Sky Zone in the negotiations.

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Taco-Bell
CaliforniaInvestment salesNet leaseNewsRestaurants

Hanley Arranges $2.9 Million Sale of Single-Tenant Property in Corona, California

by Hayden Spiess

Corona, Calif. — Hanley Investment Group Real Estate Advisors has arranged the $2.9 million sale of a single-tenant retail property located in Corona. A Taco Bell Drive-Thru — operated by the tenant, Alvarado Restaurant Nation — occupies the 2,049-square-foot property on a triple-net-lease basis. Bill Asher and Jeff Lefko of Hanley represented the developer and seller, Evergreen Development, in the transaction. David Aschkenasy of Commercial Asset Group represented the 1031-exchange buyer, a locally based private investor.

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HHLA-Los-Angeles
CaliforniaInvestment salesLeasingNews

TTM Purchases 248,841-Square-Foot Retail Center in Los Angeles

by Hayden Spiess

Los Angeles — TTM Real Estate Capital has purchased HHLA, a 248,841-square-foot retail center located in the Westchester neighborhood of Los Angeles. Rebranded from The Promenade at Howard Hughes Center, the property underwent a $35 million renovation following its acquisition by the previous owner — Laurus Corp. with Torchlight Investors LLC as a preferred equity partner — in 2015 for $111 million.  Newmark brokered the sale. TTM also announced the addition of two tenants to the property, 60out Escape Rooms and Genio Global Entertainment’s Muhammed Ali Experience, which will open …

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CaliforniaFinanceGrocery-anchoredNewsWashington

BWE Secures $35 Million Refinancing for Shopping Center in Washington

by Hayden Spiess

Irvine, Calif. —Bellwether Enterprise Real Estate Capital LLC (BWE)’s Irvine office has arranged a $35 million loan for the refinancing of a shopping center located in the state of Washington. Tenants at the property, which was 95 percent leased at the time of sale, include a grocery store anchor and 100,000-square-foot big-box retailer. Tom Turnage and Joe Galosic Jr. of BWE secured the financing through a life insurance company on behalf of the borrower. The non-recourse loan carries a five-year term with interest-only payments for two years, followed by a …

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