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ocVIBE-Anaheim-CA
CaliforniaDevelopmentMixed-useNews

Anaheim City Council Approves $4 Billion ocV!BE Mixed-Use Entertainment District Surrounding Honda Center

by Hayden Spiess

Anaheim, Calif. — The Anaheim City Council has approved plans for the $4 billion ocV!BE mixed-use entertainment district to surround the Honda Center, home of the NHL’s Anaheim Ducks. With this approval, construction of the project is scheduled to begin before the end of the year. Plans for the 95-acre development call for a 5,700-seat concert hall, 50,000-square-foot market hall, 20 acres of public space, two hotels totaling 650 rooms, approximately 1.1 million square feet of office space and 1,500 apartments with a 15 percent affordable housing component. The site …

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CaliforniaGrocery-anchoredInvestment salesNews

SRS Brokers $17.3 Million Sale of Three Retail Outparcels at French Valley Marketplace in California

by Hayden Spiess

French Valley, Calif. — SRS Real Estate Partners has arranged the portfolio sale of three retail properties that are outparcels to French Valley Marketplace, located at 35958 Winchester Road in French Valley. A Southern California-based private developer sold the assets to a Southern California-based private investor for $17.3 million in an all-cash transaction. The three properties are: A 16,000-square-foot Grocery Outlet-occupied property that opened in late 2021. An 11,115-square-foot new construction property, which Rite Aid will occupy in late 2022. A 5,559-square-foot building currently under construction that Chipotle Mexican Grill …

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CaliforniaInvestment salesNet leaseNewsRestaurants

SBH Real Estate Group Divests of Pollo Campero-Occupied Restaurant Property

by Hayden Spiess

Covina, Calif. — SBH Real Estate Group has completed the disposition of a triple-net-leased restaurant asset located at 1477 N. Azusa Ave. in Covina. HB Property Management acquired the asset for $4.6 million. Pollo Campero, a fast-casual restaurant chain, signed a 15-year ground lease to occupy the restaurant property, which is slated to open for business at the end of September. Matt Schwartz of Newmark represented Eric Silverman of SBH Real Estate Group, while Moon Lim of JLL represented the buyer in the deal.

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Kalaveras
CaliforniaInvestment salesNewsRestaurants

Progressive Real Estate Partners Arranges $2.8 Million Sale of Restaurant Building in Moreno Valley

by Hayden Spiess

Moreno Valley, Calif. — Progressive Real Estate Partners has arranged the $2.8 million sale of a property located in Moreno Valley to Southern California-based Mexican restaurant chain Kalaveras. The 8,927-square-foot building previously housed a Woody’s Restaurant, which closed in late 2021. Albert Lopez and Greg Bedell of Progressive represented the seller, a Southern California-based private investor. Allen Kirschbaum of Saddleback Realty represented Kalaveras in the transaction.

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Promenade-at-Downey
CaliforniaLeasingNews

Promenade at Downey Adds Seven New Tenants in Metro Los Angeles

by Katie Sloan

Downey, Calif. — Seven new businesses are joining the tenant roster at Promenade at Downey, a 656,000-square-foot retail center in Downey, located roughly 13 miles outside of Los Angeles. Guacamaya Oasis, Xécora Gastronomía Urbana and Zen Med Spa have already opened, with Fire Wings, Handel’s Homemade Ice Cream, Crumbl Cookies and Daiso set to open in fall of this year. 

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Manhattan-Village
CaliforniaLeasingNews

New Tenants to Open at Manhattan Village in Manhattan Beach, California

by Hayden Spiess

Manhattan Beach, Calif. — West Elm, Alo Yoga and Saint & Second are among seven new tenants set to open at Manhattan Village in Manhattan Beach, California. Scheduled to open in 2022 and 2023, these tenants will join other recent additions to the 648,000-square-foot center, such as Anthropologie and Urban Outfitters. This expansion of retail and dining offerings comes following the completion earlier this year of a $250 million redevelopment project managed by JLL.

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La-Pico-Plaza-Whittier-CA
CaliforniaInvestment salesNews

Progressive Real Estate Brokers $5.8 Million Sale of La Pico Plaza Shopping Center in Metro Los Angeles

by Katie Sloan

Whittier, Calif. — Progressive Real Estate Partners has arranged the sale of La Pico Plaza, a neighborhood shopping center located at 9150 Painter Ave. in Whittier, roughly 15 miles outside Los Angeles. An Orange County-based private investor sold the property to Desert Capital Ventures for $5.8 million. Circle K anchors the 20,939-square-foot retail center, which was fully leased to 14 tenants at the time of sale. Greg Bedell of Progressive Real Estate Partners represented the buyer, while Drew Wetherholt of Marcus & Millichap represented the buyer in the deal. 

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CaliforniaInvestment salesNews

SBH Real Estate Group Sells 7-Eleven-Occupied Property in Gardena, California for $6.9 Million

by Katie Sloan

Gardena, Calif. — SBH Real Estate Group has completed the disposition of a commercial property located at 3121 Marine Ave. in Gardena. Masuda Investments acquired the asset for $6.9 million. 7-Eleven occupies the building on a 15-year corporate ground lease. The property includes a 3,000-square-foot convenience store and six gas station islands. The tenant opened for business in early 2022. Jeremy McChesney of Hanley Investment Group represented Eric Silverman of SBH Real Estate Group, while Trevor Morse and Chris Kostanecki of CPPRE represented the buyer in the deal.

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12650-Day-St-Moreno-Valley-CA
CaliforniaInvestment salesNews

Gateway Co. Sells 13,000-Square-Foot Retail Building at Towngate Promenade in Moreno Valley, California

by Katie Sloan

Moreno Valley, Calif. —Gateway Co. has completed the disposition of a retail building at the Towngate Promenade in Moreno Valley. A private party acquired the asset for $2.8 million. The buyer will use the 13,000-square-foot building to accommodate a Kids Empire franchised location. Kids Empire encourages healthy, happy active play for children of all ages and features age-appropriate play structures, climbing walls, slides and rides. Headquartered in Southern California, Kids Empire currently has more than 30 locations in 10 states across the country. Located at 12650 Day St., the Kids Empire indoor playground …

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5731-Bickett-St-Huntington-Beach-CA
CaliforniaDevelopmentInvestment salesNet leaseNews

Stan Johnson Co. Brokers $48.7 Million Sale of 56,000-Square-Foot Target Development Near Los Angeles

by Katie Sloan

Huntington Park, Calif. — Stan Johnson Co. has brokered the sale of a freestanding retail property located at 5731 Bickett St. in Huntington Park, just southeast of downtown Los Angeles. A New York-based private investor acquired the asset for $48.7 million. Principal Life provided acquisition financing. Developer Shane Cos. will complete the 56,000-square-foot building in January 2023. Target will occupy the property under a long-term, triple-net lease. Situated on 4.1 acres, the site will feature a Starbucks Coffee, Tesla charging station and an urban-format Target. Jason Maier of Stan Johnson Co. represented …

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