Livermore, Calif. — Hanley Investment Group Real Estate Advisors has brokered the sale of a 4,821-square-foot single-tenant property net leased to Chick-fil-A in Livermore, about 45 miles east of San Francisco. Bill Asher and Jeff Lefko represented the seller, Meridian, in the $10.4 million transaction. An undisclosed 1031-exchange buyer acquired the property, which is located in Arroyo Plaza, adjacent to Home Depot and Walmart.
Irvine, Calif. — JLL Capital Markets has secured $245 million in refinancing for a portfolio of six commercial real estate properties across California. The portfolio includes three retail centers in coastal Orange County. Anchored by CVS/pharmacy, Aliso Creek Shopping Center comprises 49,149 square feet in Laguna Beach and is 92 percent leased. Flower Hill Promenade is a 168,249-square-foot retail center located in Del Mar. Anchored by Whole Foods Market, the center is 95.6 percent occupied. The final retail property, The Landing, is located in Newport Beach. Comprising 44,289 square feet, …
Palmdale, Calif. — Bridge Group Investments and Steerpoint Capital have purchased Antelope Valley Mall in the North Los Angeles community of Palmdale for $60 million. The property, which comprises 1 million square feet, is anchored by Dillard’s, Macy’s and JCPenney. Other tenants include Dick’s Sporting Goods, Old Navy, Oishi Japanese Sushi Bar and Grill and Blaze Pizza. The center also features a 16-screen Cinemark theater. The firms — which previously acquired The Shops at Montebello in Montebello, California — plan to add new amenities, as well as dining and entertainment …
Downtown Riverside, Calif. — Progressive Real Estate Partners has brokered the sale of two adjacent single-tenant properties located in Downtown Riverside in separate deals totaling $4.2 million. The first property, 3940 University Ave., was acquired by an undisclosed buyer for $2 million in an all-cash transaction. Plant Power, a fast-casual restaurant with a drive-thru and patio, occupies the building. Richie’s Hot Chicken and Carlo’s Tijuana Tacos, which are leased and run by the same operator, occupy the second property at 3980 University Ave. An undisclosed buyer purchased the property for …
La Verne and Montebello, Calif. — Newmark has brokered the sale of a portfolio featuring three grocery-anchored retail centers totaling 400,000 square feet, all located near Los Angeles. Pete Bethea, Glenn Rudy, Rob Ippolito, Bill Bauman and Kyle Miller of Newmark represented the seller, Combined Properties Inc., in the $137 million transaction. Institutional investor EDENS acquired the properties. The first property, The Commons at La Verne, spans 120,720 square feet in La Verne, California. The center is anchored by Vons and Ross Dress for Less. The second property, Foothill Plaza, …
Los Angeles — A private family has completed the disposition of a retail property in the Studio City neighborhood of Los Angeles. A private investor acquired the property for $6.9 million. Sit ‘n Sleep, a mattress retailer, has occupied the two-story, 15,000-square-foot building at 12318 Ventura Blvd. for 11 years. The tenant’s current lease terminates in 2023, with a six-year option to renew. Tanel Harunzade, Darrell Levonian and Brittney McCarthy of Kidder Mathews represented the seller in the deal.
Carlsbad, Calif. — Progressive Real Estate Partners has brokered the sale of a 4,584-square-foot retail center located in Carlsbad Village in Carlsbad, roughly 35 miles north of San Diego. Mike Lin of Progressive represented the private New York-based seller in the $4.5 million transaction. A private San Diego-based investor, represented by Josh Simms and Ryan King of Voit Real Estate Services, acquired the property. Built in 2019, the center comprises three units currently occupied Harumana Noodles + Buns, Village Optical and The Shop Salon, all occupied on triple net leases.
Folsom, Calif. — Faris Lee Investments has arranged the sale of a retail building located at 905 E. Bidwell St. at The Bidwell Center in Folsom, roughly 20 miles northeast of Sacramento. VR Folsom, an Orange County-based private family office, sold the property to a La Jolla-based buyer for $11.3 million. Jeff Conover, Shaun Riley and Scott DeYoung of Faris Lee represented the seller, with Infinity Investment Properties representing the buyer in the deal. Situated on 2.7 acres, Sprouts Farmers Market occupies the single-tenant property. The tenant has a 15-year, …
Los Angeles — Parkview Financial has provided a $35 million senior construction loan to a venture between Ratkovich Co. and Jerico Development for the development of West Harbor, a retail center along the Los Angeles waterfront in the San Pedro neighborhood. The financing from Parkview is in addition to $55 million of Commercial Property Assessed Clean Energy financing, as well as $85 million of investor equity. Situated on 42 acres at 1200 Nagoya Way, West Harbor will feature more than 125,460 square feet of multi-tenant retail space. Scheduled for completion …
Chino, Calif. — Progressive Real Estate Partners has brokered the sale of Chino Village, a neighborhood retail center located at 4103 Riverside Drive in Chino. An Orange County-based seller sold the property to a Los Angeles-based private investor for $8.4 million. The purchase included the retail center and approximately 2.5 acres of undeveloped land with flexible zoning. Built in 1984, Chino Village features 20,600 square feet of retail space with more than 380 feet of frontage along multiple points of access. Current tenants include Jiffy Lube, Subway, Wienershnitzel and a …
