California

Hanley Investment Negotiates $4.6 Million Sale of Restaurant Property in Southern California

by Julia Sanders March 18, 2022

Palm Desert, Calif. — Hanley Investment Group Real Estate Advisors has arranged the $4.6 million sale of a newly constructed, single-tenant restaurant property at Monterey Crossing shopping center in Palm Desert. The Habit Burger Grill occupies the 2,700-square-foot, drive-thru building, which is located at 73320 Dinah Shore Drive. Bill Asher and Jeff Lefko of Hanley Investment Group represented the seller and developer, Fountainhead Development, in the deal. John Costa, David Fults and Brian McLoughlin of Voit Real Estate Services’ Los Angeles office represented the buyer, a Southern California-based private investor.

March 18, 2022

California Faris Lee Investments Investment sales News

Faris Lee Brokers Sale of 117,228-Square-Foot Shopping Center in Southern California

by Julia Sanders March 15, 2022

Bakersfield, Calif. — Faris Lee Investments has arranged the sale of Ming Plaza, a retail center located on Ming Avenue in Bakersfield. A private family office sold the property to an undisclosed buyer for $26.5 million. Sean Cox, Alex Moore and Don MacLellan of Faris Lee Investments represented the seller and procured the buyer in the deal. Faris Lee also arranged financing for the buyer. At the time of sale, the 117,228-square-foot property was nearly 100 percent occupied and includes three outparcels leased to Starbucks Coffee, Chase Bank and Long …

March 15, 2022

California Investment sales News

Cushman & Wakefield Negotiates $24 Million Sale of Retail Building in West Hollywood

by Julia Sanders March 15, 2022

West Hollywood, Calif. — Cushman & Wakefield has brokered the sale of a freestanding, single-tenant retail property located at 8833 Beverly Blvd. in West Hollywood. A joint venture between Acadia Realty Trust and Osiris Ventures acquired the property for $24 million. Luxury Living fully occupies the 9,757-square-foot building. Kazuko Morgan, Carine Mamann and Steve Algermissen of Cushman & Wakefield represented the seller in the transaction.

March 15, 2022

California Leasing News

Whole Foods Market Opens 64,737-Square-Foot Store in San Francisco

by Julia Sanders March 11, 2022

San Francisco, Calif. — Whole Foods Market has opened a 64,737-square-foot flagship store at Trinity Place in San Francisco’s Mid-Market neighborhood. Located at 1185 Market St., the store offers more than 3,700 local products; a selection of 714 wines; 300 craft beers and 150 spirit offerings; a wellness and beauty section featuring more than 50 local products; full-service seafood counter; full-service butcher; and a bakery.

March 11, 2022

California Finance Missouri News

BridgeCore Funds $3.6 Million Loan for 7-Eleven Location in California, Taco Bell in Missouri

by Julia Sanders March 11, 2022

Santa Ana, Calif. and Warsaw, Mo. — BridgeCore has funded a $3.6 million bridge loan to finance the purchase of a to-be-built retail building that 7-Eleven will occupy in Santa Ana. The loan was cross-collateralized with a Taco Bell-occupied property in Warsaw. The name of the borrower was not released. The loan features a 12-month term with six months of yield maintenance, which will allow the seller of the 7-Eleven property to complete its construction of the build-to-suit on behalf of the borrower and meet its delivery obligations to 7-Eleven.

March 11, 2022

California Investment sales News

RealSource Group Arranges Sale-Leaseback of 10 Car Wash Properties in Midwest, Southeast

by Julia Sanders March 10, 2022

Newport Beach, Calif. — RealSource Group arranged the sale-leaseback of 10 single-tenant retail properties net-leased to car wash operators in the Midwest and Southeast during the first quarter of 2022. RealSource brokered the transactions — which totaled more than $51 million — on behalf of two undisclosed owners. “We generated multiple all-cash offers and procured a different buyer for each transaction, guiding the entire escrow process from buyer acquisition to closing,” says Austin Blodgett, senior vice president of investment sales with the Newport Beach, California-based company.

March 10, 2022

California Investment sales News

Marcus & Millichap Brokers $44.7 Million Sale of Shopping Center in Downtown Los Angeles

by Julia Sanders March 10, 2022

Los Angeles — Marcus & Millichap has arranged the $44.7 million sale of Washington Plaza, a grocery-anchored retail property located in downtown Los Angeles. The 136,908-square-foot center was fully occupied at the time of sale by tenants including 99 Cents Only, Rite Aid, DaVita Dialysis, Ace Cash Express, Dunkin’, Baskin Robbins, WaBa Grill, El Pollo Loco, T-Mobile, Panda Express and Boost Mobile. Orbell Ovaness and Ara Rostamian of the Ovaness-Rostamian Group of Marcus & Millichap represented the seller, Eagles Nest Property LLC, and procured the buyer, Reliable Properties, in the …

March 10, 2022

California Leasing News

New Tenants to Open at The Collection at RiverPark in Oxnard, California

by Julia Sanders March 8, 2022

Oxnard, Calif. — Several new tenants are set to open at The Collection at RiverPark, a 650,000-square-foot open-air retail development by CenterCal Properties and Shea Properties in Oxnard. New tenants include Two Hands Corn Dogs, which will open within the property’s 16,000-square-foot food hall; The Mighty Axe, an axe throwing entertainment concept; Devil & Angel Desserts; and medical clinic Exer Urgent Care. The Collection at RiverPark is anchored by Target, Century RiverPark 16 and XD, Levity Live Comedy Club, 24-Hour Fitness SuperSport, REI, Whole Foods Market, H&M, Ulta Beauty and …

March 8, 2022

California Faris Lee Investments Investment sales News

Faris Lee Investments Brokers $14.1 Million Sale of La Paz Shopping Center in Laguna Niguel, California

by Julia Sanders March 7, 2022

Laguna Niguel, Calif. — Faris Lee Investments has negotiated the sale of La Paz Shopping Center in the Orange County city of Laguna Niguel. Carson Cos. sold the property to an Orange County-based private investor for $14.1 million. Scott DeYoung, Jeff Conover and Chris DePierro of Faris Lee Investments represented the seller and the buyer in the deal. Located at 460 S. Lake Ave., the property features 35,302 square feet of retail space. Current tenants include Walgreens and Wild Fork Foods, a meat and seafood market. The multi-tenant property also …

March 7, 2022

California Finance News

Gantry Arranges $38 Million Loan for Rodeo Drive Retail Property in Beverly Hills

by Julia Sanders March 4, 2022

Beverly Hills, Calif. — Gantry has secured $38 million in financing for the fee-simple interest in a retail property located at the corner of Rodeo Drive and Brighton Way in Beverly Hills. The parcel is subject to a long-term ground lease and features improvements including an 18,380-square-foot high-street retail structure. Tenants at the property include Guess, Goyard, Bulgari, Wolford, Chrisofle and Bonpoint. Andy Bratt and Amit Tyagi of Gantry arranged the loan on behalf of the borrower, a private generational real estate family.

March 4, 2022

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