California

Murrieta, Calif. — Hanley Investment Group Real Estate Advisors has negotiated the sale of a single-tenant retail property located in Murrieta. A San Diego-based private partnership sold the building to Los Angeles-based Anza Drive Properties for $8.5 million. Smart & Final Extra occupies the 20,750-square-foot property, which is situated at the intersection of Madison Avenue and Los Alamos Road, on a net-lease basis. The building was built in 2003. Bill Asher and Jeff Lefko of Hanley Investment Group represented the seller, while Kris Hons of Glendale, California-based Stevenson Real Estate …

Los Angeles — Weiss Development has completed the disposition of Brentwood Shopping Center, a retail property located at 11674-11690 San Vicente Blvd. in Los Angeles. Fields Holdings acquired the asset for $30 million in an off-market transaction. Tenants at the 14,789-square-foot center include Chipotle, Juice Crafters, Planet Beauty, Juan Juan Salon, Coffee Bean & Tea Leaf, Harry’s Wine and Spirits, Winston Pies and Claudio D’Italio. Bill Bauman and Kyle Miller represented the seller in the deal.

Hemet, Calif. — Progressive Real Estate Partners has negotiated the sale of a 3.3-acre commercial land parcel in Hemet. Sater Hemer LLC acquired the property from an undisclosed seller for $1.7 million. The buyer plans to develop a gas station, car wash and drive-thru restaurant on the site, which is located at the northeast corner of Florida and Soboba avenues. Neither a timeline nor specific development plans have been released. Chris Lindholm of Progressive Real Estate Partners represented both parties in the transaction.

Jurupa Valley, Calif. — Progressive Real Estate Partners has arranged the sale of a Shell gas station and Circle K convenience store and car wash in Jurupa Valley. A Riverside County-based private investor sold the asset to another Riverside County-based private investor for $9.3 million. Built in 1999 at 3873 Pyrite St., the property was fully remodeled in 2013. The asset features 28 fueling positions, an express car wash, a 4,000-square-foot Circle K convenience store and a 2,580-square-foot drive-thru restaurant building occupied by Alberto’s Mexican Food and Sub Hub Sandwiches. …

Orange County, Calif. — Hanley Investment Group Real Estate Advisors has arranged the $8.2 million sale of a multi-tenant retail pad located at Foothill Ranch Towne Centre in Orange County. The 6,873-square-foot building was fully leased at the time of sale to Chipotle Mexican Grill, Firehouse Subs and Guidepost Montessori. Bill Asher and Jeff Lefko of Hanley Investment Group represented the seller, Thomas English Real Estate, in the transaction. Jack Nersesian of DAUM Commercial Real Estate Services represented the buyer, a private investor from Glendale, California.

Long Beach, Calif. — DJM, in partnership with PGIM Real Estate, has purchased Long Beach Exchange, an open-air lifestyle center located in Long Beach. The property was sold by Burnham-Ward Properties for an undisclosed price. Eastdil brokered the transaction. Built in 2018, the 26-acre Long Beach Exchange features 246,500 square feet of retail space. Current tenants include Whole Foods Market, Handel’s, Orange Theory, Ra Yoga, Silverlake Ramen, Ulta Beauty and Nordstrom Rack.

Fallbrook, Calif. — Gerrity Group has completed the disposition of Fallbrook Mercantile Center, a 70,411-square-foot retail center in Fallbrook. A private investor acquired the asset for $27.2 million. Major Market anchors the property, which is situated on 6.5 acres at 713, 825, 833 and 835-855 S. Main Ave. At the time of sale, the property was 97 percent occupied by tenants including Anytime Fitness, Denny’s, Sherwin-Williams, H&R Block, Jersey Mike’s Subs, Burger King, United Studios of Self Defense, Bella Dental Group and Pho House and Grill. Gleb Lvovich, Bryan Ley …

Citrus Heights, Calif. — Citivest Commercial Investments has completed the disposition of four parcels located within SummerHills Plaza, a 135,000-square-foot, grocery-anchored shopping center in the Sacramento area community of Citrus Heights. Ethan Conrad Properties acquired the parcels for $16.8 million. Originally constructed in 1967 and refurbished in 2020, the property is occupied by Raley’s, Dollar Tree, Round Table Pizza and Dutch Bros. Coffee. Bill Rose of Institutional Property Advisors, a division of Marcus & Millichap, and Edward Nelson and Wyatt Figeroa of Marcus & Millichap represented the seller and procured …

South Lake Tahoe, Calif. — Imperium Blue has acquired two retail centers in South Lake Tahoe for $33 million. Ready Capital sold the assets, which total 50,000 square feet of retail space. Tony Wood of KW Commercial Real Estate Services represented the seller, while Scott Campbell of SRS National Let Lease Group represented the buyer in the deal. The properties, named Chateau and Zalanta, are part of a larger 20-acre development project that includes 400 residential condominiums and 100,000 square feet of additional retail space.