Palmdale, Calif. — Stan Johnson Co. has arranged the $5.5 million sale of a retail property located at 40014 10th St. West in Palmdale, roughly 58 miles north of Los Angeles. A New York City-based private investor sold the asset to the tenant, Planet Fitness. Prior to acquiring the real estate, Planet Fitness occupied the 18,000-square-foot property on a triple-net lease that features rental increases and option periods. Ronnie Givargis of Stan Johnson Co. represented the seller in the deal.
Bakersfield, Calif. — Hanley Investment Group Real Estate Services has arranged the $10.1 million sale of Colonial Square, a 41,238-square-foot retail strip center located north of Los Angeles in Bakersfield. Bill Asher and Jeff Lefko of Hanley represented the seller, LS Capital Inc. Independent realtor and broker Paul Stansen represented the buyer, a Los Angeles-based private investor, in the 1031 exchange transaction. The property was developed in 1985 and was 97 percent occupied at the time of sale.
La Quinta, Calif. — SRS Real Estate Partners has brokered the sale of a 154,383-square-foot portion of One Eleven La Quinta Center, a community retail center located at 78959 CA-11 in La Quinta. A Coachella Valley-based private family office sold the asset to Milan Capital Management for $35 million. Chris Tramontano and John Redfield of SRS’ Investment Properties Group represented the seller, while the buyer was self-represented in the deal. Terrison Quinn and Casey Mahony of SRS Real Estate Partners are leasing agents for the property. Tenants at the time …
San Leandro, Calif. — An affiliate of Madison Marquette has completed the sale of Bayfair Center, a 42-acre regional mall located adjacent to a BART subway station in San Leandro. B3 and GAW Capital Partners acquired the property for an undisclosed price. Located at 15555 E. 14th St., Bayfair Center was 91 percent leased at the time of sale to tenants including Target, Century Theaters, Macy’s, Kohl’s, Bed Bath & Beyond, Ulta Beauty, Old Navy, 24 Hour Fitness and PetSmart. The property includes one primary mall building and five outparcel buildings …
PERRIS, CALIF. — An Orange County, Calif.-based private partnership has completed the disposition of a restaurant property located at 2560 N. Perris Blvd. in Perris. A Riverside County, Calif.-based local family office acquired the asset for $3.7 million, or $1,706.82 per square foot. KFC occupies the single-tenant 2,200-square-foot building, which features a drive-thru, on a net-lease basis. The property was built in 2022. Bill Asher and Jeff Lefko of Hanley Investment Group, along with Greg Bedell of Progressive Real Estate Partners, represented the seller, while Howard Rosenthal and Guy Excell …
Woodland Hills, Calif. — Bolour Associates has acquired Warner Center, a 10,400-square-foot retail property located at 5780 Canoga Ave. in Woodland Hills. The center is located near LNR Warner Center, an 800,000-square-foot office development. Michael Pakravan and Kyle Pari of Matthews Real Estate Investment Services represented both the buyer and the seller, Flamingo Investments, in the transaction. The new ownership plans to modernize and reposition the center, with planned renovations including facade and exterior upgrades, new landscaping and signage and expanded patio spaces.
Bakersfield, Calif. — ZDI Inc. has acquired a retail center, located at 2625-2635 Mall View Road in Bakersfield, for $8.1 million through a 1031 exchange. The seller was a local partnership of real estate professionals, which has owned the property for more than 15 years after purchasing it from the original developer. Built in 2005, the 29,387-square-foot retail property is fully occupied by a variety of tenants, including a major office supply retailer. Cushman & Wakefield’s Duane Keathley and Vincent Roche represented the seller in transaction.
Escondido, Calif. — BridgeCore has provided a $2 million bridge loan for the refinancing of a retail property located at 607 W. 9th Ave. in Escondido. The undisclosed borrower required a bridge loan to refinance a matured loan and to obtain cash-out funds to resolve a mechanic’s lien, pay-off delinquent property taxes and cover upgrades and renovations to two of the in-line units. Family Dollar occupies the retail property. BridgeCore funded the loan with a 6.5 percent pay-rate during the entire loan term, with the remaining interest accruing to loan pay-off …
Pasadena, Calif. — JRW Realty, a Pasadena-based commercial real estate brokerage firm, has arranged the sale of six single-tenant retail stores in Louisiana net-leased to Walmart Neighborhood Market. Jennifer Rodriguez Ventura of JRW Realty represented the buyer, an unnamed institutional investor that purchased the portfolio for $84 million. Alex Sharrin of JLL represented the undisclosed seller. The six stores are located in the southern or coastal Louisiana towns of Meraux, Houma, Prairieville, New Iberia, Opelousas and Thibodaux. All purchases have single-tenant net leases in place, with individual prices ranging from …
Fresno, Calif. — Faris Lee Investments has arranged the sale of Country Squire Shopping Center, a three-building retail property in Fresno. A Riverside, California-based private investor acquired the center from a Fresno-based investor for $6.6 million. Both parties requested anonymity. Walgreens, Surf Thru Express Car Wash and Multi-Tenant Shops fully occupy the 27,315-square-foot property. Situated on a total of 4.3 acres, the center is located at 4172, 4140, 4182 N. First St. Sean Cox, Alex Moore and Shaun Riley of Faris Lee Investments represented both parties in the deal.
