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.
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 …
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 …
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 …
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.
Rancho Cucamonga, Calif. — Progressive Real Estate Partners and Newmark have brokered the sale of a 9,195-square-foot single-tenant retail property triple-net-leased to Bank of America in Rancho Cucamonga. Brad Umansky of Progressive Real Estate Partners and Glenn Rudy of Newmark co-listed the property and represented the seller, WM Capital. Bill Allen of Marcus & Millichap represented the buyer, a private Northern California-based investor, who purchased the property for $6.2 million in an all cash 1031 exchange transaction. The property features a drive-thru and is situated within Country Village, a Stater …
Los Gatos, Calif. — The Levin Johnston commercial real estate advisory group of Marcus & Millichap and Taycon Real Estate have arranged the $36 million sale of El Gato Village Shopping Center, a retail property situated on 3.4 acres in Los Gatos, about 10 miles from San Jose. Adam Levin of Marcus & Millichap and Marko Buljan of Taycon Real Estate represented the seller, an undisclosed family trust, and procured the buyer, a privately held real estate investment and development company, in the deal. Located at 15710 Los Gatos Blvd., …
Huntington Beach, Calif. — JLL Capital Markets has arranged the sale of Goldenwest & Bolsa, a retail center located at 15031 Goldenwest St. in Huntington Beach, about 36 miles from Los Angeles. A private equity fund sold the property to a local private investor for $23.5 million. Constructed in 1974 on six acres, Goldenwest & Bolsa features 63,269 square feet of retail space. At the time of sale, the property was 95.4 percent leased. Gleb Lvovich, Geoff Tranchina and Daniel Tyner of JLL Retail Capital Markets represented the seller in …
Sacramento, Calif. — Raith Capital Partners has sold Arden Square, a 100,162-square-foot neighborhood retail center located at 3102-3198 Arden Way in Sacramento, to Rhino Investments Group. Eric Kathrein, Tim Kuruzar and Warren McClean of JLL represented the seller in the transaction. BevMo!, Jo-Ann and Office Max anchor Arden Square, which was 90 percent leased at the time of sale to tenants including Kaiser Permanente, GameStop, Sacramento Credit Union, Jackson Hewitt Tax Services, Great Clips and Eco-Friendly Nail Salon.
El Cajon, Calif. — Pacific Coast Commercial has arranged the sale of a multi-tenant retail center located at 701-777 Broadway in El Cajon, about 17 miles from San Diego. Broadway Center Associates sold the property to an entity known as Alcatraz475 LP/Birch8330 LP for $8.2 million. At the time of sale, the 25,460-square-foot property was 95 percent leased to a mix of local and regional retail tenants. Brian Crepeau and Vanessa Reza of Pacific Coast Commercial represented the seller, while Bing Udinsky of The Udinsky Group represented the buyer in …