California

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.

Vista, Calif. — Black Lion Investment Group has completed the sale of Vista Terrace Marketplace, a retail strip center in the San Diego County community of Vista. A real estate fund advised by Crow Holdings Capital acquired the property for $13.3 million. The 28,440-square-foot center was 91 percent occupied at the time of sale by tenants including Anytime Fitness, Discovery Preschool, Sports Clips, Jersey Mike’s Subs, Pacific Dental, Upper Crust Pizza and Bombay Café. Daniel Tyner and Gleb Lvovich of JLL Retail Capital Markets represented the seller in the deal.

Santa Rosa, Calif. — Hanley Investment Group Real Estate Advisors has brokered the $8 million sale of a newly constructed, single-tenant property located at 136 College Ave. in Santa Rosa. Jeremy McChesney of Hanley represented the seller, California Capital Group, while Chris Fenolio of Weller Partners represented the buyer, an El Dorado Hills, California-based private investor, in the transaction. A 7-Eleven with a gas station occupies the 2,988-square-foot property on a net-lease basis.

La Palma, Redondo Beach, El Cajon, Rosamond and Modesto, Calif. — Hanley Investment Group Real Estate Advisors has arranged the sale of five single-tenant retail properties net leased to Starbucks Coffee in La Palma, Redondo Beach, El Cajon, Rosamond and Modesto. The properties were sold in five separate transactions for a combined value of $21.1 million. Bill Asher, Jeremy McChesney and Jeff Lefko of Hanley Investment Group represented the sellers of the La Palma and Redondo Beach properties. Asher and Lefko represented the sellers of the El Cajon, Rosamond and …

El Cajon, Calif. — Brixton Capital has completed the disposition of Fletcher Marketplace, a retail strip center situated on 1.9 acres at 110 Fletcher Parkway in El Cajon. A private investor acquired the asset for $11.4 million. Built in 2020, the two-building, 11,996-square-foot Fletcher Marketplace is triple-net leased to five tenants, including Mattress Firm, Dave’s Hot Chicken, The Joint Chiropractic, Urbane Café and California Fish Grill. Gleb Lvovich and Daniel Tyner of JLL Retail Capital represented the seller in the deal. Don Moser of Retail Insite provided local market support.