Apple Valley, Calif. — Progressive Real Estate Partners has arranged the sale of a freestanding ARCO Gas Station and AM/PM convenience store located at 15333 Rancherias Road in Apple Valley. The property traded for $5.6 million. The names of the seller and buyer were not released. Built in 1998, the ARCO station has six dispensers with 16 fueling positions and a 2,737-square-foot convenience store. Victor Buendia of Progressive Real Estate Partners represented the buyer and seller in the deal.
Bakersfield, Calif. — Faris Lee Investments has arranged the sale of a freestanding retail property located at 2690 Mount Vernon in Bakersfield. Intertex Property Advisors acquired the building from a Los Angeles-based developer for $5.4 million. The property is absolute triple-net leased to CVS Y Mas, which has occupied the location for 48 years. Sean Cox and Jeff Conover of Faris Lee Investments represented the seller, while Cushman & Wakefield represented the buyer in the transaction.
San Juan Capistrano, Calif. — Voyager, in partnership with Kemper Development Co., has received a 2021 Gold Maxi award from ICSC for The Bellevue Collection’s “Do Good with Delivery” campaign. The Voyager Group designs brand narratives and creative campaigns for mixed-use, office, retail, hotel and dining developers and leasing teams, such as Alberta Development Partners, Daniels Development Co., DMB Associates, The Irvine Co. and The Mills Corp. Voyager Group clients and projects include 150 Worth Avenue, 1221 Ocean Avenue, The Aesthetic Society, Churchill Management Group, Coca-Cola, Fashion Island, FedEx, Gridiron …
Sacramento, Calif. — Matthews Real Estate Investment Services has arranged the sale of a retail building located at 4241 Marconi Ave. in Sacramento. A private individual sold the property to an undisclosed buyer for $10.1 million. Rite Aid occupies the property. Courtney Haubach, Bill Pedersen and Chad Kurz of Matthews represented the seller and sourced the buyer for the transaction.
Jamul, Calif. — Commercial Asset Advisors (CAA) has arranged the off-market acquisition of a retail center located in Jamul. Fuel Team Inc. purchased the property from Dan Floit for $6 million. Located 12918-12930 Campo Road, a 7-Eleven gas station anchors the 18,926-square-foot property. Gino Kalasho and Mike Conger of CAA represented the buyer in the transaction.
Long Beach, Calif. — LA Fitness has leased 33,987 square feet of space formerly occupied by Best Buy at Marina Pacifica Shopping Center in Long Beach. The gym location is scheduled to open in early 2022. Other tenants at the 296,954-square-foot center include AMC, Ralphs, Nordstrom Rack, Barnes & Noble, Buffalo Wild Wings, Starbucks Coffee and Ulta Beauty. The landlord, NewMark Merrill Cos., was represented in-house and by Beta Agency, while RealSource Group represented LA Fitness in the deal.
Beaumont, Calif. — Brixton Capital has acquired Marketplace Beaumont, a 187,851-square-foot shopping center in Beaumont. Brixton purchased the property from the FJ Hanshaw Trust for an undisclosed price. Gleb Lvovich & Daniel Tyner of JLL represented the buyer in the transaction, while FJ Hanshaw Trust was self-represented. The shopping center was 92 percent leased at the time of sale to tenants including Aldi, Petco, Ross, Best Buy, Taco Bell, Starbucks Coffee and Bank of America. The property includes five drive-thru pads. The new ownership plans to renovate the property, with …
Fontana, Calif. — Progressive Real Estate Partners has signed a new lease with Crazy Boss Big Discount Store at Vineyard Valley Center, a 285,000-square-foot retail center in Fontana. Located at 17099 Valley Blvd., the discount store will open this fall in a 103,157-square-foot anchor space that was formerly occupied by Kmart. Additional tenants at the center include Food 4 Less, Big Lots and dd’s Discounts. Paul Galmarini of Progressive Real Estate Partners and Justin Altemus of The Altemus Co. represented the landlord in the transaction. Galmarini also represented Crazy Boss.
Atwater, Calif. — Hanley Investment Group Real Estate Advisors has arranged the sale of Atwater Marketplace, a fully-occupied, 96,224-square-foot shopping center anchored by Save Mart Supermarkets and CVS/pharmacy in Atwater. Kevin Fryman and Eric Wohl of Hanley Investment Group represented the seller, Phillips Edison & Co. Inc. The buyer was a private investor based in Los Angeles and was represented by Brett Visintainer of Visintainer Group. Additional tenants at Atwater Marketplace include Ace Cash Express, Baskin Robbins, Chase, Chinese Kitchen, Freeway Insurance, GameStop, Great Clips, Merco Credit Union, Rabobank, RE/MAX, …
Newport Beach, Calif. — Chartwell Real Estate Development has purchased Balboa Fun Zone, a mixed-use entertainment development in Newport Beach. Discovery Cube, a Southern California children’s science museum, sold the property for an undisclosed price. The new owners plan to restore the historic landmark and continue to operate the property as the Balboa Fun Zone, one of Southern California’s oldest amusement park dating to the early 1900s. Located at 600 E. Bay Ave., the 34,500-square-foot property offers 212 feet of waterfront space, the Edgewater Place boardwalk, the Balboa Ferris Wheel, …
