California

Long Beach, Calif. — JLL Capital Markets has arranged the $4.5 million sale of a newly constructed, 1,839-square-foot retail building at 5865 E. Spring St. that is triple net leased to The Coffee Bean & Tea Leaf in Long Beach. Adam Friedlander of JLL marketed the property on behalf of the seller, Pacific West Property Group Inc. An undisclosed private investor acquired the property in an all-cash transaction as part of a 1031 exchange. Alan Wong of DAAG Developments acted as the buyer’s consultant. Situated 20 miles south of downtown …

Porterville, Calif. — SRS Real Estate Partners’ National Net Lease Group has brokered the $2.9 million sale of a single-tenant property fully occupied by Starbucks Coffee located at 421 Vandalia Ave. in Porterville. The property is an outparcel to Riverwalk Marketplace, a shopping center anchored by Lowe’s Home Improvement. Matthew Mousavi and Patrick Luther of SRS represented the seller, a Southern California-based owner and developer. Bryan Cifranic of Commercial Retail Associates Inc. represented the buyer, a California-based investor who was in a 1031 exchange. The closing cap rate was 4.4 …

Anaheim, Calif. — CBRE has brokered the sale of a 26,414-square-foot retail property leased to Grocery Outlet at 3430 W. Lincoln Ave. in Anaheim. Land Investments sold the asset to a Los Angeles-based private investor for $5.8 million. The property is situated two miles south of Knott’s Berry Farm and six miles east of Disneyland. Alan Krueger and Vanessa Haddad of CBRE represented the buyer and seller in the transaction.

Rancho Cordova, Calif. — Hanley Investment Group Real Estate Advisors has arranged the $2.6 million sale of a newly built single-tenant retail property occupied by Starbucks Coffee in the Sacramento suburb of Rancho Cordova. The 2,200-square-foot building is located within the Zinfandel Village shopping center, which is home to tenants including Grocery Outlet, Pizza Hut, Burger King, Popeyes, Lumber Liquidators, Little Caesars, Skechers and Sourdough & Co. Bill Asher and Kevin Fryman of Hanley Investment represented the seller, Pacific Castle Management, in the transaction. Eric Reuveni of Los Angeles Commercial …

San Mateo, Calif. — Nazareth Enterprises has acquired a retail building located at 616 S B St. in San Mateo for $7.3 million. The San Mateo-based company is planning to redevelop the 7,500-square-foot building, which is currently leased by Kelly-Moore Paint, into a mixed-use property. Richard Beale of Beale Properties represented the undisclosed sellers. Mitch Zeemont and Tony Kaufmann of Gantry arranged acquisition financing, which AvidBank provided.