Camarillo, Calif. — Colliers International has arranged the $61.5 million sale of Camarillo Village Square, a grocery-anchored retail center in Camarillo. The sale is the largest retail transaction in Southern California this year, according to the broker. El Warner of Colliers International represented the seller, Donahue Schriber, in the off-market disposition. The buyer was not disclosed. Camarillo Village Square is home to tenants including Sprouts, RiteAid, Big5 and PetSmart.
Rialto, Calif. — Marcus & Millichap has brokered the $2.2 million sale of a restaurant property occupied by Rally’s in the Los Angeles suburb of Rialto. A limited liability company sold the asset to an undisclosed buyer for $2.2 million. The 1,086-square-foot property was built in 2020 and is occupied under a 15-year absolute triple-net lease. The building features double drive-thru lanes. Zack House, Mark Ruble and Chris Lind of Marcus & Millichap’s Phoenix office represented the seller, while Matthew Luchs of Marcus & Millichap’s Ontario, California, office served as …
Rocklin, Calif. — Capital Rivers Commercial has arranged the sale of a retail showroom located at 4467 Granite Drive in Rocklin, roughly 22 miles outside Sacramento. The 15,600-square-foot building, which features a second-floor mezzanine level, sold for $4.1 million. Ryan Orn and Joe Blanton of Capital Rivers Commercial handled the transaction. The names of the seller and buyer were not released.
Beaumont, Calif. — SRS Real Estate Partners has negotiated two leases at San Gorgonio Village, a 122,000-square-foot shopping center located at the southeast corner of 2nd Street and Commerce Way in Beaumont. Planet Fitness opened a 17,500-square-foot location at the center in April. Garrett Colburn and Townsand Cropsey of SRS negotiated a 10-year lease on behalf of the tenant. Sherwin Williams is set to open a 4,000-square-foot, freestanding store at the property in mid-2021. Chris Kehl and Zach Leffers of SRS negotiated a 10-year lease on behalf of the tenant. …
Riverside, Calif. — Merlone Geier Partners has purchased Magnolia Tyler Center, a value-add shopping center located at 3650-3790 Tyler St. in the Inland Empire community of Riverside. A private family, which owned the property for more than 50 years, sold the center for $39.4 million. At the time of sale, the 182,653-square-foot property was 83 percent leased. Tenants include Aldi, Bob’s Discount Furniture, Big Lots, Bed Bath & Beyond, Starbucks Coffee, Olive Garden and America’s Tire. Gleb Lvovich and Daniel Tyner of JLL Retail Capital Markets represented the seller in …
Fountain Valley, Calif. — Faris Lee Investments has brokered the sale of a five-acre mixed-use redevelopment site known as Brookhurst & Warner in the Orange County community of Fountain Valley. An undisclosed buyer acquired the site for $17.5 million. Rick Chichester, Tom Chichester and Nick D’Argenzio of Faris Lee Investments represented the undisclosed seller in the deal.
Los Angeles — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged the sale-leaseback of a 28-property portfolio of net-leased Fred Meyer stores in the West. While the price was not disclosed, Marcus & Millichap’s research department claims that the sale is the largest retail transaction since the beginning of the COVID-19 pandemic. The Fred Meyer portfolio is located in Shoreline, Bellingham, Everett, Lynnwood, Longview, Vancouver, Puyallup, Richland and Tacoma, Washington; Eugene, Salem, Albany, Beaverton, Corvallis, Portland, Medford, Oregon City, Roseburg, Springfield, The Dalles and Tualatin, Oregon; …
Los Angeles — CGI+ Real Estate Investment Strategies, in partnership with Megdal Investments, has acquired the third and final piece of a 1.7-acre land assembly at the southwest corner of Franklin and Western Avenues in Los Angeles’ Los Feliz neighborhood. The single-tenant, 24,000-square-foot property, which Rite Aid formerly occupied, will be redeveloped into 31,000-square-foot Lazy Acres Market, a division of Good Food Holdings. The organic grocery store signed a long-term lease with CGI+. The new store is scheduled to open by year’s end. CGI+ has started renovations and redevelopment, which …
Hesperia, Calif. — CBRE has arranged the sale of Eagle Plaza, a shopping center located at 15776 Main St. in Hesperia. A Texas-based private buyer acquired the center for $5.4 million. Alan Krueger and Vanessa Haddad of CBRE represented the seller, a private local investor, in the deal. Totaling 39,877 square feet, Eagle Plaza is occupied by five tenants, including a donut shop, laundromat and sandwich store that have occupied the property since it opened in 1989. The other two tenants are government-funded school district operations.
Signal Hill, Calif. — Faris Lee Investments has completed the break-up strategy of Signal Hill Gateway, a retail property in Long Beach, to four different buyers for a total of $28.3 million. Prior to listing, the urban infill property was divided into four product categories, including big box parcels, quick-service restaurant and daily needs strip, a sit-down restaurant and a drive-thru fast-food restaurant. Scott DeYoung and Jeff Conover of Faris Lee Investments represented the seller in the deal, Signal Hill Petroleum. The company will retain ownership of a one-acre parcel …
