California

Hanley Investment Negotiates $3.8 Million Sale of Four-Tenant Retail Building in Inland Empire

by Alex Tostado August 14, 2020

Lake Elsinore, Calif. — Hanley Investment Group Real Estate Advisors has arranged the sale of a multi-tenant retail building within Lake Elsinore Marketplace, a shopping center in Lake Elsinore. Irvine-based Pacific Castle sold the asset to a Torrance-based private investor for $3.8 million. Built in 2006 at 29261 Central Ave., the 7,203-square-foot pad building is fully occupied. Tenants include Navy Federal Credit Union, iBrows Threading Salon, Submarina and Juice It Up!. Anchors at the larger, 144,034-square-foot Lake Elsinore Marketplace include Costco, Lowe’s Home Improvement Warehouse, Grocery Outlet, PetSmart and Dollar …

August 14, 2020

California Development News Retailers

Gaw Capital USA, DJM Unveil Plans for Ovation Hollywood Mixed-Use Project in Los Angeles

by Alex Tostado August 10, 2020

Los Angeles — Gaw Capital USA, a Hong Kong- and Los Angeles-based real estate private equity firm, and DJM, a San Jose, California- and Los Angeles-based private equity real estate developer, have released plans for transforming the shopping center at Hollywood & Highland into Ovation Hollywood. Upon completion in late 2021, Ovation Hollywood will be a mixed-use project offering 135,000 square feet of retail space, two floors of nearly 100,000 square feet of creative office space, 85,000 square feet of restaurant space, 65,000 square feet of entertainment space and 40,000 …

August 10, 2020

California Company news New York News Retailers

Parent Companies of Lord & Taylor, Men’s Wearhouse Both File for Chapter 11 Bankruptcy

by Alex Tostado August 3, 2020

New York City and Freemont, Calif. — The list of apparel retailers to file for Chapter 11 bankruptcy grew longer over the weekend as the parent companies of Lord & Taylor and Men’s Wearhouse both filed petitions for Chapter 11 bankruptcy protection in an effort to restructure their debt loads. Le Tote Inc., a New York City-based e-commerce firm specializing in the clothing sector that owns Lord & Taylor, filed its petition in the U.S. Bankruptcy Court for the Eastern District of Virginia. Tailored Brands, the Fremont-based parent company of …

August 3, 2020

California Investment sales News Retailers

Hanley Investment Group Brokers Sale of Two Inland Empire Retail Buildings for $5.2 Million

by Alex Tostado July 31, 2020

Corona, Calif. — Hanley Investment Group has brokered the sale of two multi-tenant retail buildings located at 1240-1282 Border Ave. in Corona. A Denver-based private investment group sold the assets to a local private investor for $5.2 million. The Shops at Village Grove Plaza features a freestanding, 9,200-square-foot retail pad building occupied by six tenants and a two-tenant, 2,400-square-foot shop building adjacent to Stater Bros. Markets. Tenants at the properties offer a variety of services and products, including dental care, dry cleaning, laundry services, flowers, donuts, liquor, hair styling and …

July 31, 2020

California Company news News

New Retail Owner’s Representative Firm Fathom Launches in Los Angeles

by Alex Tostado July 27, 2020

Los Angeles — Fathom Development Services, a new owner’s representative firm focusing on retail, fitness, wellness and hospitality properties, has launched in Los Angeles. Fathom offers leasing, tenant coordination, permits and approvals, budgeting, construction-management and design management services to its customers. “Especially in today’s swiftly changing environment, there is a need among retailers for a nimble and efficient owners representative that can help create environments that fully express who they are,” says senior vice president of development services Anthony DiMaggio. “We know all aspects of real estate development, but we’re …

July 27, 2020

California Company news News Retailers

Parent Company of Men’s Wearhouse, Jos. A. Bank to Shutter Up to 500 Stores, Cut Staff by 20 Percent

by Alex Tostado July 21, 2020

Fremont, Calif. — Tailored Brands, the parent company of professional menswear retailers Men’s Wearhouse and Jos. A. Bank, has announced a corporate restructuring that entails closing up to 500 stores. The Fremont-based firm says the “unprecedented and industry-wide” disruption caused by the COVID-19 outbreak was the catalyst behind the move. Tailored Brands has identified the 500 stores but did not disclose the retailers, locations or timing of those closures. Other brands in Tailored’s umbrella include K&G and Moores Clothing for Men. The company had 1,445 U.S. stores as of May …

July 21, 2020

California Development News Retailers

Restoration Hardware Opens RH Marin, The Gallery at the Village in Corte Madera, California

by Alex Tostado July 10, 2020

Corte Madera, Calif. — RH has opened RH Marin, The Gallery at the Village, the brand’s newest physical location and the first design gallery in California. The property is located at 1750 Redwood Highway in Corte Madera. Totaling nearly 60,000 square feet of indoor and outdoor space, the three-level property features artistic installations of luxury home furnishings in a gallery setting, including spaces devoted to RH Interiors, RH Modern, RH Rugs and Outdoor. Additionally, RH Marin features an interactive RH Interior Design Firm & Atelier that provides professional design services. …

July 10, 2020

California Investment sales News Retailers

RBL Real Estate Sells Del Norte Marketplace in Bay Area for $22.5 Million

by Alex Tostado July 9, 2020

El Cerrito, Calif. — RBL Real Estate has completed the disposition of Del Norte Marketplace, a pharmacy-anchored shopping center located in El Cerrito. Miami-based Jewell Capital acquired the asset, including its existing debt, for $22.5 million. Located at 11511-11565 San Pablo Ave., the 64,270-square-foot retail center recently underwent a multi-year repositioning. Current tenants include Walgreens, Ross Dress for Less, dd’s Discounts and IHOP. Eric Kathrein, Tim Kuruzar, Bryan Ley and Jake Dempsey of JLL Capital Markets represented the seller in the deal.

July 9, 2020

California Investment sales News

Progressive Real Estate Brokers $5.7 Million Sale of All Star Car Wash Location in Corona, California

by Alex Tostado July 8, 2020

Corona, Calif. — Progressive Real Estate Partners has arranged the sale of All Star Car Wash and Castrol Oil and Lube Center, located at 465 McKinley St. in Corona. A Japan-based private investor sold the asset, which includes the business and real estate, to an Orange County, Calif.-based private investor for $5.7 million. Built in 1992, All Star Car Wash features a full-service handwash with 100-foot tunnel, a three-bay Castrol Oil and Lube Express, a smog center, an outdoor patio and lobby. The buyer plans to upgrade the property with …

July 8, 2020

California Company news Development News Retailers

Lowe Launches Retail reVision, Focuses on Transforming Properties into Retail Hubs

by Alex Tostado June 29, 2020

Los Angeles — Lowe has launched Retail reVision, its platform to reposition retail real estate. Under the initiative, the Los Angeles-based developer will target underperforming retail properties and partner with new and existing owners to manage or advise redevelopments. Lowe seeks properties that are regional draws, such as malls, community, lifestyle and power centers that are located in urban and suburban infill markets where Lowe currently operates. Target markets are California, the Pacific Northwest and Mid-Atlantic regions, the greater Denver and Phoenix metropolitan areas and the Carolinas. Lowe has named Joel …

June 29, 2020

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