Westminster, Calif. — Marcus & Millichap has brokered the sale of Westminster Golden Center, a shopping center located at the southwest corner of Westminster Boulevard and Swan Avenue in Westminster. A private investor acquired the property from another private investor for $7 million. Situated on 1.5 acres in the Little Saigon submarket, the shopping center consists of three buildings offering a total of 16,480 square feet of space spread across 11 retail suites. Michael Matter and Aveesh Singroha of Marcus & Millichap’s South Bay office represented the seller and buyer …
Los Angeles — Midwood Investment & Development plans to build The Shops at Sportmen’s Lodge at the intersection of Coldwater Canyon Avenue and Ventura Boulevard in the Studio City neighborhood of Los Angeles. Designed by Gensler, the new ground-up development will feature 94,000 square feet of retail space and communal outdoor space designed OLIN Studio, as well as more than 450 parking spaces. Groundbreaking will commence in August, with an estimated opening slated for fall 2020. Midwood is co-developing the project with Richard Weintraub, who originally introduced this retail concept …
Manhattan Beach, Calif. — Two new restaurants are joining the tenant roster at Manhattan Village, a 573,000-square-foot indoor/outdoor mixed-use dining and retail property located in Manhattan Beach. The restaurants are: • dan by ROC (Republic of China), a new concept from ROC that offers home-cooked Chinese food, specializing in dumplings and noodles. Situated within the Village Shops, the 3,500-square-foot location is scheduled to open in fall 2020. • edo Little Bites, which is the newest creation of Chef Edoardo Baldi, creator of e.baldi. Located in Village Shops, the 642-square-foot eatery …
Fairfield, Calif. — Capital Rivers Commercial has arranged the sale of Oakmont Plaza, a 105,000-square-foot shopping center in the San Francisco Bay Area community of Fairfield. San Diego-based The Niki Group acquired the property from a Fairfield-based private investor for $11.2 million. FoodMaxx anchors the retail center, which includes a freestanding Chase Bank and O’Reilly Auto Parts in addition to 35,000 square feet of in-line space. Additional tenants include Mountain Mikes Pizza and Check to Cash. Greg Aguirre and Frank Kozlowski of Capital Rivers Commercial represented the seller, while Brandon …
Cerritos, Calif. — Avison Young has arranged the sale of a retail property located at 11355 South St. in the Los Angeles suburb of Cerritos. A private investor from Southern California sold the property for $6.5 million. Built in 1974, the 5,225-square-foot property features 1,200 square feet of mezzanine space. Comerica Bank occupies the building on an absolute triple-net lease. Brian Hennessey and Armand Aghadjanians of Avison Young represented the seller, while Brian Russell of Kinnery’s Brokerage and The Primemark Group represented the buyer, a Southern California-based private investor, in …
Corona, Calif. — Progressive Real Estate Partners has arranged the $11 million sale of Corona Freeway Center in Corona, California. The 67,690-square-foot retail center was built in 1991 and was recently renovated, including a new roof, new HVAC, updated landscaping, painting and major renovations to the parking lot; the addition of a 60-foot high digital freeway pylon sign; and a 400-square-foot digital screen. Tenants include Express Scripts, Jenson USA Bicycles and LA Carpet & Flooring. Frank Vora of Progressive Real Estate Partners represented the seller, an Orange County, California-based private …
Pasadena, Calif. — The Arroyo Parkway LLC, a Pasadena-based investment group, has purchased a retail building and two acres of adjoining land in Pasadena from a private family trust for more than $100 million in an off-market transaction. Whole Foods Market has occupied the 80,000-square-foot retail building since it was built in 2007. The property is located at 465-577 Arroyo Parkway. David Ickovics of Commercial Asset Group represented the seller, while the buyer was self-represented in the transaction.
Apple Valley, Calif. — Progressive Real Estate Partners has arranged the sale of a multi-tenant retail building at Rancherias Plaza, located at 20162 Highway 18 in Apple Valley, California. A private Los Angeles-based investor sold the property to a private San Diego-based investor for $2.6 million. Built in 1991, the asset features 15,105 square feet of retail space. At the time of sale, the shopping center was 92 percent occupied. CVS/pharmacy and 99 Cents Only Stores anchor the property. Greg Bedell and Chris Lindholm of Progressive Real Estate Partners represented …
“Menifee is the fastest growing city in Southwest Riverside County and seventh fastest growing city in Southern California,” says Gina Gonzalez, economic development director with the City of Menifee, California. “The city’s population is projected to grow by 8 percent by 2021, reaching more than 106,000 residents.” She notes, “With an average age of 37, an average income of $80,000, and a sales leakage of more than $800 million in every business cluster, Menifee has the recipe for business expansion success.” Gonzalez has growth on her mind. That extends to …
Indio, Calif. —Faris Lee Investments has arranged the sale of two retail strip centers — Rubidoux Plaza and South Rubidoux — in Indio. The properties sold for a combined total of $4.6 million. Totaling nearly 20,000 square feet, the retail centers are located along California Highway 111 and serve the entire Coachella Valley area. Tom Chichester of Faris Lee Investments represented the seller in the transactions. The names of the seller and buyers were not released.