California

Tulare, Calif. — Faris Lee Investments has brokered the $6 million sale of Tulare Pavilion Shopping Center in Tulare. Tenants at the property include Dollar Tree, Harbor Freight Tools and Big Lots. The center is situated near Tulare Outlet Center, which draws over 4 million visitors each year, according to Faris Lee. 

Fontana, Calif. — A joint venture between MCB Real Estate and a fund managed by DRA Advisors has purchased Falcon Ridge Town Center, a retail center located in Fontana, for $65 million. Built in 2005 and renovated in 2023, the property totals 273,424 square feet. Tenants at the center, which was fully leased at the time of sale, include Ulta Beauty, Famous Footwear, Five Below, Michaels, Dollar Tree and Ross Dress for Less.

San Jose, Calif. — Atlantic Capital Partners has brokered the $95 million sale of The Plant, a retail center located in San Jose. Tenants at the property, which totals 367,000 square feet, include Target, Home Depot, Best Buy, PetSmart, Ross Dress for Less and Ulta Beauty. Justin Smith, Chris Peterson, Sam Koonce and Denielle Donovan of Atlantic represented the seller in the transaction and secured the buyer, Milan Capital Management. Stephen Joseph of Atlantic arranged acquisition financing on behalf of the buyer. The center was 65 percent occupied at the time …

Manteca, Calif. — Grupe Huber has acquired The Promenade Shops at Orchard Valley, a 400,000-square-foot retail center located in Manteca. Bass Pro Shop, AMC Theatres, JC Penney and Valley Fitness anchor the property, which is situated on 54 acres. Sutter Health recently signed a 17,500-square-foot lease at the center and is currently underway on construction of its space, which is scheduled to open in early 2025. The buyer plans to implement a “revitalization” process at the property, which was originally built in 2008. JLL manages and leases the center.