Investment sales

Lakewood, Calif. — Faris Lee Investments has brokered the $38.7 million sale of two retail properties located within Lakewood Center, a 2 million-square-foot shopping center situated roughly 23 miles southeast of Los Angeles. The buildings, which total nearly 155,000 square feet, are occupied by Albertsons and The Home Depot. Both tenants have operated at the center for more than 30 years. Don MacLellan, Jeff Conover, Scott DeYoung and Greg Lukosky of Faris Lee Investments represented the seller, a consortium of multiple owners, and the buyer, a high net-worth family office, in …

Clovis, Calif. — SRS Real Estate Partners has negotiated the $4.7 million ground-lease sale of a newly developed, single-tenant restaurant property located in Clovis, roughly eight miles west of Fresno. Chick-fil-A occupies the 4,847-square-foot building, which is situated near California State University, on a 15-year absolute triple-net lease. Alexander Moore of SRS Real Estate represented the seller, a San Franciso Bay Area-based investor, in the transaction. The buyer was a Central Valley-based private investor.

Ventura, Calif. — A joint venture between Pacific Retail Capital Partners (PRCP) and Conversant Capital LLC has acquired Pacific View Mall, an 884,000-square-foot super-regional shopping center located in Ventura, about 30 miles northwest of Santa Barbara. Originally opened in 1964 and renovated in 2017, Pacific View Mall features a mix of more than 130 national retailers such as Target, Macy’s, JCPenney, Sephora, Ross Dress for Less, Victoria’s Secret, Trader Joe’s and 24 Hour Fitness. The two-story property also comprises an 11-option food-court and dining destination including Wood Ranch, Red Robin and …