California

Lake Elsinore, Calif. —Hanley Investment Group Real Estate Advisors has arranged the $2.9 million sale of a 3,000-square-foot, single-tenant retail property located in the Inland Empire city of Lake Elsinore. Bill Asher and Jeff Lefko of Hanley represented the seller and developer, Evergreen Devco, in the transaction. Greg Bedell and Lance Mordachini of Progressive Real Estate Partners represented the buyer, a private investor based in San Bernardino County, California. Situated as an outpacel within a new Stater Bros.-anchored retail development, the newly constructed retail building is occupied by Pollo Campero …

San Bernardino, Calif. — Hanley Investment Group Real Estate Advisors has negotiated the $3.6 million sale of a single-tenant retail property leased to Starbucks Coffee in San Bernardino. The newly constructed, drive-thru-only café prototype spans 1,200 square feet and operates on a 15-year triple-net corporate lease with 10 percent rental increases every five years. Bill Asher and Jeff Lefko of Hanley represented the seller, a local developer, in the transaction. David Kluver of Lee & Associates represented the buyer, a local investor from Orange County, California.

Pomona, Calif. — Hanley Investment Group Real Estate Advisors has arranged the $4.6 million sale of a newly renovated, single-tenant retail property located in Pomona, roughly 30 miles east of downtown Los Angeles. A Starbucks café occupies the 1,650-square-foot space on a 15-year, triple-net corporate lease with 10 percent rental increases every five years during the primary term. Originally constructed in 1977, the single-tenant building was converted from an independent fast food restaurant to Starbucks’ newest prototype.     Bill Asher and Jeff Lefko of Hanley Investment Group represented the seller, …

Lodi, Calif. — Visintainer Group has brokered the sale of Vintner’s Square, a 183,195-square-foot shopping center located in Lodi, just south of Sacramento and east of San Francisco. The retail center was sold in a two-part transaction for $23.3 million. The front portion of the property — which comprises two parcels occupied by Panera Bread and F&M Bank — sold for $8.3 million. The remaining portion of the center — excluding a site occupied by In-N-Out — traded for roughly $15 million. Situated at the northwest corner of Lower Sacramento Road and Kettleman Lane, …

Long Beach, Calif. — JLL Capital Markets has arranged a $7.5 million permanent loan to refinance 200 Pine Avenue, a 64,376-square-foot retail and office property located in Long Beach. Brad Vansant and Jenna Frakes of JLL secured the fixed-rate financing on behalf of the borrower, Bascom Group. Renovated in 2022, 200 Pine Avenue is a six-story building with an attached 123-stall parking garage and ground-floor retail space. The building, which has recently been renovated to provide common area and tenant improvements, is 81 percent leased to 15 tenants. Restaurant and …

Hesperia and San Bernardino, Calif. — Hanley Investment Group Real Estate Advisors has negotiated the $5.2 million sale of two newly constructed, single-tenant Quick Quack Car Wash properties in two separate transactions located in Hesperia and San Bernardino. Each 3,596-square-foot property operates on a 20-year absolute triple-net ground lease and sold for roughly $2.6 million. Bill Asher and Jeff Lefko of Hanley represented both sellers.

Victorville, Calif. — Hanley Investment Group Real Estate Advisors has arranged the $7 million sale of Victor Town Center, a 47,650-square-foot retail property located in Victorville, approximately 35 miles north of San Bernardino. The three-tenant center is leased to dd’s DISCOUNTS, a Department of Veterans Affairs outpatient clinic and a 16-stall Tesla Supercharger station, which is situated within the property’s parking lot. Ayda Kach and Sean Cox of Hanley Investment Group, along with Greg Bedell of Progressive Real Estate Partners, represented the seller, PacWest Management Inc, in the transaction. The all-cash …

Rancho Cucamonga, Calif. — Southern California-based firms Redwood West and Panattoni, in partnership with Prime Finance and Prism Places, have acquired Victoria Gardens, a 1.2 million-square-foot lifestyle retail center located in the Inland Empire city of Rancho Cucamonga. New York City-based Brookfield Properties, a subsidiary of Brookfield Corp., sold the open-air mall for $530 million. Ares Real Estate provided debt financing for the transaction. “We see tremendous opportunity with Victoria Gardens,” says John Pomer, co-founder and managing partner at Redwood West, “It is a one-of-a-kind, highly productive asset with deep roots in …