California

Stockton, Calif. — Family-owned real estate platform Mershops has acquired Weberstown Mall, an 800,000-square-foot regional shopping center located in Stockton, for $50.8 million. Originally opened in 1966, the center is anchored by JCPenney, Dillard’s and Barnes & Noble. Other tenants include Old Navy, Five Below, BoxLunch, Foot Locker, Lids, Victoria’s Secret and Journeys. Steerpoint Capital brokered the sale on behalf of Mershops. The seller was Washington Prime Group. This transaction marks Mershops’ sixth enclosed shopping center acquisition across California and Nevada. Mershops’ current portfolio includes North County Mall in Escondido, California; …

Fresno, Calif. — Hanley Investment Group Real Estate Advisors has arranged the $4.6 million sale of a 7,052-square-foot multi-tenant retail pad located at 6770 North Brawley Ave. in Fresno. A Dutch Bros Coffee drive-thru anchors the property, which is situated within the River Oak Plaza shopping center. Built in 2019 on 1.3 acres, the building is fully leased to four additional tenants including West Coast Sourdough, WaBa Grill, Sport Clips and Organic Nails & Spa. Sean Cox and Bill Asher of Hanley represented the seller, California Gold Development Corp., in the …

Anaheim, Calif. — Encinitas, California-based Vista Emerald has acquired Pique at Angel Stadium, a 15,710-square-foot multi-tenant retail center located in Anaheim, for $11.3 million. Formerly known as The Shops at Stadium Towers, the property was originally built in 2006 on 2.2 acres. The center was fully leased to eight tenants including 714 Tickets, Aleppo’s Kitchen, Comerica Bank, LAMILL Coffee, Lolas by MFK and Non’s Vietnamese Kitchen at the time of sale, according to LoopNet. The property also offers 150 parking spaces, 16 Tesla Superchargers and prominent pylon street signage. Lee …

Fresno, Calif. — Progressive Real Estate Partners has arranged the $6.7 million sale of Peppertree Plaza, a 51,000-square-foot shopping center located in Fresno. Situated at the intersection of West Shaw and Marks Avenues, the center spans five buildings and was 87 percent leased at the time of sale. Tenants include Outback Steakhouse, Deli-Delicious, Marian’s Mexican Restaurant, Pijja Paradise Pizza & Arcade, Ocean Dental Group, FastSigns and the State Bank of India. Greg Bedell of Progressive represented the seller, a private investor based in the Bay Area. The all-cash buyer was …

Rocklin, Calif. — Hanley Investment Group Real Estate Advisors has negotiated the $3.8 million sale of a two-tenant retail pad located in Rocklin, approximately 25 miles northeast of downtown Sacramento, for $3.8 million. Situated at 2303 Sunset Blvd., the 6,122-square-foot building is occupied by U.S. Bank and a drive-thru Animal Urgent Care, each on a triple-net lease. Built in 2022, the property sits on roughly 1 acre. Nearby tenants include Taco Bell, Safeway, Costco, Target, The Home Depot, WinCo Foods and Chipotle Mexican Grill. Eric Wohl and CJ Kiehler of Hanley …

El Centro, Calif. — Hanley Investment Group Real Estate Advisors has negotiated the $2.6 million sale of a single-tenant retail building located in El Centro. Dutch Bros Coffee occupies the drive-thru property on a 15–year, absolute triple-net-lease with 10 percent rental increase every five years. Formerly a Wendy’s fast-food restaurant, the 2,411-square-foot building was originally built in 1988. Situated on an outparcel to a Vons-anchored retail center, nearby tenants include Smart & Final Extra!, Dollar General Market, Costco, Lowe’s, Target and Ashley Furniture. Bill Asher, Jeff Lefko and Beau Velten …