California

first-street-napa
CaliforniaFinanceMixed-useNews

CBRE Arranges $57.6 Million in Refinancing for First Street Napa Mixed-Use Property in California

by Abby Cox

Napa, Calif. — CBRE has arranged $57.6 million in refinancing for First Street Napa, a Class A mixed-use property in downtown Napa. Brad Zampa and Andy Gross of CBRE secured the loan through Knighthead Funding on behalf of the borrower, Zapolski Real Estate. Located at 1300 First St., the property features 163,000 square feet of retail, dining, tasting rooms and office space across six buildings. First Street Napa is currently 88 percent leased to a variety of tenants, including Lululemon, Compass, Free People and Silicon Valley Bank, with new retail additions …

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Conejo Valley Plaza
CaliforniaFinanceGrocery-anchoredNews

Northmarq Arranges $35 Million in Financing for Conejo Valley Plaza in Metro Los Angeles

by Abby Cox

Thousand Oaks, Calif. — Northmarq has arranged a $35 million bridge loan for Conejo Valley Plaza, a 128,243-square-foot grocery-anchored retail center located in Thousand Oaks, roughly 38 miles west of Los Angeles. Northmarq secured the five-year bridge loan through New York Life on behalf of Gerrity. The transaction was structured with full-term interest-only payments. Built in 1983 and renovated in 2005, Conejo Valley Plaza spans 12.3 acres and is home to a mix of tenants including Ralphs, Toppers Pizza, Poke Land and Rise Southern Biscuits.

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mcdonalds-rep-photo
CaliforniaInvestment salesNews

RealSource Group Arranges $3.2 Million Sale of Single-Tenant Retail Property in Southern California

by Abby Cox

Wildomar, Calif. — RealSource Group has arranged the $3.2 million sale of a newly constructed, single-tenant retail property located within the Canyon Plaza retail development in Wildomar. McDonald’s occupies the 4,000-square-foot building, which includes a dual-lane prototype design, on a new 20-year absolute triple-net ground lease. Jonathan Schiffer and Austin Blodgett of RealSource represented the seller, a private Southern California-based developer. Dustin Lee of J&C Investment Group represented the buyer, a private international investor, in the transaction.

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CaliforniaDevelopmentGrocery-anchoredInvestment salesNews

Renovation of Heritage Square Opens in Irvine, California

by Abby Cox

Irvine, Calif. — Construction has been completed on the renovation of Heritage Square, an 85,000-square-foot grocery anchored shopping center located in Irvine. The project, designed by Nadel Architects, consisted of a full aesthetic refresh of the center, which was originally built in 1984. Additional improvements included the repositioning of two existing shop buildings, the demolition of two outdated structures and the redevelopment of a new 28,000-square-foot retail market building. The center is managed by Meadows Asset Management. Situated adjacent to the 233,000-square-foot Heritage Plaza shopping center, Heritage Square is home to …

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gateway-shopping-center
CaliforniaInvestment salesNews

DJM Sells Gateway Shopping Center in Mission Viejo, California, for $51 Million

by Abby Cox

Mission Viejo, Calif. — Orange County-based DJM has sold Gateway Shopping Center, a 79,001-square-foot shopping center located in Mission Viejo. An institutional buyer purchased the property for $51 million. JLL represented DJM in the all-cash transaction. Completed in 1979 on 7.4 acres, Gateway Shopping Center features a mix of tenants including Starbucks, Baja Fresh, Saddleback Family & Urgent Care and Chase, among others. The center was 97 percent leased at the time of sale. DJM acquired Gateway Center in December 2021 from Gerrity Group for $39.5 million. Following the acquisition, DJM …

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Western-Plaza
CaliforniaInvestment salesNews

West Hive Capital Sells Western Plaza in Southern California for $24.5 Million

by Abby Cox

Rancho Palos Verdes, Calif. — Hanley Investment Group Real Estate Advisors has negotiated the $24.5 million sale of Western Plaza, a 28,190-square-foot neighborhood center located in Rancho Palos Verdes. Jeff Lefko of Hanley Investment Group represented the seller, West Hive Capital, in the transaction. Sheila Alimadadian of Marcus & Millichap represented the buyer, Aria Investments. After acquiring Western Plaza in 2024 for $8 million, West Hive Capital completed a full-scale redevelopment of the property. Renovations featured a complete exterior façade modernization, upgraded building systems, parking lot enhancements, an improved tenant mix …

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H-Mart
CaliforniaDevelopmentGrocery-anchoredNews

Vestar Signs New Anchor Tenant at Pacific Commons Shopping Center in Fremont, California

by Abby Cox

Fremont, Calif. — Asian supermarket chain H Mart will open a 100,000-square-foot flagship store at Pacific Commons Shopping Center, a 1.1 million-square-foot super-regional power center located on the southeastern shore of San Francisco Bay in Fremont. The new store will introduce H Mart’s multi-level prototype, which will include a food hall with fast-casual eateries, full-service dine-in restaurants, a bar and entertainment offerings. Construction on the development is expected to begin in late 2026. Owned by Heitman and managed by Vestar, Pacific Commons Shopping Center is home to more than 55 …

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pleasant-valley-plaza
CaliforniaGrocery-anchoredInvestment salesNews

Hanley Investment Group Arranges $20.3 Million Sale of Grocery-Anchored Center in Oxnard, California

by Abby Cox

Oxnard, Calif. — Hanley Investment Group Real Estate Advisors has arranged the sale of Pleasant Valley Plaza, an 81,128-square-foot grocery-anchored shopping center in Oxnard, for $20.3 million. Originally built in 1961 and renovated in 2022, Pleasant Valley Plaza is 95 percent occupied and includes a mix of tenants including La Plaza Meat Market, O’Reilly Auto Parts, H Mart and Metro by T-Mobile, as well as various restaurants, service tenants and neighborhood retailers. Sean Cox and Kevin Fryman represented the seller, a private partnership based in Los Angeles. The buyer, a …

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Chino-Spectrum-Towne-Center
CaliforniaInvestment salesNews

Brixmor Property Group Acquires Chino Spectrum Towne Center in California for $138 Million

by Abby Cox

Chino, Calif. — New York-based Brixmor Property Group has acquired Chico Spectrum Towne Center, a 461,269-square-foot grocery-anchored power center located in Chino, for $138 million. Jimmy Slusher, Preston Fetrow, James Tyrrell, Mark Damiani and Shaya Northrup of CBRE represented the seller, MetLife Investment Management, in the transaction. Chino Spectrum Towne Center is 95 percent leased to tenants including Kohl’s, Five Below, Best Buy, Marshalls, BevMo!, Ulta Beauty, Nordstrom Rack and a newly opened H Mart grocery store.

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grossmont-center
CaliforniaDevelopmentNews

Federal Realty Underway on Redevelopment of 925,000-Square-Foot Shopping Center in La Mesa, California

by Abby Cox

La Mesa, Calif. — Federal Realty Investment Trust is underway on the redevelopment of Grossmont Center, a 925,000-square-foot shopping center located in the San Diego suburb of La Mesa. The first phase of the multi-year renovation will include façade upgrades for storefronts; updated landscaping and greenery; enhanced common areas with new outdoor seating; and improvements to pedestrian foot traffic routes, lighting and overall visibility. Completion of Phase I is anticipated for October 2026. All existing businesses will remain open throughout construction. Federal Realty Investment Trust acquired Grossmont Center in 2021. Tenants …

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