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CaliforniaGrocery-anchoredInvestment salesNews

JLL Arranges $20.5 Million Financing for Retail Center in San Jose, California

by Hayden Spiess

San Jose, Calif. — JLL Capital Markets has arranged a $20.5 million loan for the refinancing of Almaden Safeway Center, a 143,452-square-foot retail center in San Jose. Safeway anchors the property, which comprises three buildings situated on 11.6 acres and was fully leased at the time of financing. Other tenants at the center include JoAnn’s Fabrics, McDonald’s, T-Mobile and Savers. Bruce Ganong, Lillian Roos and Matthew Mingrone of JLL secured the ten-year, fixed-rate financing through RGA Reinsurance Co. on behalf of the borrower, Brothers International Holding Corp.

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CaliforniaDevelopmentEntertainmentNews

Disney Proposes $1.9 Billion Expansion of Disneyland Theme Park in Anaheim, California

by Hayden Spiess

Anaheim, Calif. — The Walt Disney Co. (NYSE: DIS) has proposed a $1.9 billion expansion of its Disneyland Resort and surrounding neighborhood in Anaheim, south of Los Angeles in Orange County. If approved, the various new projects would be carried out within 10 years of the approval date, with the potential for another $600 million in capital investment to follow. The proposal, known as DisneylandForward, calls for new attractions and hotels to be constructed on the west side of Disneyland Drive. In addition, the theme park’s operators are looking to add …

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CaliforniaGrocery-anchoredInvestment salesNews

Maven Brokers $15.9 Million Sale of Retail Center in Santa Clara, California

by Hayden Spiess

Santa Clara, Calif. — Maven Commercial has brokered the $15.9 million sale of University Shopping Center, a 2.9-acre retail center located in Santa Clara. Safeway anchors the property, which was fully leased at the time of sale. Tenants at the center include Taco Bell, Round Table Pizza and Wicked Chicken. An entity controlled by the Bushnell family sold the property, which is situated next to Santa Clara University, to Bay Properties Inc. Matthew Sheridan, Dominic Morbidelli and Santino DeRose arranged the sale.

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CaliforniaLeasingNewsRestaurants

Six Tenants Join MainPlace Shopping Center in Santa Ana, California

by Hayden Spiess

Santa Ana, Calif. — Six new tenants have joined MainPlace, a three-story shopping center located in Santa Ana. Eateries Cali Licious Crab and Brews, Yogurt Bear and Delight now occupy 4,899; 253; and 1,031 square feet, respectively. LA Custom Apparel + Accessories and Fiesta Center have also joined the lineup, opening 6,326- and 2,199-square-foot stores. Additionally, a 2,096-square-foot The Hype Makers Market is now open at the center, featuring a collection of individual maker booths with apparel, jewelry, décor, gifts and other products, including items from the Sleeping Cauldron, another retailer …

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CaliforniaInvestment salesNewsRestaurants

Hanley Brokers $5.7 Million Sale of Single-Tenant Property in Metro San Diego

by Hayden Spiess

Imperial Beach, Calif. — Hanley Investment Group Real Estate Advisors has brokered the $5.7 million sale of a single-tenant property located in Imperial Beach, roughly 15 miles outside San Diego. Raising Cane’s Chicken Fingers occupies the building, which is situated on a 0.7-acre pad site. Bill Asher and Jeff Lefko of Hanley represented the developer and seller, an entity doing business as Palm Avenue 111 Partners LLC, in the 1031, all-cash transaction. Scott Ketchum, a Newport Beach-based broker, represented the buyer, a family trust. 

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CaliforniaCompany newsDevelopmentGeorgiaMarylandNewsPennsylvaniaTexas

IKEA to Open Four New-Format Stores in 2024

by Hayden Spiess

Conshohocken, Pa. — IKEA will open four stores featuring its new Plan & Order Point with Pick-Up format. Scheduled to open this year, the stores will be located in Austin, Texas, metro Atlanta and the greater Los Angeles area. Situated within Domain Shopping Center, the Austin store will open this summer and will mark the second IKEA location in the city. Plan & Order Points are “dedicated to kitchen, bedroom and living room projects,” according to the company’s website. The stores feature a smaller layout with no merchandise to be taken …

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CaliforniaFinanceNews

Gantry Arranges $8.6 Million Loan for Oak Hills Shopping Center in Pleasanton, California

by Katie Sloan

Pleasanton, Calif. — Gantry has arranged an $8.6 million permanent loan to refinance Oak Hills Shopping Center, located at 5410-5480 Sunol Blvd. in the Bay Area city of Pleasanton. Raley’s grocery, BMO Bank, Mountain Mike’s Pizza, Jim’s Country Restaurant, Gymboree and Brick Fitness are tenants at the 120,000-square-foot retail center. Mitch Zeemont, Tony Kaufmann and Alex Poulos of Gantry arranged the financing for the borrower, a private real estate entity. One of Gantry’s correspondent life company lenders provided the 12-year, fixed-rate loan with a 20-year amortization.

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CaliforniaLeasingNewsRestaurants

NOVO Brazil Opens 11,500-Square-Foot Restaurant at Mission Valley in San Diego

by Hayden Spiess

San Diego — NOVO Brazil Brewing Co. has opened an 11,500-square-foot restaurant and sports bar within Mission Valley, a 1.1 million-square-foot open-air shopping center located in San Diego. Situated within a space formerly occupied by Tilted Kilt, the concept features an 8,000-square-foot dining room, 3,500-square-foot outdoor patio, a 40-seat bar and extensive LED video walls for viewing sporting events. Other tenants at Mission Valley include Target, Nordstrom Rack, Macy’s Home, Michael’s, Bloomingdale’s Outlet, 24-Hour Fitness, Yard House, Outback, Buffalo Wild Wings and AMC. 

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CaliforniaInvestment salesNet leaseNews

Hanley Brokers $3.3 Million Sale of Single-Tenant Property in Los Angeles

by Hayden Spiess

Los Angeles — Hanley Investment Group Real Estate Advisors has brokered the $3.3 million sale of a single-tenant property located in Los Angeles. Starbucks Coffee occupies the 1,486-square-foot building, which was built in 2017 on a 0.3-acre parcel, on a triple-net-lease basis. Jeff Lefko and Bill Asher of Hanley represented the seller in the transaction. Ryan Sharpe of Kidder Matthews represented the buyer. 

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Avison Young Acquires Madison Marquette Retail Platform, 6.1 Million-Square-Foot Portfolio

by Hayden Spiess

Toronto, Canada and Washington, D.C. — Avison Young has entered into an agreement to acquire Madison Marquette’s retail platform for an undisclosed price. The acquisition will include the Washington, D.C.-based firm’s retail property management, marketing and leasing services throughout the U.S.; and a portfolio comprising more than 6.1 million square feet of properties managed and leased by Madison Marquette. Madison Marquette teams will integrate with those of Toronto, Canada-based Avison Young in Los Angeles, New Jersey, Philadelphia, Indiana, Arkansas, Maryland, Virginia, Atlanta and Florida, and the acquisition expands Avison Young’s presence …

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