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CaliforniaDevelopmentGrocery-anchoredNews

Space Investment Completes $11 Million Renovation of Retail Center in Southern California

by Hayden Spiess

Costa Mesa, Calif. — Space Investment Partners has completed the $11 million renovation of The Ranch at Newport Bay, a retail center located in Costa Mesa. Irvine Ranch Market anchors the property, which totals 60,000 square feet. The renovation project included the expansion of the anchor tenant’s space by 2,500 square feet. Verde recently signed a lease at the center, bringing the development to full occupancy. Other tenants at the property include Nike Training Studio, XPT Studio, Del Mar Wellness, Coffee Dose and Tiny Tooth Pediatric Dentistry. Space Investment Partners acquired …

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99-Cents
ArizonaCaliforniaCompany newsFinanceInvestment salesNevadaNewsTexas

Hilco Arranges $168 Million Sale of 99 Cents Portfolio

by Hayden Spiess

Commerce, Calif. — Hilco Real Estate has arranged the $168 million sale of the 99 Cents Only Stores LLC real estate portfolio as part of the retailer’s Chapter 11 bankruptcy proceedings. Founded in 1982, California-based 99 Cents began its liquidation in April 2024, citing rising competition, increased labor costs, challenging logistics and the effects of the COVID-19 pandemic. The portfolio included 44 company-owned properties, as well as 333 store leases and three vacant development parcels. According to Hilco, the portfolio generated significant interest, and 181 asset purchase agreements with non-refundable earnest money deposits …

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CaliforniaDevelopmentLeasingMixed-useNews

Space Investment Partners Completes $11 Million Renovation of Mixed-Use Property in Costa Mesa, California

by Katie Sloan

Costa Mesa, Calif. — Space Investment Partners has completed an $11 million renovation of The Ranch at Newport Bay, a 60,000-square-foot mixed-use property located at 2651-2675 Irvine Ave. in the Orange County community of Costa Mesa. Restaurant and bar concept Verde opened within a 5,000-square-foot space in November, bringing the property to full occupancy. Additional tenants include Nike Training Studio, XPT Studio, Del Mar Wellness, Coffee Dose and Tiny Tooth Pediatric Dentistry. Anchor tenant Irvine Ranch Market occupies 17,500 square feet at the center. Details on the renovation were not disclosed.

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CaliforniaInvestment salesNews

Marcus & Millichap Brokers $10.8 Million Sale of Shopping Center in Southern California

by Hayden Spiess

Yucaipa, Calif. — Marcus & Millichap has brokered the $10.8 million sale of Center Point Plaza, a shopping center located in Yucaipa. Constructed in 2007, the property totals 28,924 square feet. Ivan Prochko, Orbell Ovaness and Ara Rostamian of Marcus & Millichap’s Ovaness-Rostamian Group represented the seller, an undisclosed partnership, in the transaction. Bashir Tariq of Keller Williams Realty represented the buyer, a private investor. 

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Huntington Oaks Center
CaliforniaGrocery-anchoredInvestment salesNews

Hanley Arranges Sale of 250,787-Square-Foot Shopping Center in Southern California

by Hayden Spiess

Monrovia, Calif. — Hanley Investment Group Real Estate Advisors has arranged the sale of Huntington Oaks Center, a 250,787-square-foot shopping center located in Monrovia, approximately 20 miles outside Los Angeles. Built in 1984, the property was 75 percent occupied at the time of sale. Tenants at the center include Trader Joe’s, Burlington, Marshalls, Crunch Fitness, Chili’s Grill & Bar, Mimi’s Café, Chipotle Mexican Grill and Panda Express. A Kohl’s is also located at the property but was not included in the sale. Hanley represented the seller in the transaction.

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CaliforniaFinanceNews

Castle & Cooke Secures $140 Million Financing for Crossings at Corona Retail Center in California

by Hayden Spiess

Corona, Calif. — Castle & Cooke has received $140 million in financing for Crossings at Corona, a retail center located in Corona. Delivered in 2005, the property totals 833,995 square feet. Tenants at the property include Marshalls, Kohl’s, HomeGoods, Sportsman’s Warehouse, Burlington and Edward’s Theatre. John Marshall, Spencer Seibring and Nick Englhard of JLL Capital Markets arranged the loan through Deutsche Bank AG. 

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CaliforniaInvestment salesNews

Capstone Acquires Retail Center in Southern California for $32.1 Million 

by Hayden Spiess

Solana Beach, Calif. — Capstone Advisors has acquired Beachwalk Shopping Center, a retail center located in Solana Beach, for $32.1 million. Capstone plans to implement physical upgrades and a curated tenant roster at the property, which totals 55,580 square feet across eight buildings. GEM Realty Capital, which purchased the property in April 2017, was the seller.

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CaliforniaGrocery-anchoredInvestment salesNews

Hanley Brokers $20.8 Million Sale of Five Shopping Center Outparcels in Riverside, California

by Hayden Spiess

Riverside, Calif. — Hanley Investment Group Real Estate Advisors has brokered the $20.8 million sale of five outparcels at Citrus Landing, a shopping center located in Riverside. Stater Bros. anchors the center, which was fully leased at the time of the transaction. Together, the five properties total 25,916 square feet. Tenants at the pad and outparcel buildings include Chick-fil-A, Quick Quack Car Wash, Arrowhead Credit Union, Panda Express, Café Bottega and Pacific Dental. Kevin Fryman and Ed Hanley of Hanley represented the seller, a private investor, in the transaction. Art Flores …

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CaliforniaInvestment salesNews

Hanley Arranges Sale of 15,000-Square-Foot Retail Pad in Fresno, California

by Hayden Spiess

Fresno, Calif. — Hanley Investment Group Real Estate Advisors has brokered the sale of the Shops at Broadway Faire, a multi-tenant retail pad located in Fresno. Tenants at the property, which is situated on an outparcel to a grocery-anchored shopping center, include Red Robin, FedEx, Conroy’s Flowers, Liquor 4U and OneMain Financial. Eric Wohl and CJ Kiehler of Hanley represented the seller, a New York-based investment trust, in the transaction. A local private investor acquired the pad. 

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