California

Progressive Brokers $9.5 Million Sale of Single-Tenant Property in Southern California

by Hayden Spiess November 7, 2024

Highland, Calif. — Progressive Real Estate Partners has brokered the $9.5 million sale of a single-tenant retail property located in Highland. Situated on an outparcel to Highlands Crossing, a regional shopping center, the property is occupied by a Chevron Station with a 3,000-square-foot ExtraMile Convenience Store and Express Car Wash. G & M Oil Co. acquired both the real estate and the business in the transaction. Victor Buendia of Progressive represented the seller, a San Diego-based private investor, in the sale. Scott Olson of C-Store Realty represented the buyer. The property …

November 7, 2024

California Investment sales News

Hanley Arranges Sale of 7,914-Square-Foot Retail Building in Southern California

by Hayden Spiess November 4, 2024

Aliso Viejo, Calif. — Hanley Investment Group Real Estate Advisors has arranged the sale of a 7,914-square-foot building located in Aliso Viejo. Situated within Aliso Viejo Town Center, the currently vacant property previously housed Macaroni Grill. ValueRock Realty Partners acquired the building for $5.3 million. Sean Cox, Bill Asher and Kevin Fryman of Hanley represented the seller, a Florida-based private investor, in the transaction. Tenants at Aliso Viejo Town Center, which totals 380,000 square feet, include Ralphs, CVS/pharmacy, Staples, T.J. Maxx, HomeGoods, PetSmart and Regal Cinemas.

November 4, 2024

California Investment sales Net lease News

Progressive Arranges $7 Million Sale of Single-Tenant Retail Portfolio in San Bernardino, California

by Hayden Spiess October 31, 2024

San Bernardino, Calif. — Progressive Real Estate Partners has arranged the $7 million sale of a portfolio comprising four single-tenant retail properties located in San Bernardino. Situated adjacent to each other, the properties are net leased to tenants including IHOP, Wienerschnitzel, Taco Bell and 76 Gas Station. The sale also included an additional 1.5 acres of land available for future development. Lance Mordachini and Trinnie Lee of Progressive represented the seller in the transaction. Kevin Kwan of Realiv represented the buyer.

October 31, 2024

California Finance News

Majestic Realty Co. Secures Refinancing Totaling $118.9 Million For Two Shopping Centers in California

by Hayden Spiess October 30, 2024

Redlands, Calif. — Majestic Realty Co. Capital Markets has secured loans totaling $118.9 million for the refinancing of two shopping centers located in Redlands. Situated within a 100-acre mixed-use development, the properties — Mountain Grove Shopping Center and Citrus Plaza Shopping Center — together comprise roughly 1 million square feet. A life insurance company provided first trust deed loans of $62.4 and $56.5 million, respectively, for the centers, which Majestic Realty Co. and affiliates developed and manage. Tenants at the properties include Target, Harkins Theaters, Aldi, Nordstrom Rack, Kohl’s, Hobby Lobby, …

October 30, 2024

California Finance News

PSRS Secures $4 Million Refinancing for Retail Property in Ceres, California

by Hayden Spiess October 28, 2024

Ceres, Calif. — PSRS has secured a $4 million loan for the refinancing of a retail property situated within Ceres Gateway Center in Ceres. Tractor Supply Co. occupies the 21,702-square-foot building, which was developed on a built-to-suit basis in 2023. Kostas Kavayiotidis and Matthew Farzinpour of PSRS arranged the non-recourse loan, which features a five-year term, on behalf of the undisclosed borrower. A correspondent life insurance company provided the loan.

October 28, 2024

California Investment sales Net lease News

Hanley Brokers $2 Million Sale of Single-Tenant Retail Property in Southern California

by Hayden Spiess October 23, 2024

Yucca Valley, Calif. — Hanley Investment Group Real Estate Advisors has brokered the $2 million sale of a single-tenant retail property located in Yucca Valley. Built in 2023, the property totals 3,596 square feet. Quick Quack Car Wash occupies the property, which is situated within a Stater Bros-anchored shopping center, on a triple-net ground lease. Bill Asher and Jeff Lefko of Hanley represented the seller, a California-based private partnership, in the transaction. The team also represented the buyer, a Pennsylvania-based private investor. According to Asher, the buyer owns a portfolio of …

October 23, 2024

California Investment sales News

CenterCal, Heitman Acquire 358,700-Square-Foot Retail Center in Brentwood, California

by Hayden Spiess October 22, 2024

Brentwood, Calif. — A joint venture between CenterCal Properties and Heitman has acquired The Streets of Brentwood, a 358,700-square-foot retail center located in Brentwood. The new owners plan to reimagine and enhance the property through the addition of a community gathering space and new retailers and restaurants. “Open-air lifestyle centers have demonstrated strong operating fundamentals post the COVID-19 pandemic,” says Gordon Black, portfolio manager at Heitman. “These fundamentals are further benefitting from minimal new supply and sustained demand from retailers, a trend we believe will continue.”

October 22, 2024

California Finance News

BWE Secures $45.5 Million Financing for Circle K Portfolio

by Hayden Spiess October 17, 2024

Irvine, Calif. — BWE has secured a $45.5 million loan for the financing of a Circle K portfolio across six states. Located in Arizona, Florida, Georgia, Louisiana, North Carolina and South Carolina, the portfolio comprises 104 single-tenant convenience store and gas station properties. Tom Kenny and Josh Boehling of BWE’s Irvine office arranged the loan through a life insurance company on behalf of the undisclosed borrower. The five-year fixed-rate financing features interest-only payments and a five-year extension option.

October 17, 2024

California Investment sales News

Faris Lee Investments Arranges $5.3 Million Presale of Single-Tenant Retail Property in Fresno, California

by Hayden Spiess October 15, 2024

Fresno, Calif. — Faris Lee Investments has arranged the $5.3 million presale of a newly constructed, single-tenant retail property in Fresno. The Learning Experience daycare occupies the property on a long-term 20-year net-lease basis. Scott DeYoung, Jeff Conover and Greg Lukosky of Faris Lee represented the undisclosed seller in the transaction.

October 15, 2024

California Investment sales News Restaurants

Hanley Arranges $4 Million Sale of Single-Tenant Property in Metro San Francisco

by Hayden Spiess October 11, 2024

Alameda, Calif. — Hanley Investment Group Real Estate Advisors has arranged the $4 million sale of a single-tenant retail property located in Alameda, roughly 15 miles east of San Francisco. Jack in the Box occupies the building, which totals 2,583 square feet and features a drive-thru. Originally built in 1991, the property is situated within the shopping district of Downtown Alameda. Bill Asher, Jeremy McChesney and Jeff Lefko of Hanley, with Cherie Huillade of Colliers, represented the seller, CalBay Development, in the transaction. Jake Kim of Pinnacle Estate Properties represented the …

October 11, 2024

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