Newport Beach, Calif. — Graystone Capital Advisors has brokered the $18 million sale of a 5,700-square-foot retail building located in Newport Beach. Constructed in 1973, the property is situated on a 0.3-acre parcel with 75 feet of water frontage and views of Newport Harbor and the Pacific Ocean. Matthew Hardke of Graystone secured the buyer, an entity doing business as 2406 LLC, and arranged acquisition financing. James Boys LLC was the seller.
Lancaster, Calif. — Hanley Investment Group Real Estate Advisors has arranged the sale of two single-tenant properties situated within Antelope Valley Plaza in Lancaster. Individual, private 1031-exchange buyers acquired the properties in separate transactions totaling $11.4 million. Smart & Final Extra! occupies the first building, which comprises 32,000 square feet. Situated on 1.9 acres, the property was built in 1979 and renovated in 2023. Occupied by dd’s Discounts, the second property features 24,000 square feet situated on 1.6 acres. Other tenants at Antelope Valley Plaza include CVS/pharmacy, AT&T Wireless, Supercuts and …
Los Angeles — The University of California, Los Angeles (UCLA) has acquired One Westside and Westside Two, located two miles from its Westwood campus in Los Angeles. A joint venture between Hudson Pacific Properties (NYSE: HPP) and Macerich (NYSE: MAC) sold the assets for $700 million. The 700,000-square-foot property — located at 10800, 10830 and 10850 W. Pico Blvd.— was formerly occupied by Westside Pavilion mall, a city landmark that served as the backdrop for a number of movies and television shows since its opening in 1985. Hudson Pacific and Macerich …
Santa Maria, Calif. —Hanley Investment Group Real Estate Advisors has facilitated the $5.1 million sale of a single-tenant property located in Santa Maria. Raising Cane’s Chicken Fingers occupies the newly constructed building, which comprises 3,172 square feet. The restaurant is situated within Enos Ranch, a 110-acre mixed-use development. Alexander Moore, Sean Cox and Kevin Fryman of Hanley represented both the seller, College West Partners, and the buyer in the transaction.
Rancho Cucamonga, Calif. — Progressive Real Estate Partners has arranged the $3 million sale of a 1.7-acre parcel of land located in Rancho Cucamonga. Zoned for mixed-use, the property is situated less than a mile from retail center Victoria Gardens. Chris Lindholm and Paul Galmarini of Progressive represented the seller, a Los Angeles County-based private investor, in the transaction. Nicholas Christen of Province West represented the buyer.
San Jose, Calif. — Brixton Capital has acquired Monterey Plaza, a 178,204-square-foot retail center located in San Jose. Tenants at the property, which was 71 percent occupied at the time of sale, include FoodMaxx, City Sports Club, Dollar Tree, McDonald’s and Taco Bell. Brixton plans to re-tenant a space formerly occupied by Walmart and implement renovations including new exteriors and landscaping. A joint venture between Kimco Realty and Prudential Global Investment Management sold the property for an undisclosed price. Nicholas Bicardo of Newmark Group represented the seller in the transaction. Brixton …
Inglewood, Calif. — Hanley Investment Group Real Estate Advisors has brokered the $4.2 million sale of a retail center located in Inglewood. Dollar General anchors the 12,750-square-foot property, which was built in 1961 and renovated in 2004. Kevin Fryman, Carlos Lopez, Sean Cox and Alexander Moore of Hanley represented the seller, a Los Angeles-based private investor. Robert Toofer of Exclusive Realty represented the buyer.
Culver City, Calif. — Four new tenants have signed leases at The Culver Steps, a 120,000-square-foot mixed-use development located in Culver City, roughly 11 miles outside Los Angeles. Skincare concept Formula Fig has opened a 2,000-square-foot store at the property, and Yunomi Handroll has opened a 2,500-square-foot restaurant. Restaurants AFURI Ramen and Laurel Grill have also signed leases at the development and will occupy 2,600 and 7,500 square feet, respectively. AFURI Ramen is scheduled to open this month, and Laurel Grill will open next year.
Santa Ana, Calif. — Tabani Group has acquired Bristol Marketplace, a 107,687-square-foot retail center located in Santa Ana, for $16.7 million. A two-story, 99,751-square-foot space formerly occupied by Kohl’s and adjacent shop space occupy the property. Gleb Lvovich, Daniel Tyner, Geoff Tranchina and Conor Quinn of JLL Capital Markets Investment Sales Advisory represented the seller in the deal.
Auburn, Calif. — Gantry has secured a $9.6 million permanent loan for the acquisition of The Plaza, a retail center located in the Sacramento suburb of Auburn. Situated on 3.4 acres, the property comprises 74,000 square feet of retail space. Tenants at the center include Best Buy, Mel’s Original Diner, Little Caesars Plaza, Mattress Firm, Sola Salon Studios, Garden of Eat’n, Lyon Real Estate, Miracle Ear, Salon Centric and T-Mobile. Tony Kaufmann and Erinn Cooke of Gantry secured the financing on behalf of the borrower, a private real estate company. A …
