Newport Beach, Calif. — SRS Real Estate Partners has negotiated the $5.2 million sale of a single-tenant retail property located on the Balboa Peninsula in Newport Beach. A 7-Eleven convenience store has occupied the 3,651-square-foot site for more than 48 years. Kevin Held of SRS Capital Markets represented the seller, a California-based family trust. The buyer was a California-based private investor.
Los Angeles — Kidder Mathews has arranged the $32.7 million sale of Holmby Hall, a landmark retail property in the Westwood Village neighborhood of Los Angeles. Holmby Hall offers 50,790 square feet of retail space. The building, which is designated as a Historic-Cultural Monument by the Los Angeles City Council, was built in 1929 in the Spanish Colonial Revival style and features a 110-foot clock tower. Tanel Harunzade and Darrell Levonian of Kidder Mathews, along with former Kidder Mathews agent David Saghian, brokered the transaction. Additional details of the transaction …
Fresno, Calif. — Columbia, Maryland-based pickleball concept Dill Dinkers has signed a franchise agreement to open 10 new venues in the Central Valley region of California. Entrepreneurs Bill Revilla and Georgia Revilla will own and operate the locations, which will offer several indoor pickleball courts separated by fences, as well as event space, a ball machine and a reservation system for guests. Founded in 2022, Dill Dinkers currently has nine operating locations in the United States and more than 380 locations under development across Texas, Washington, D.C., North Carolina, Connecticut, South …
San Diego — PSRS has arranged $6.7 million in refinancing for a 65,000-square-foot shopping center located in San Diego. The two-building multi-tenant property is occupied by Smart & Final, AutoZone and Big 5 Sporting Goods. Additionally, Burger King occupies a drive-thru restaurant pad site on a ground lease. Trevan Swierczewski and Alexander Santulis of PSRS secured the nonrecourse loan that was structured with a 15-year term and 15-year amortization.
Santa Barbara, Calif. — Hanley Investment Group Real Estate Advisors has arranged the $3.7 million sale of a single-tenant retail property located at 402 N. Milpas St. in Santa Barbara. Starbucks Coffee occupies the 2,149-square-foot building, which opened in April, and features the company’s new café-only prototype design. Sean Cox and Bill Asher of Hanley Investment Group represented the seller, a Los Angeles-based developer, while the buyer, a San Francisco-based 1031 exchange investor, represented itself.
Yucca Valley, Calif. — Progressive Real Estate Partners has brokered the $1.9 million sale of a multi-tenant retail building located at 57990 29 Palms Highway in Yucca Valley. The 13,593-square-foot property was fully leased to three tenants at the time of sale including Crazy Bargains, Luxury Nail Spa and No Limits Boutique. The building is situated within a Stater Bros.-anchored retail center, which features a mix of other tenants such as Dollar Tree, Tractor Supply Co. and Harbor Freight. Lance Mordachini of Progressive represented the seller, a Los Angeles County-based private …
Long Beach, Calif. — CenterCal Properties and DRA Advisors has acquired Long Beach Towne Center, with plans to redevelop the 870,000-square-foot property into a prominent retail and entertainment destination. Redevelopments will include new dining options such as chef-driven restaurants, fast-casual concepts and cafés; new retail brands; outdoor gathering areas with shaded seating, enhanced landscaping, public art and year-round programming; updated entertainment offerings with the addition of boutique fitness, wellness and family-oriented experiences; and renovated signage, lighting, pedestrian pathways and parking areas.
Beverly Hills, Calif. — Cain International has announced its first retail and dining tenants at One Beverly Hills, a $10 billion mixed-use project under development in Beverly Hills. Luxury fashion brand Dolce & Gabbana, as well as restaurants Casa Tua Cucina and Los Mochis, have been confirmed as three of the first tenants within the development’s 200,000-square-foot retail district, which is planned to feature 45 shopping and dining options. Brent Habeck of Cain International led leasing efforts for the project. One Beverly Hills, a 17.5-acre “urban resort,” will be designated …
San Jose, Calif. — A joint venture between Southern California-based BISON Partners and PCCP has received $29 million in financing for the acquisition of Bernal Plaza, a 139,559-square-foot open-air retail center in San Jose. Lucky Supermarket anchors Bernal Plaza, which was 94 percent leased at the time of sale. Other tenants at the property include Ross Dress for Less, Staples, American Barbell Clubs, Starbucks Coffee, McDonald’s, Shell and Nick the Greek. Built in 1999, Bernal Plaza spans roughly 16 acres. Alex Olson, Todd Sugimoto, Lauren Sackler and Danny Ryan of …
Rocklin, Calif. — JLL Capital Markets has arranged a $27 million construction loan for the development of a 52,200-square-foot neighborhood retail center situated within the master-planned community of Whitney Ranch, roughly 22 miles northeast of Sacramento. Dubbed Whitney Ranch Retail Center, the property will include 35,000 square feet of in-line and standalone retail space, as well as five pad sites totaling 17,200 square feet. Additionally, a 43,000-square-foot Nugget Markets grocer will shadow anchor the retail center. Whitney Ranch Retail Center is currently 60 percent preleased to local, regional and national …
