San Gabriel, Calif. — Cushman & Wakefield has arranged the $10 million sale of Las Tunas Plaza, a shopping center in San Gabriel, an eastern suburb of Los Angeles. Situated on 1.3 acres, the property totals 17,473 square feet. Tenants at the center, which was 90 percent leased at the time of sale, include 7-Eleven, Golden Deli and Bopomofo Café. Joseph Lising, Mitchell Neff and Maureen Gitto of Cushman & Wakefield represented the seller in the transaction.
Costa Mesa, Calif. — Continental Realty Corp. has acquired South Coast Collection, a 292,000-square-foot retail center located in Costa Mesa. Built in 2007, the property was 97 percent leased at the time of sale. Tenants at the center include COCO Republic, Design Within Reach, Roche Bobois, Pirch, Paul Mitchell the School, Brown Jordan, Natuzzi Italia, Room & Board, Arc Food and Libations, Butcher’s House, Greenleaf Kitchen & Cocktails, Moulin, Paragon and Portola Coffee. The center also features The OC Mix, a 15,000-square-foot collection of more of more than 20 retailers and …
Rancho Cucamonga, Calif. — Progressive Real Estate Partners has brokered the $7.5 million sale of a nine-tenant retail building located in Rancho Cucamonga. Situated within Terra Vista Town Center, the 21,918-square-foot property was fully leased at the time of sale. Tenants at the building, which have all signed triple-net leases, include a jeweler, escape room and indoor playground. Greg Bedell and Paul Su of Progressive represented the seller in the transaction.
Hayward, Calif. — Las Montañas Supermarket has opened a 23,334-square-foot store at Creekside Center, an 80,311-square-foot retail center located in Hayward. In addition to a selection of produce, meat, poultry and seafood, the store features a taqueria. Other tenants at Creekside Center include The King Mattress and Furniture II, Supernails, Cricket Wireless, Rent-A-Center, Papa John’s, Subway and Carl’s Jr.
San Diego and Dallas — Realty Income Corp. (NYSE: O) and Spirit Realty Capital Inc. (NYSE: SRC) have entered into an all-stock merger agreement valued at $9.3 billion. The combined company, which will operate under the Realty Income banner, is expected to become the fourth largest REIT on the S&P 500 index with a total enterprise value of $63 billion. Both companies primarily invest in freestanding, net-leased commercial properties. Realty Income boasts a portfolio of 13,100 properties located across the U.S. and Europe, and Spirit Realty owns a portfolio of …
Ontario, Calif. — SRS Real Estate Partners has brokered the $4.6 million sale of a freestanding restaurant property located in Ontario. Culichi Lounge Inc. acquired the 5,535-square-foot building, which is occupied by Culichi Town, from an undisclosed local developer. Matthew Mousavi and Patrick Luther of SRS represented the seller in the deal. Terrison Quinn and Zach Leffers of SRS arranged the lease with Culichi Town on behalf of the seller.
Valencia, Calif. — Hanley Investment Group Real Estate Advisors has arranged the $3.7 million sale of a car wash property currently underway in Valencia. The building, which is scheduled for completion in the first quarter of 2024, will total 4,263 square feet. BLISS Car Wash will occupy the property on a triple-net-lease basis.Bill Asher and Jeff Lefko of Hanley represented the developer and seller, Fountainhead Development, in the transaction. Jenny Eng of CBRE represented the undisclosed buyer.
Montclair, Calif. — Main Event Entertainment has signed a 51,802-square-foot lease at Montclair Place, a 1.2 million-square-foot retail center located in Montclair. Main Event will operate a venue featuring 20 bowling lanes, laser tag, escape rooms, banquet rooms, private bowling lanes and food and beverages, with the opening scheduled for 2025. CIM Group is the landlord. Main Event will occupy the ground floor of a 134,000-square-foot, two-story building. Dave & Buster’s Entertainment acquired the brand, which currently operates in more than 50 locations, in 2022.
Riverside, Calif. — Hanley Investment Group Real Estate Advisors has arranged the acquisition of five retail outparcels located at Citrus Landing, a 124,904-square-foot retail center in Riverside. Tenants at the outparcels, which total 25,916 square feet, include Carl’s Jr., Quick Quack Car Wash, Arrowhead Credit Union, Panda Express, Café Bottega, Pacific Dental, and Chick-fil-A, which is scheduled to open next year. Stater Bros. anchors Citrus Landing, which was fully occupied at the time of sale. Kevin Fryman and Ed Hanley of Hanley Investment Group represented the 1031-exchange buyers in the transaction. …
Oceanside, Calif. — Sedaka Investment Partners has acquired a 7,424-square-foot retail property located in Oceanside. The property was fully leased to four tenants at the time of sale. Sedaka purchased the property from an undisclosed seller for $2.7 million.
