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Chipotle Rancho Cordova
CaliforniaInvestment salesNet leaseNews

Hanley Brokers $4.3 Million Pre-Sale of Single-Tenant Property Near Sacramento

by Hayden Spiess

Rancho Cordova, Calif. — Hanley Investment Group Real Estate Advisors has brokered the $4.3 million pre-sale of a single-tenant property located in Rancho Cordova, roughly 13 miles outside Sacramento. Situated on a 0.8-acre parcel within the Anatolia Marketplace shopping center, the building totals 2,325 square feet. Chipotle Mexican Grill has signed a triple-net ground lease at the property. Bill Asher and Jeff Lefko of Hanley represented the seller, an entity doing business as Anatolia Marketplace LLC, in the transaction. Chipotle is scheduled to open at the property in September.

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CaliforniaLeasingNews

Axiom Arranges Two Leases Totaling 20,128 Square Feet at Shopping Center in Southern California

by Hayden Spiess

Escondido, Calif. — Axiom Retail Advisors has arranged two leases totaling 20,128 square feet at a shopping center located in Escondido. The tenants, Dollar Tree and Big Blue Swim School, will occupy a former Big Lots property at the center, which is anchored by The Home Depot. Lea Clay Park and Stephanie Skrbin of Axiom represented the landlord, Red Mountain Retail Group, in the lease negotiations. Brian Pyke of Retail Insite represented Dollar Tree, and Andrew Shemirani of Flocke & Avoyer represented Big Blue Swim School. Red Mountain Retail Group acquired …

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Strip-Center_Riverside-Calif
CaliforniaInvestment salesNews

Progressive Brokers $3.6 Million sale of Shopping Center in Riverside, California

by Hayden Spiess

Riverside, Calif. — Progressive Real Estate Partners has brokered the $3.6 million sale of a strip shopping center totaling 7,250 square feet in Riverside. The property was fully leased at the time of sale. Greg Bedell of Progressive represented the Los Angeles-based seller in the transaction. Girges Gad of Pacific Realty & Finance represented the buyer. 

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River Street Marketplace
CaliforniaDevelopmentLeasingNews

Ten New Tenants Sign Leases at River Street Marketplace in Southern California

by Hayden Spiess

San Juan Capistrano, Calif. — Ten new tenants have signed leases at River Street Marketplace, a 60,000-square-foot retail center currently underway in San Juan Capistrano. Rowan, Tecovas, Hobie, May Martin, Studio Pilates, Parana Empanadas, Pastalia, The Sushi Stand, Kebab Craft and Capas have joined the lineup, bringing the total number of tenants to 30. ALMQUIST is the developer and landlord of the property, which is scheduled to open in September. 

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North Park Retail
CaliforniaInvestment salesNews

Marcus & Millichap Brokers Sale of 3,200-Square-Foot North Park Retail Property in San Diego

by Hayden Spiess

San Diego — Marcus & Millichap has brokered the sale of North Park Retail, a single-tenant restaurant property at 2884 University Ave. in San Diego’s North Park neighborhood. Carlos Partners LLC sold the property to an entity doing business as 1295 University Family LP for $1.9 million. Built in 1948, North Park Retail features 3,200 square feet of space. The single-tenant property was renovated in 2014 for tenant Saiko Sake and Sushi Bar’s build out. Saiko Sushi plans to close when its lease expires in October, leaving the property available for …

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CaliforniaLeasingNews

Six New Tenants Sign Leases at The District at Tustin Legacy in Southern California

by Hayden Spiess

Tustin, Calif. — Six new tenants have signed leases at The District at Tustin Legacy, a shopping center located in Tustin. Restaurants Prime Hot Pot and Curry Pizza House are now open at the center. Baby Shoppe has also opened at the property, and World of Racing, Spirit Halloween and 3CAT are scheduled to open this summer. Vestar is the landlord of the center, which was jointly developed by Vestar and Kimco. 

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Wilshire-Rodeo-Plaza-Bevelry-Hills-CA
CaliforniaInvestment salesMixed-useNews

Tinder Founder Justin Mateen Leads $211 Million Acquisition of Wilshire Rodeo Plaza Office/Retail Property in Beverly Hills

by Hayden Spiess

Beverly Hills, Calif. — Tinder founder Justin Mateen, his brother Tyler Mateen and their brother-in-law Pouya Abdi have acquired Wilshire Rodeo Plaza, a Class A office and retail complex located at the corner of Rodeo Drive and Wilshire Boulevard in the posh Los Angeles suburb of Beverly Hills. Nuveen sold the asset for $211 million. The 300,000-square-foot property includes three six-story office and retail buildings along Wilshire Boulevard and a three-story office building along Rodeo Drive.  The buyers plan to rebrand the property as One Rodeo, as well as upgrade and …

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Marketplace-del-Rio_Oceanside-Calif
CaliforniaGrocery-anchoredInvestment salesNews

Cushman & Wakefield Brokers $56.6 Million Sale of Marketplace del Rio in Southern California

by Hayden Spiess

Oceanside, Calif. — Cushman & Wakefield has brokered the $56.6 million sale of Marketplace del Rio, a 183,292-square-foot shopping center located in Oceanside. Stater Bros. Markets anchors the property, which recently underwent extensive renovations. Jimmy Slusher, James Tyrell and Preston Fetrow of CBRE represented the seller, ROIC, in the transaction. A California-based private investor acquired the property. Phil Lyons and Chad Iafrate of Cushman & Wakefield represented the buyer. 

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CaliforniaInvestment salesNews

Kennedy Wilson Brokers $2.2 Million Sale of Retail Building in Los Angeles

by Hayden Spiess

Los Angeles — Kennedy Wilson Brokerage, a division of Kennedy-Wilson Properties, has brokered the $2.2 million sale of a retail building located on Melrose Avenue in Los Angeles. Tenants at the property, which comprises 2,933 square feet, include jeweler The Great Frog. Ed Sachse, Jaysen Chiaramonte and Jack Nathan of Kennedy Wilson represented the seller, Quiet Lion, in the transaction. This marks the final property to be sold within a three-property Melrose Avenue portfolio. In total, Quiet Lion garnered $9 million from the portfolio sales. 

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CaliforniaFinanceNews

Majestic Realty Co. Receives $12.6 Million Refinancing for Two Shopping Centers in Walnut, California

by Hayden Spiess

Walnut, Calif. — Majestic Realty Co. Capital Markets has completed the refinancing of two shopping centers located in Walnut, approximately 30 miles outside Los Angeles. PGIM Real Estate provided a $12.6 million loan for Snow Creek Village West Shopping Center and retired the existing debt on Snow Creek Village East Shopping Center.  Developed by Majestic Realty Co. affiliates, the properties comprise a total 128,922 square feet of retail space. Current tenants at the centers include T.J. Maxx, HomeGoods, Aldi, Panera Bread, McDonalds, Starbucks Coffee and Applebee’s Grill + Bar.

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