Riverside, Calif. — Gantry has arranged a $12.8 million permanent loan for the refinancing of a 99,000-square-foot retail property located in Riverside. Stater Bros. Markets, AutoZone and Ross Dress for Less anchor the property, which is situated within the Citrus Landing shopping center. Braden Turnbull, George Mitsanas and Austin Ridge of Gantry secured the five-year financing through a life insurance company on behalf of the borrower.
San Jose, Calif. — Nine new tenants have signed leases at Santana Row, a retail center located in San Jose. Jewelry concept Cast is now open, and retailers New Balance, Evereve, Todd Snyder, [solidcore], Kohler and 7th Avenue have signed leases at the property. Restaurants Suspiro and Fitoor will also open at Santana Row early this year. Federal Realty Investment Trust is the landlord.
San Jose, Calif. — JLL Capital Markets has arranged a $20.5 million loan for the refinancing of Almaden Safeway Center, a 143,452-square-foot retail center in San Jose. Safeway anchors the property, which comprises three buildings situated on 11.6 acres and was fully leased at the time of financing. Other tenants at the center include JoAnn’s Fabrics, McDonald’s, T-Mobile and Savers. Bruce Ganong, Lillian Roos and Matthew Mingrone of JLL secured the ten-year, fixed-rate financing through RGA Reinsurance Co. on behalf of the borrower, Brothers International Holding Corp.
Anaheim, Calif. — The Walt Disney Co. (NYSE: DIS) has proposed a $1.9 billion expansion of its Disneyland Resort and surrounding neighborhood in Anaheim, south of Los Angeles in Orange County. If approved, the various new projects would be carried out within 10 years of the approval date, with the potential for another $600 million in capital investment to follow. The proposal, known as DisneylandForward, calls for new attractions and hotels to be constructed on the west side of Disneyland Drive. In addition, the theme park’s operators are looking to add …
Santa Clara, Calif. — Maven Commercial has brokered the $15.9 million sale of University Shopping Center, a 2.9-acre retail center located in Santa Clara. Safeway anchors the property, which was fully leased at the time of sale. Tenants at the center include Taco Bell, Round Table Pizza and Wicked Chicken. An entity controlled by the Bushnell family sold the property, which is situated next to Santa Clara University, to Bay Properties Inc. Matthew Sheridan, Dominic Morbidelli and Santino DeRose arranged the sale.
Santa Ana, Calif. — Six new tenants have joined MainPlace, a three-story shopping center located in Santa Ana. Eateries Cali Licious Crab and Brews, Yogurt Bear and Delight now occupy 4,899; 253; and 1,031 square feet, respectively. LA Custom Apparel + Accessories and Fiesta Center have also joined the lineup, opening 6,326- and 2,199-square-foot stores. Additionally, a 2,096-square-foot The Hype Makers Market is now open at the center, featuring a collection of individual maker booths with apparel, jewelry, décor, gifts and other products, including items from the Sleeping Cauldron, another retailer …
Imperial Beach, Calif. — Hanley Investment Group Real Estate Advisors has brokered the $5.7 million sale of a single-tenant property located in Imperial Beach, roughly 15 miles outside San Diego. Raising Cane’s Chicken Fingers occupies the building, which is situated on a 0.7-acre pad site. Bill Asher and Jeff Lefko of Hanley represented the developer and seller, an entity doing business as Palm Avenue 111 Partners LLC, in the 1031, all-cash transaction. Scott Ketchum, a Newport Beach-based broker, represented the buyer, a family trust.
Conshohocken, Pa. — IKEA will open four stores featuring its new Plan & Order Point with Pick-Up format. Scheduled to open this year, the stores will be located in Austin, Texas, metro Atlanta and the greater Los Angeles area. Situated within Domain Shopping Center, the Austin store will open this summer and will mark the second IKEA location in the city. Plan & Order Points are “dedicated to kitchen, bedroom and living room projects,” according to the company’s website. The stores feature a smaller layout with no merchandise to be taken …
Pleasanton, Calif. — Gantry has arranged an $8.6 million permanent loan to refinance Oak Hills Shopping Center, located at 5410-5480 Sunol Blvd. in the Bay Area city of Pleasanton. Raley’s grocery, BMO Bank, Mountain Mike’s Pizza, Jim’s Country Restaurant, Gymboree and Brick Fitness are tenants at the 120,000-square-foot retail center. Mitch Zeemont, Tony Kaufmann and Alex Poulos of Gantry arranged the financing for the borrower, a private real estate entity. One of Gantry’s correspondent life company lenders provided the 12-year, fixed-rate loan with a 20-year amortization.
San Diego — NOVO Brazil Brewing Co. has opened an 11,500-square-foot restaurant and sports bar within Mission Valley, a 1.1 million-square-foot open-air shopping center located in San Diego. Situated within a space formerly occupied by Tilted Kilt, the concept features an 8,000-square-foot dining room, 3,500-square-foot outdoor patio, a 40-seat bar and extensive LED video walls for viewing sporting events. Other tenants at Mission Valley include Target, Nordstrom Rack, Macy’s Home, Michael’s, Bloomingdale’s Outlet, 24-Hour Fitness, Yard House, Outback, Buffalo Wild Wings and AMC.
