California

Port Hueneme, Calif. — JLL Capital Markets has arranged a $29.5 million bridge loan for Oliveira Plaza, a 116,035-square-foot neighborhood retail center located in the Ventura County community of Port Hueneme. The three-year loan will be used to finance a new Sprouts Farmers Market at the property. Greg Brown, Spencer Seibring and Nick Englhard of JLL’s Debt Advisory team secured the loan with a debt fund on behalf of the borrower, Align REI. Originally built in 1975 on 9.3 acres, Oliveira Plaza is 80 percent leased to a mix of …

Morgan Hill, Calif. — Marcus & Millichap has brokered the $8 million sale of a single-tenant retail property located at 18590 Skipper Lane in Morgan Hill. Built in 2021 on a 1.3-acre lot, 7-Eleven occupies the 3,700-square-foot property. Darpan Patel, James Defusto and Dan Yozwiak of Marcus & Millichap represented the seller in the deal. Tony Solomon of Marcus & Millichap served as broker of record in California.

Palm Desert, Calif. — Progressive Real Estate has negotiated the $1.8 million sale of a 5,000-square-foot freestanding retail building located in the Downtown Edge District of Palm Desert. The buyer, a family that owns and operates the neighboring Shiraz Rug Co., acquired the building to expand the store’s operations by an additional 5,000 square feet. Heather Sharp of Progressive arranged the sale.

Glendale, Calif. — Marcus & Millichap has arranged the sale of a vacant retail building located on 2.4 acres at South Central Avenue and Chevy Chase Drive in Glendale. Aria Investments LLC sold the property to the City of Glendale for $24 million. The city plans to develop a park and recreation center on the site, which includes a 33,818-square-foot retail building formerly occupied by JoAnn Fabrics. Sheila Alimadadian of Marcus & Millichap represented the seller and procured the buyer in the deal. Built in 1966 and renovated in 2013, the …

Mountain House, Calif. — Brixton Capital has acquired The Market Mountain House, an 88,872-square-foot neighborhood shopping center located within the master planned community of Mountain House, for $32 million. Situated roughly 50 miles east of San Francisco in San Joaquin County, The Market Mountain House features five buildings and was fully leased at the time of sale. Safeway anchors the property, which features a mix of additional tenants including Starbucks Coffee, The UPS Store, Great Clips, Häagen-Dazs, AappaKadai, Mountain Mike’s Pizza and Sourdough & Co. Shea Properties developed The Market Mountain House …