California

Shops-III-Anatolia-Marketplace

Rancho Cordova, Calif. — Hanley Investment Group Real Estate Advisors has arranged the $4.8 million sale of Shops III at Anatolia Marketplace, a multi-tenant retail pad in Rancho Cordova, roughly 13 miles outside Sacramento. Tenants at the property, which totals 5,900 square feet, include Popeyes Louisiana Kitchen, Cold Stone Creamery, Jamba and Capriotti’s Sandwich Shop. Bill Asher and Jeff Lefko of Hanley represented the seller, an entity doing business as Anatolia Marketplace LLC. Craig Lewis of Lewis Capital Advisors represented the buyer, a local private investor. 

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Erewhon

Glendale, Calif. — Erewhon will open a new, 18,000-square-foot store next year in Glendale. The grocer has purchased a 24,000-square-foot former Virgil’s Hardware Home Center and will lease the additional space to complementary tenants. Plans for the property include a remodel of the building façade, upgrades to the utilities and enhancements to the landscaping and outdoor seating. Virgil’s vacated the site, which has remained vacant since the departure, in 2019. 

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Chesapeake, Va. — Dollar Tree Inc. has acquired designation rights for 170 leases of 99 Cents Only Stores, following the latter’s Chapter 11 bankruptcy filing. 99 Cents Only Stores filed for bankruptcy in April and is disposing of its assets — including inventory, owned real estate and store leases — as part of the process. Dollar Tree acquired the leases, as well as the North American intellectual property of 99 Cents and select onsite furniture, fixtures and equipment, in two separate transactions this month. “This was an attractive opportunity to secure …

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Fifth-and-Penn_San-Diego

San Diego — Marcus & Millichap has brokered the sale of Fifth and Penn, a 2,867-square-foot mixed-use property located in San Diego. Built in 1931, the property comprises retail, office and residential space. Ross Sanchez and Nick Totah of Marcus & Millichap represented the seller, Tom Fine, in the transaction. Daniel Heimler of DAH Penn LLC acquired the property for an undisclosed price. 

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San Diego — Simon has announced plans for the development of a new mixed-use project at its Fashion Valley shopping center in San Diego. Upon completion, the redevelopment project will add 100,000 square feet of new retail space to the center, as well as new restaurants and an 850-unit AMLI branded apartment community. Construction is scheduled to begin in late 2025, with completion anticipated in late 2026. Fashion Valley recently underwent a multimillion-dollar capital improvement program and added brands Dior, Bottega Veneta, David Yurman and Dolce & Gabbana. New tenants Celine, …

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Magnolia-Towne-Center_Riverside-Calif

Riverside, Calif. — Gantry has secured a $17 million loan for the refinancing of Magnolia Towne Center, a retail center located in Riverside. Tenants at the property, which totals 133,000 square feet, include Ralph’s and Wells Fargo. Strategic Real Estate Advisors (SRA) is currently negotiating 27,000 square feet of leases at the property on behalf of the ownership. James Ruiz of Gantry arranged the 10-year, fixed-rate financing through a life insurance company on behalf of the borrower. 

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10912-Katella-Ave_Garden-Grove-Calif

Garden Grove, Calif. — Strategic Retail Advisors (SRA) has brokered the $18 million sale of a retail building located in Garden Grove. The property totals 46,287 square feet. OC Freedomhouse Church acquired the building, which formerly housed a Walmart Neighborhood Market, from a private investor. Blaine Bush of SRA arranged the transaction. 

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105-E-Dorset-Dr-Dixon-CA

Dixon, Calif. — Marcus & Millichap has arranged the sale of a retail building located in Dixon, roughly 25 miles southwest of Sacramento. The multi-tenant property comprises 13,132 square feet of space. A private investor acquired the building from another private investor for $3.6 million. Michael Grandstaff and Christopher Hund of Marcus & Millichap represented the seller and procured the buyer in the transaction.

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2145-Market_San-Francisco

San Francisco — JLL Capital Markets has arranged the $9.4 million sale of 2145 Market Street, a 29,762-square-foot retail center located in San Francisco. Pacific Capital acquired the property from an undisclosed seller. The center, which comprises a two-story building, was fully leased at the time of sale to tenants Walgreens and Live Fit Gym. Eric Kathrein, Warren McClean, Andrew Spangenberg and Jen Mistretta of JLL represented the seller in the transaction. 

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