California

Diamond Bar, Calif. — Hanley Investment Group Real Estate Advisors and Oaks Commercial Real Estate has arranged the $4.8 million sale of a multi-tenant retail pad property in Diamond Bar, roughly 27 miles east of downtown Los Angeles. Built in 2016, the 4,767-square-foot building is fully leased to three tenants: Jimmy John’s, Crumbl Cookies and Starbucks Coffee. Bill Asher and Jeff Lefko of Hanley, along with Fred Encinas of Oaks Commercial Real Estate, represented the seller, a Las Vegas-based private partnership, in the transaction. Arman Mahmoodi of BeachRock Group represented …

Oakley, Calif. — Newport Beach, California-based RealSource Group has negotiated the sale of a single-tenant retail property located in Oakley. A 7-Eleven convenience store occupies the 3,795-square-foot building on a triple-net ground lease basis, which has more than nine years remaining on its initial 15-year term. Built in 2019, the property sits on nearly 1.3 acres and is situated adjacent to a McDonald’s and Quick Quack Car Wash. Jonathan Schiffer and Austin Blodgett of RealSource Group represented the seller, California Capital & Investment Group. The buyer, 7-Eleven, Inc., purchased the store …

Palm Desert, Calif. — Irvine, California-based Faris Lee Investments has brokered the $6.1 million sale of a two-tenant retail property located at the corner of Highway 111 and Fred Waring Drive in Palm Desert. SchoolsFirst Federal Credit Union and T-Mobile occupy the 7,400-square-foot building. Chris DePierro, Jeff Conover, Don MacLellan, Scott DeYoung and Greg Lukosky of Faris Lee represented the seller, Sage Investments, in the transaction. The all-cash, 1031 exchange buyer was a Southern California-based private investor. This deal marks the 25th property Faris Lee Investments has sold in the Palm …

Stockton, Calif. — Family-owned real estate platform Mershops has acquired Weberstown Mall, an 800,000-square-foot regional shopping center located in Stockton, for $50.8 million. Originally opened in 1966, the center is anchored by JCPenney, Dillard’s and Barnes & Noble. Other tenants include Old Navy, Five Below, BoxLunch, Foot Locker, Lids, Victoria’s Secret and Journeys. Steerpoint Capital brokered the sale on behalf of Mershops. The seller was Washington Prime Group. This transaction marks Mershops’ sixth enclosed shopping center acquisition across California and Nevada. Mershops’ current portfolio includes North County Mall in Escondido, California; …

Fresno, Calif. — Hanley Investment Group Real Estate Advisors has arranged the $4.6 million sale of a 7,052-square-foot multi-tenant retail pad located at 6770 North Brawley Ave. in Fresno. A Dutch Bros Coffee drive-thru anchors the property, which is situated within the River Oak Plaza shopping center. Built in 2019 on 1.3 acres, the building is fully leased to four additional tenants including West Coast Sourdough, WaBa Grill, Sport Clips and Organic Nails & Spa. Sean Cox and Bill Asher of Hanley represented the seller, California Gold Development Corp., in the …

Anaheim, Calif. — Encinitas, California-based Vista Emerald has acquired Pique at Angel Stadium, a 15,710-square-foot multi-tenant retail center located in Anaheim, for $11.3 million. Formerly known as The Shops at Stadium Towers, the property was originally built in 2006 on 2.2 acres. The center was fully leased to eight tenants including 714 Tickets, Aleppo’s Kitchen, Comerica Bank, LAMILL Coffee, Lolas by MFK and Non’s Vietnamese Kitchen at the time of sale, according to LoopNet. The property also offers 150 parking spaces, 16 Tesla Superchargers and prominent pylon street signage. Lee …

Fresno, Calif. — Progressive Real Estate Partners has arranged the $6.7 million sale of Peppertree Plaza, a 51,000-square-foot shopping center located in Fresno. Situated at the intersection of West Shaw and Marks Avenues, the center spans five buildings and was 87 percent leased at the time of sale. Tenants include Outback Steakhouse, Deli-Delicious, Marian’s Mexican Restaurant, Pijja Paradise Pizza & Arcade, Ocean Dental Group, FastSigns and the State Bank of India. Greg Bedell of Progressive represented the seller, a private investor based in the Bay Area. The all-cash buyer was …