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CaliforniaDevelopmentEntertainmentLeasingMixed-useNews

Three Tenants Sign Leases Totaling 128,500 Square Feet at Hollywood Park Near Los Angeles

by Hayden Spiess

Inglewood, Calif. — Three new tenants have signed leases totaling 128,500 square feet at Hollywood Park, a mixed-use development currently underway in Inglewood, approximately 13 miles outside downtown Los Angeles. JD Sports and Iconix Fitness will occupy 7,500 and 56,000 square feet, respectively, beginning this summer. Cosm will also open a 65,000-square-foot experiential venue at the property this summer. Upon completion, Hollywood Park — which is being developed by Los Angeles Rams Owner and Chairman E. Stanley Kroenke — will feature up to 890,000 square feet of retail space, as well …

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728-W-Vernon-Ave_Los-Angeles
CaliforniaInvestment salesNews

Progressive Negotiates Sale of 6,300-Square-Foot Retail Center in Los Angeles

by Hayden Spiess

Los Angeles — Progressive Real Estate Partners has negotiated the sale of a 6,300-square-foot retail center located at 728 W. Vernon Ave. in Los Angeles. A Los Angeles County-based investor acquired the three-tenant property from the seller, also based in Los Angeles County, for $3.5 million. Tenants at the center include 7-Eleven, Boost Mobile and a laundromat. Brad Umansky and Lance Mordachini of Progressive represented both parties in the transaction. 

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CaliforniaFinanceGeorgiaNews

BWE Arranges $40.2 Million Financing for Four California Properties 

by Hayden Spiess

Columbus, Ohio — Ohio-based BWE has arranged loans totaling $40.2 million for four properties located in California. The deals included a $12.3 million bridge loan for the acquisition and redevelopment of a retail property located in Rancho Palos Verdes. The property, which was 67 percent preleased at the time of financing, is anchored by O’Reilly Auto Parts. Other tenants include Habit Burger, Mattress Firm, Urbane Café and California Fish Grill. Mike Guterman of BWE secured the financing through Calmwater Capital on behalf of the borrower, West Hive Capital.  BWE also secured …

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The-Abbey-West-Hollywood-CA
CaliforniaInvestment salesNews

Marcus & Millichap Arranges $27 Million Sale of Two Retail Properties in West Hollywood, California

by Hayden Spiess

West Hollywood, Calif. — Marcus & Millichap has arranged the $27 million sale of The Abbey Food & Bar and The Chapel at The Abbey, two retail properties located in West Hollywood. Tristan Schukraft acquired the properties, which are situated on neighboring parcels, from David Cooley. Brandon Michaels and Matthew Luchs of Marcus & Millichap represented the seller and procured the buyer in the deal. The previous ownership transformed a small coffee shop into The Abbey Food & Bar — now a well-known bar, restaurant and event venue — and opened …

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CaliforniaEntertainmentNews

Topgolf to Open 70,000-Square-Foot Venue Near Los Angeles

by Hayden Spiess

Montebello, Calif. — Topgolf will open a new, 70,000-square-foot venue in Montebello, approximately 10 miles outside downtown Los Angeles. Upon completion, the facility will feature 102 outdoor climate-controlled hitting bays across three levels, as well as a full-service restaurant, 200 televisions, a 28-foot video wall, outdoor patio, rooftop terrace and private event rooms. Scheduled to open in May, this will mark the third Topgolf venue to be located in the Los Angeles metro. 

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CaliforniaLeasingNews

Bella Boutique Signs 1,500-Square-Foot Lease at East Washington Place in Metro San Francisco

by Hayden Spiess

Petaluma, Calif. — Clothing, jewelry, home décor and gift boutique Bella has signed a 1,500-square-foot lease at East Washington Place, a shopping center located in Petaluma, roughly 40 miles outside San Francisco. Other tenants at the property — which totals 343,000 square feet — include Dick’s Sporting Goods, Chipotle Mexican Grill, HomeGoods, Ulta Beauty, Target, T.J. Maxx and BevMo!

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CaliforniaFinanceInvestment salesNews

PSRS Arranges $54 Million Acquisition Financing for Retail Center in Oxnard, California

by Hayden Spiess

Oxnard, Calif. — PSRS has arranged $54 million in financing for the acquisition of Esplanade Shopping Center, a 357,000-square-foot shopping center in Oxnard. Kostas Kavayiotidis, Mike Davis and Matthew Farzinpour of PSRS secured the seven-year loan, including four years of interest-only payments, on behalf of the buyer through a life insurance company. Walmart, The Home Depot, T.J. Maxx, Nordstrom Rack, Bob’s Discount Furniture, Dick’s Sporting Goods, In-N-Out Burger, Chipotle Mexican Grill and BJ’s Restaurant anchor the property. 

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Rancho Las Palmas
CaliforniaGrocery-anchoredInvestment salesNews

Albanese Cormier Acquires 162,380-Square-Foot Retail Center in Southern California

by Hayden Spiess

Rancho Mirage, Calif. — Albanese Cormier has acquired Rancho Las Palmas, a 162,380-square-foot retail center located in Rancho Mirage. Amazon Fresh, In-N-Out Burger, CVS/pharmacy, Hobby Lobby, Starbucks Coffee and Wells Fargo anchor the property, which was originally built in 1980. The center was extensively renovated in 2016 and 2022. Bryan Ley of JLL Capital Markets represented the undisclosed seller in the transaction. 

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CaliforniaInvestment salesNews

Pacific Petroleum Acquires Retail Center in Corona, California for $7.8 Million

by Hayden Spiess

Corona, Calif. — Pacific Petroleum Inc. has acquired Main Street Village Center, a retail center in Corona, for $7.8 million. The property features 20,000 square feet of retail space. Alan Krueger and Vanessa Haddad of CBRE represented Pacific Petroleum and the seller, LJZ Corona LLC, in the deal.

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CaliforniaInvestment salesMixed-useNews

Faris Lee, SSG Realty Corp. Arrange $4.4 Million Sale of Mixed-Use Property in Newport Beach, California

by Hayden Spiess

Newport Beach, Calif. — Faris Lee Investments and SSG Realty Corp. have arranged the $4.4 million sale of a mixed-use property located on Newport Beach’s Balboa Island. Jeff Conover, Shaun Riley, Scott DeYoung and Greg Lukosky of Faris Lee Investments, with Greg Swedelson and Jon-Eric Greene of SSG Realty Corp., represented the undisclosed buyer and seller in the transaction. Situated on two separate parcels, the property features storefront retail with two second-floor residential units. Two street-level retail shops and two residential tenants currently occupy the property. 

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