California

Chino, Calif. — New York-based Brixmor Property Group has acquired Chico Spectrum Towne Center, a 461,269-square-foot grocery-anchored power center located in Chino, for $138 million. Jimmy Slusher, Preston Fetrow, James Tyrrell, Mark Damiani and Shaya Northrup of CBRE represented the seller, MetLife Investment Management, in the transaction. Chino Spectrum Towne Center is 95 percent leased to tenants including Kohl’s, Five Below, Best Buy, Marshalls, BevMo!, Ulta Beauty, Nordstrom Rack and a newly opened H Mart grocery store.

Perris, Calif. — Hanley Investment Group Real Estate Advisors has brokered the $4.8 million sale of a newly constructed, single-tenant retail property located in the Inland Empire city of Perris. A Starbucks café and drive-thru occupies the 2,200-square-foot building on a 10-year triple-net corporate lease with 10 percent rental increases every five years. Bill Asher and Jeff Lefko of Hanley represented the seller and developer, Yellow Rose Ranch LLC, an affiliate of The Lynch Group. Betty Gulezyan of I.D.L. Home represented the buyer, a private investor based in Newport Beach, California. …

San Clemente, Calif. — Faris Lee Investments has arranged the sale of Plaza Pacifica, a 23,679-square-foot neighborhood center located in San Clemente’s South Orange County. An Orange County, California-based family office acquired the property for $21 million. Don MacLellan of Faris Lee represented the undisclosed seller. Plaza Pacifica is shadow anchored by Pavilions, Walmart, Lowe’s Home Improvement and the Hoag Medical Facility.

Victorville, Calif. — Progressive Real Estate Partners has arranged the $6.1 million sale of Victorville Pavilion, a 11,618-square-foot multi-tenant retail property in Victorville, approximately 35 miles northeast of San Bernardino. Built in 2004, Victorville Pavilion was fully occupied at the time of sale to tenants such as T-Mobile, OneMain Financial, Armed Forces Career Center and Joe Orthodontics. Lance Mordachini of Progressive Real Estate Partners represented the seller, a private investor, while Vince Provenzano and Michael Sikorski of Pacific Coast Commercial represented the buyer, San Diego-based private investor, in the transaction.

Placentia, Calif. — SRS Real Estate Partners has arranged the sale of a newly constructed, single-tenant retail property located in Placentia, roughly 35 miles northwest of Los Angeles, for $7.9 million. Chick-Fil-A occupies the 5,525-square-foot, drive-thru building on a new 15-year, triple-net corporate-guaranteed lease. Patrick Luther, Matthew Mousavi and Winston Guest represented the seller, a Southern California-based developer, in the transaction. The buyer was a private investor from Southern California.

Victorville, Calif. — Pacific Coast Commercial has negotiated the sale of a multi-tenant retail property located at 14190 Bear Valley Road in Victorville. The 11,618-square-foot property sold for $6.1 million. Vince Provenzano and Michael Sikorski of Pacific Coast Commercial represented the buyer, while Rick Helmonds and Lance Mordachini of Progressive Real Estate Partners represented the seller in the transaction. Sunflower Bank provided acquisition financing for the deal.

Redding, Calif. — SRS Real Estate Partners has arranged the sale-leaseback of a retail property located at 3055 Shasta View Drive in Redding. North State Grocery sold the property to an undisclosed real estate investment trust for $12.8 million. Holiday Market occupies the 31,222-square-foot building on an absolute triple-net lease with 20 years remaining, including scheduled rent increases and multiple options to renew. The grocery store is part of the Holiday Marketplace that also includes Starbucks Coffee and Quick Quack Car Wash. Alexander Moore of SRS Capital Markets represented the …