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Fig Garden Village
CaliforniaInvestment salesNews

CenterCal, DRA Advisors Acquire Fig Garden Village in Fresno, California

by Abby Cox

Fresno, Calif. — A partnership between CenterCal Properties and DRA Advisors has acquired Fig Garden Village, a 300,000-square-foot lifestyle center located in Fresno. Originally developed in 1956 as part of the historic Fig Garden residential area, the center serves as a retail anchor for the broader Central California market. Tenants at the property include Pottery Barn, Williams Sonoma, Banana Republic, lululemon, Whole Foods Market, Anthropologie, Madewell and Paper Source. The center was previously owned by Brookfield Properties.

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Torrey Hills Center
CaliforniaFinanceGrocery-anchoredNews

JLL Arranges $27.6 Million Refinancing for Torrey Hills Center in San Diego

by Abby Cox

San Diego, Calif. — JLL Capital Markets has arranged a $27.6 million loan to refinance Torrey Hills Center, an 86,467-square-foot retail center located in the Carmel Valley neighborhood of San Diego. Vons Market anchors the center. Originally built in 2005, the property is 98.4 percent leased to a mix of 26 tenants including Orangetheory Fitness, Starbucks Coffee, Wells Fargo and JETSET Pilates. Greg Brown, John Marshall, Spencer Seibring and Allie Black of JLL’s Debt Advisory team represented the borrower, a national real estate investment and management firm, in arranging the …

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Starbucks Coffee
CaliforniaInvestment salesLeasingNews

Hanley Investment Arranges $2.9 Million Sale of Single-Tenant Retail Property in Riverside, California

by Abby Cox

Riverside, Calif. — Hanley Investment Group Real Estate Advisors has arranged the $2.9 million sale of a newly constructed, 928-square-foot single-tenant retail property located in Riverside. Starbucks Coffee occupies the building on a 10-year, triple-net-lease with scheduled rent increases every five years. Situated on 0.96 acres, the building features a drive-thru and walk-up window. Eric Wohl and CJ Kiehler of Hanley Investment Group represented the seller, Atman Kadakia of Greens Group, in the transaction. Sam Olmstead of Voit Real Estate Services represented the 1031 exchange buyer, a Southern California-based private …

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Skechers-Manhattan-Beach-Flagship-Store
CaliforniaCompany newsNew YorkNews

3G Capital Agrees to Acquire Skechers for $9.4 Billion, Take Company Private

by Abby Cox

Manhattan Beach, Calif. and New York City — Global investment firm 3G Capital has entered into an agreement to acquire footwear brand and retailer Skechers USA Inc. The sales price is $9.4 billion, according to The Wall Street Journal. Upon completion of the transaction, Skechers will become a privately held company. New York City-based private equity firm 3G will pay $63 per share in cash, representing a premium of 30 percent to Skechers’ 15-day, volume-weighted average stock price. The transaction also includes the option for existing shareholders of Skechers to instead receive $57 …

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Juanita Tate Marketplace
CaliforniaFinanceNews

JLL Arranges $21.5 Million Refinancing for Juanita Tate Marketplace in Los Angeles

by Abby Cox

Los Angeles — JLL Capital Markets has arranged a $21.5 million loan to refinance Juanita Tate Marketplace, a 77,096-square-foot retail center located in Los Angeles. Northgate Market anchors the fully leased center. Additional tenants at the property include CVS Pharmacy, Panda Express, Starbucks Coffee and Chase Bank. Alex Olson and Daniel Skerrett of JLL’s Debt Advisory team represented the borrower, Optimus Properties LLC, in arranging the five-year loan through institutional investors advised by J.P. Morgan Asset Management.

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Market Lofts
CaliforniaGrocery-anchoredInvestment salesNews

Hanley, SRS Arrange $20.9 Million Sale of Retail Anchor at Mixed-Use Development in Los Angeles

by Abby Cox

Los Angeles — A partnership between Hanley Investment Group Real Estate Advisors and SRS Real Estate Partners has arranged the $20.9 million sale of the retail component at Market Lofts in downtown Los Angeles. The retail portion of the project is anchored by a 49,489-square-foot Ralphs grocery store located on the ground floor. Completed in 2007, Market Lofts features 267 condominiums with 54,948 square feet of total ground-floor retail space. Along with Ralphs, the retail portion of the property is leased to six additional tenants including The UPS Store, Supercuts, …

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CaliforniaLeasingNews

South Coast Plaza Signs 21 New Tenants

by Abby Cox

Costa Mesa, Calif. — South Coast Plaza, a 2.8 million-square-foot super-regional mall located in Costa Mesa, has signed 21 new leases to join its tenant lineup this year. Dior Beauty’s West Coast flagship store has already opened at the center, along with Eres, Ramen Nagi, Vox Kitchen and a new Tiffany & Co. pop-up store. Other retailers that will open later this spring include Ami Paris; Eleventy; Guerlain; Gianvito Rossi; Montcler; Roger Vivier; Sandro; and See’s Candies. Alo; Skims; Bottega Veneta; Camilla; Club Monaco; Crate & Barrel; MaxMara; and Tumi …

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Jack in the Box
CaliforniaCompany newsNews

Jack in the Box to Close Up to 200 Stores, Company to Explore Sale of Del Taco

by Abby Cox

San Diego — Jack in the Box Inc. has announced plans to improve its long-term financial performance across its restaurant system, which includes the closure of 150 to 200 underperforming Jack in the Box restaurants, as well as possible alternatives for its Del Taco brand, which it acquired in March 2022. Jack in the Box will implement a block closure program, which will comprise of approximately 80 to 120 restaurant closures between now and December 31, with the remaining underperforming restaurants closing thereafter, based upon franchise agreement termination dates. San …

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Harbor Freight Tools
CaliforniaInvestment salesLeasingNews

Avison Young Arranges $2.2 Million Sale of Retail Property in Hemet, California

by Abby Cox

Hemet, Calif. — Avison Young has negotiated the $2.2 million sale of a single-tenant retail property located at 1735 W. Florida Ave. in Hemet. Harbor Freight Tools occupies the 20,571-square-foot building, which was renovated in 2023. The tenant has approximately 11 years remaining on its absolute triple net lease. Chris Maling and David Maling of Avison Young represented the seller, a California-based limited partnership, in the transaction. The buyer was a California-based private investor.

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North Euclid Shopping Center
CaliforniaGrocery-anchoredInvestment salesNews

Hanley Investment Group Facilitates $12.6 Million Sale of Shopping Center in Fullerton, California

by Abby Cox

Fullerton, Calif. — Hanley Investment Group Real Estate Advisors has facilitated the $12.6 million sale of North Euclid Shopping Center, a 41,219-square-foot shopping center located in the Orange County city of Fullerton. A 21,480-square-foot Stater Bros. Markets formerly anchored the property. The remaining space is fully leased to a barber shop, hair salon, family dentist, chiropractic office, H&R Block and multiple quick-service restaurants. Kevin Fryman, Eric Wohl and Ed Hanley of Hanley Investment represented the seller, Anaheim, California-based Kraemer Land Co., and the buyer, an off-market local private investor, in the …

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