Rancho Cucamonga, Calif. — Progressive Real Estate Partners has brokered the $4.9 million sale of a 16,560-square-foot single-tenant property located in Rancho Cucamonga. Dollar Tree occupies the building on a triple-net-lease basis. Brad Umansky, Greg Bedell and Lance Mordachini of Progressive arranged the sale on behalf of the seller, Red Mountain Group. Katherine Quach and Wendy Wong of Treelane Realty Group represented the buyer, a private investor.
Los Angeles — Gantry has arranged a $21.6 million loan for the development of a grocery-anchored retail project in Los Angeles. Upon completion, the project will comprise 33,700 square feet. Braden Turnbull, George Mitsanas and Austin Ridge of Gantry arranged the five-year financing, which one of the firm’s correspondent lenders provided, on behalf of the undisclosed borrower.
Moon Bay, Calif. — Matthews Real Estate Investment Services has arranged the sale of Strawflower Village Shopping Center, a 78,940-square-foot retail center located in Moon Bay, approximately 30 miles south of San Francisco. A 33,000-square-foot Safeway anchors the center, which was 96 percent leased at the time of sale. Other tenants include T-Mobile, Chase Bank and US Bank. SJ Amoroso Properties Co. acquired the property from HMB Musich LLC for $34 million. Marko Buljan of Matthews represented the seller in the transaction. Tim Gilmartin of The Gilmartin Group represented the buyer.
Hollywood, Calif. — DJM and Gaw Capital USA have opened Ovation Hollywood, a newly redeveloped, 475,000-square-foot retail center located in Hollywood. The partnership completed a three-year, $100 million renovation of the property, which was previously known as Hollywood & Highland. Redevelopments at the center began in 2020 and have included design by Gensler. New tenants at the property include Café de Leche, Tacos Neza, a Kylie Cosmetics pop-up shop, The Win-Dow, BOPOMOFO. The fourth level of the center has been converted into entertainment space and will feature comedy club Kookaburra Lounge.
Jericho, N.Y. — Kimco Realty has signed leases totaling 50,133 square feet with 15 new tenants at 12 of its shopping centers located throughout the Bay Area in California. Round Table Pizza and The Best Sandwiches now occupy 1,425 and 1,376 square feet, respectively, at Stevens Creek Central in San Jose. Viewpoint Interiors has opened a 1,100-square-foot store at Lakewood Village in Windsor, and Wingstop has opened a 1,560-square restaurant at Fulton Marketplace in Santa Rosa. In San Leadro, Removery has occupied an 1,800-square-foot space next to Foot Locker at Fashion Faire …
San Rafael, Calif. — JLL Capital Markets has negotiated the $3.3 million sale of a single-tenant building located in San Rafael, roughly 20 miles outside San Francisco. El Pollo Loco, a fast-casual restaurant chain, occupies the 2,626-square-foot building on a triple-net-lease basis, with 13 years remaining on the lease. Eric Kathrein and Warren McClean of JLL brokered the transaction. El Pollo Loco occupies the building in San Rafael, California.
Danville, Calif. — JLL has arranged three leases totaling 53,000 square feet at Blackhawk Plaza, a 250,000-square-foot retail center located in Danville, roughly 30 miles outside San Francisco. Combat Sports Academy, Apple Cinemas and OsteoStrong will occupy 26,000; 26,200; and 1,530 square feet, respectively. The new tenants are scheduled to open at the property in 2024. Other tenants at the center include Gameday VR, Starbunni Arcade and Posh Nail Bar. JLL represented the landlord, Ramanujan Group, in the lease negotiations, as well as Combat Sports Academy. Jeff Badstubner and Justin Choi …
Fresno, Calif. — Graystone Capital Advisors has brokered the $5 million sale of California Plaza, a retail center located in Fresno. Built in 1987, the property comprises 39,170 square feet situated on a 194,182-square-foot parcel. The center was 38 percent leased at the time of sale. Brent Zoller and Brenton Baskin of Graystone represented the seller and procured the buyer.
Huntington Beach, Calif. — Beverage concept Sip Fresh has signed a franchise deal for the development of three new stores in Southern California. Franchisees Brittany, Bryson and Risa Berryman will open the units, which are expected to be located within shopping centers in the Huntington Beach and Newport areas. Sip Fresh stores typically comprise between 400 and 1,400 square feet.
Petaluma, Calif. — Gantry has secured a $9.5 million loan for the refinancing of Plaza North Shopping Center in Petaluma on behalf of an undisclosed borrower. Lola’s Market, CVS/pharmacy, Starbucks Coffee, GNC and Club Pilates anchor the property, which comprises 101,000 square feet. Robert Slatt, Andrew Ferguson and Maria Zwick of Gantry arranged the financing through a life company lender to replace a maturing loan from 2013.
