Inglewood, Calif. — Hanley Investment Group Real Estate Advisors has brokered the $4.2 million sale of a retail center located in Inglewood. Dollar General anchors the 12,750-square-foot property, which was built in 1961 and renovated in 2004. Kevin Fryman, Carlos Lopez, Sean Cox and Alexander Moore of Hanley represented the seller, a Los Angeles-based private investor. Robert Toofer of Exclusive Realty represented the buyer.
Culver City, Calif. — Four new tenants have signed leases at The Culver Steps, a 120,000-square-foot mixed-use development located in Culver City, roughly 11 miles outside Los Angeles. Skincare concept Formula Fig has opened a 2,000-square-foot store at the property, and Yunomi Handroll has opened a 2,500-square-foot restaurant. Restaurants AFURI Ramen and Laurel Grill have also signed leases at the development and will occupy 2,600 and 7,500 square feet, respectively. AFURI Ramen is scheduled to open this month, and Laurel Grill will open next year.
Santa Ana, Calif. — Tabani Group has acquired Bristol Marketplace, a 107,687-square-foot retail center located in Santa Ana, for $16.7 million. A two-story, 99,751-square-foot space formerly occupied by Kohl’s and adjacent shop space occupy the property. Gleb Lvovich, Daniel Tyner, Geoff Tranchina and Conor Quinn of JLL Capital Markets Investment Sales Advisory represented the seller in the deal.
Auburn, Calif. — Gantry has secured a $9.6 million permanent loan for the acquisition of The Plaza, a retail center located in the Sacramento suburb of Auburn. Situated on 3.4 acres, the property comprises 74,000 square feet of retail space. Tenants at the center include Best Buy, Mel’s Original Diner, Little Caesars Plaza, Mattress Firm, Sola Salon Studios, Garden of Eat’n, Lyon Real Estate, Miracle Ear, Salon Centric and T-Mobile. Tony Kaufmann and Erinn Cooke of Gantry secured the financing on behalf of the borrower, a private real estate company. A …
Long Beach, Calif. — Three new tenants have signed leases totaling 9,200 square feet at 2ND & PCH, a retail center located in Long Beach. Rumble Boxing is scheduled to open a fitness studio on the ground level of the center early next year, and Vuori Clothing and Telefèric Barcelona will also occupy space on the ground level. Additionally, Penelope Pots has reopened at the property. CenterCal Properties is the landlord.
Palm Desert, Calif. — Hanley Investment Group Real Estate Advisors has arranged the $3.9 million sale of a retail pad located in Palm Desert. Built in 2008, the property comprises 8,500 square feet across four tenant spaces. Chipotle Mexican Grill anchors the pad, and other tenants include Cornerstone Pharmacy and Luxury Nails & Spa. Bill Asher and Jeff Lefko of Hanley represented the seller in the transaction. Omar Hussein of Beacon Realty Advisors represented the buyer.
Los Angeles and New York City — Apparel retailer BOGNER has opened two stores in Los Angeles and New York City, marking the first locations in the country for the German brand. Located on Madison Avenue, the New York City store comprises 3,400 square feet, and the Los Angeles store occupies 2,500 square feet on the Sunset Strip.
Mammoth Lakes, Calif. — PSRS has arranged a $3.7 million loan for the refinancing of Mammoth Gateway, a retail center in Mammoth Lakes. Rite Aid anchors the property, which totals 54,854 square feet. Built in 1973 on 3.5 acres, the center features 13 retail spaces. Grady Seldin and Thomas Rudinsky of PSRS secured the 10-year, fixed-rate financing on behalf of the undisclosed borrower.
Camp Hill, Pa. — A&G Real Estate Partners will market 79 Rite Aid store leases for sale, in its capacity as real estate advisor to the company, pending approval by the U.S. Bankruptcy Court for the District of New Jersey. Part of Rite Aid’s financial restructuring process, this marks the third tranche of leases to be sold and follows a set of 92 store leases that became available in November. Ranging from 5,502 to 31,468 square feet, the leases are located in 11 states, including California, Connecticut, Maryland, Michigan, New Jersey, …
Newport Beach, Calif. — California-based Mountain Mike’s Pizza has signed a franchise deal for the development of 10 restaurants in Washington, marking the brand’s entrance into the state. Locations will include Arlington, Bellevue, Bellingham, Burlington, Kirkland, Lake Stevens, Lynwood, Marysville, Mill Creek, Northgate and Redmond, with the first opening scheduled for next year. Franchisees Gurjot and Yashraj Thind will develop and operate the restaurants.
