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CaliforniaInvestment salesNews

Hanley Brokers $4.1 Million Sale of Retail Pad in Modesto, California

by Hayden Spiess

Modesto, Calif. — Hanley Investment Group Real Estate Advisors has brokered the $4.1 million sale of a retail pad building located in Modesto. Built in 2018 and situated within a Save Mart-anchored shopping center, the multi-tenant building totals 6,402 square feet. Tenants at the property include Pacific Dental Services, Mountain Mike’s Pizza and West Coast Sourdough Deli. Jeff Lefko and Bill Asher of Hanley represented the seller, Covenant Real Estate Group, in the transaction. A California-based buyer acquired the property. 

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Village-Center_Fountain-Valley-Calif
CaliforniaFinanceGrocery-anchoredNews

Gantry Secures $17 Million Refinancing for Retail Center in Fountain Valley, California

by Hayden Spiess

Fountain Valley, Calif. — Gantry has secured a $17 million permanent loan for the refinancing of Village Center, a 93,000-square-foot retail center located in Fountain Valley. Sprouts Farmers Market, Rite Aid and Dollar Tree anchor the property. Braden Turnbull, George Mitsanas and Austin Ridge of Gantry arranged the five-year, fixed-rate financing on behalf of the borrower, Paragon Commercial Group. 

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Vans_Long-Beach-Calif
CaliforniaInvestment salesNet leaseNews

SRS Brokers $4.3 Million Sale of Single-Tenant Property in Long Beach, California

by Hayden Spiess

Long Beach, Calif. — SRS Real Estate Partners’ National Net Lease Group has brokered the $4.3 million sale of a single-tenant property located in Long Beach. Vans occupies the 3,749-square-foot building, which was built in 1926, on a triple-net-lease basis. Chris Tramontano and John Redfield of SRS represented the seller. Nathan Holthouser of Coastal Commercial Inc. represented the buyer. 

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Canyon-Springs-Marketplace_Riverside-Calif
CaliforniaLeasingNews

Three Tenants Sign Leases Totaling 24,220 Square Feet at Canyon Springs Marketplace in Riverside, California

by Hayden Spiess

Riverside, Calif. — Three tenants have signed leases totaling 24,220 square feet at Canyon Springs Marketplace in Riverside, bringing the property to 100 percent occupancy. Sephora and Urbane Café recently opened at the 183,000-square-foot center, occupying 4,320 and 1,600 square feet, respectively. Boot Barn has also signed a lease at the property and will open an 18,300-square-foot store this fall. Brad Umansky and Albert Lopez of Progressive Real Estate Partners represented the landlord, TDA Investment Property, in the leasing negotiations. 

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CaliforniaDevelopmentLeasingMixed-useNews

Circle K Signs 3,700-Square-Foot Lease at University Square Project in Rocklin, California

by Hayden Spiess

Rocklin, Calif. — Circle K has signed a 3,700-square-foot lease at University Square, a 10-acre mixed-use development currently underway in Rocklin. Upon completion, the convenience store and gas station will be situated on a site featuring more than 20,000 square feet of retail space and 5,000 square feet of space for quick-service restaurants. LRE & Cos. is the developer and landlord, and the development is scheduled for completion in late 2025. 

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Red-Lobster_Fremont-Calif
CaliforniaFinanceInvestment salesNewsRestaurants

Marcus & Millichap Secures $4.6 Million Acquisition Financing for Single-Tenant Property in Fremont, California

by Hayden Spiess

Fremont, Calif. — Marcus & Millichap Capital Corp. has secured a $4.6 million loan for the acquisition of a single-tenant retail property located in Fremont. Ron Balys of Marcus & Millichap arranged the 10-year financing on behalf of the undisclosed borrower. Red Lobster occupies the property.

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King's-Fish-House_Carlsbad-Calif
CaliforniaInvestment salesNewsRestaurants

CBRE Brokers $23.5 Million Sale of Three Restaurant Properties in Carlsbad, California

by Hayden Spiess

Carlsbad, Calif. — CBRE has brokered the $23.5 million sale of three restaurant properties located in Carlsbad. Reg Kobzi, Michael Peterson, Joel Wilson, Philip Voorhees, Megan Lanni and Eric Shain of CBRE represented the seller, CPT/SC Title Holding Corp., in the disposition of the properties to separate buyers. Creekside Shops LLC purchased a 10,262-square-foot building leased to King’s Fish House at 5625 Paseo Del Norte for $10.3 million. An undisclosed buyer purchased a 7,166-square-foot P.F Chang’s located at 5621 Paseo Del Norte for $5.7 million. K Ishii Manhattan Ave LLC acquired a 10,470-square-foot BJ’s Restaurant …

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Westfield-Mission-Valley-2
CaliforniaInvestment salesNews

Unibail-Rodamco-Westfield Sells 1.1 Million-Square-Foot Westfield Mission Valley Shopping Center in San Diego for $290 Million

by Hayden Spiess

San Diego — French investor Unibail-Rodamco-Westfield (URW) has sold Westfield Mission Valley, a 1.1-million-square-foot retail center in San Diego, for $290 million. The center was developed on two parcels of property; URW sold the eastern portion to Lowe and Real Capital Solutions, while Sunbelt Investment Holdings Inc. bought the smaller western parcel. The Westfield Mission Valley shopping mall, the eastern part of the property, was originally built in 1960 on a 41-acre site. The center currently offers 73 shops, including Target, Nordstrom Rack, Macy’s Home, Michael’s, Bloomingdale’s Outlet and a 24-Hour Fitness, as well …

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Cinépolis_Inglewood-Calif
CaliforniaDevelopmentEntertainmentLeasingNews

Cinépolis to Open 55,137-Square-Foot Theater in Inglewood, California

by Hayden Spiess

Inglewood, Calif. — Cinépolis Luxury Cinemas will open a 55,137-square-foot theater at Hollywood Park, a mixed-use development currently underway in Inglewood. Scheduled to open this month and dubbed Cinépolis Luxury Cinemas Inglewood IMAX, the space will feature 12 screens and 1,236 seats. 

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Club-Studio
CaliforniaLeasingNews

Club Studio to Open 48,000-Square-Foot Fitness Studio in Santa Monica, California

by Hayden Spiess

Santa Monica, Calif. — Fitness concept Club Studio will open a 48,000-square-foot studio at Santa Monica Place, a Macerich property in Santa Monica. Located on the first level of the property, the space will feature five boutique studio rooms, as well as a recovery space, steam rooms, infrared saunas, a juice bar and retail store. A timeline for the opening was not disclosed. 

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