Thousand Oaks, Calif. — Black Lion has purchased a retail center in Thousand Oaks for $8 million. Whole Foods Market anchors the 23,958-square-foot property, which was 55 percent occupied at the time of acquisition. The buyer plans to implement upgrades including a façade renovation, new roof and parking lot, as well as rebrand the property. Dan Tyner of JLL represented both the buyer and undisclosed seller in the transaction.
Ontario, Calif. — Left Coast Brewing Co. will open a 5,000-square-foot tasting room at The Collection, a 96,000-square-foot development currently underway in Ontario. Scheduled to open in the first quarter of 2024, the outpost will mark the third in the country for the company.
Valencia, Calif. — Centennial has acquired Westfield Valencia Town Center, a 1 million-square-foot shopping mall located in Valencia. Moving forward, the property, which was leased to more than 140 tenants at the time of sale, will be known as Valencia Town Center.
Lancaster, Calif. — Hanley Investment Group Real Estate Advisors has brokered the $2.7 million sale of a two-tenant retail building located in Lancaster. AutoZone and Precision Eyebrow Threading occupy the 6,999-square-foot property, which is situated on a 0.6-acre plot within a Target-anchored shopping center. Kevin Fryman, Bill Asher and Jeff Lefko of Hanley represented the seller, an undisclosed private investor.
Alhambra, Calif. — Three tenants have signed leases at The Shops at The Alhambra, a 17,800-square-foot retail center located in Alhambra. Labcorp and Johnny Rockets-Hurricane Grill will each occupy 2,000 square feet, and Burnt Belly will open a 1,640-square-foot restaurant at the property. The Ratkovich Co. is the landlord. GE Property Management represented The Ratkovich Co. in all the leasing negotiations. CBRE represented Labcorp, and Jack M. Bennett represented Fat Brands in the leasing negotiations for Johnny Rockets-Hurricane Grill. GE Property Management also represented Burnt Belly.
Long Beach, Calif. — Two new tenants have signed leases at Long Beach Towne Center, a retail center located in Long Beach. Scheduled to open this summer, restaurant The Stand will occupy 3,011 square feet at the property. Cookie Plug has also signed a lease at the center and will open in a 1,000-square-foot space next to tenant Roasting Water and near the Regal Edwards Long Beach theater.
Fresno, Calif. — Hanley Investment Group Real Estate Advisors has brokered the $3.2 million sale of a single-tenant property located in Fresno. Starbucks Coffee occupies the newly constructed, 2,250-square-foot building. Bill Asher and Jeff Lefko of Hanley represented the developer and seller, Laguna Canyon Group, in the transaction. Patrick Conway of CBRE represented the buyer, a locally based private investor.
Los Angeles — Developer Jeff Appel has completed the redevelopment of a 40,000-square-foot retail center located in Los Angeles. Matt Saker and Richard Rizika of Beta Agency will lead retail leasing efforts at the property, dubbed The Now.
Vacaville, Calif. — JLL Capital Markets has brokered the $29.2 million sale of Power Plaza, a 112,250-square-foot retail center located in Vacaville, approximately 30 miles outside Sacramento. Built in 1993 and 1994, the property was 96 percent occupied at the time of sale. Sprouts Farmers Market anchors the center. Other tenants include Restoration Hardware Outlet, Williams Sonoma Home Outlet, Pacific Dental Services, The Good Feet Store and Banfield Pet Hospital. Eric Kathrein, Tim Kuruzar, Warren McClean and Andy Spangenberg of JLL represented the seller, ProEquity Asset Management. DPI Retail acquired the …
Walnut Creek, Calif. — Newmark has negotiated the sale of Midtown Plaza, a 24,867-square-foot retail center located in Walnut Creek. The property was fully leased at the time of sale to tenants including Galpao Gaucho Brazilian Steakhouse and Premier Bath & Kitchen. Nicholas Bicardo, Rick Steffens and Cheyne Bloch of Newmark represented the undisclosed seller in the transaction. L&B Realty Advisors represented the buyer, an institutional client.
