California

Oceanside, Calif. — Faris Lee Investments has arranged the $5.9 million sale of a retail pad located in Oceanside. A recently constructed Starbucks Coffee and Pacific Dental occupy the property, which is situated within Pacific Coast Plaza. Jeff Conover, Don MacLellan, Scott DeYoung and Chris DePierro of Faris Lee represented the seller, a California-based developer. Shaun Riley of Faris Lee represented the all-cash buyer in the 1031-exchange transaction. 

San Clemente, Calif. — Wood Investments Cos. has acquired a 25,000-square-foot single-tenant retail property located in San Clemente for $7 million. The 99 Store occupies the property, which is situated within Pico Plaza shopping center. “The 99 Store has been a good tenant and partner of ours in other centers, and this was another opportunity to partner with them again,” says Patrick Wood, chief executive officer and president of Wood Investments. 

Corona, Calif. — Progressive Real Estate Partners has brokered the $7.2 million sale of a single-tenant retail property located in Corona. Merit Auto Spa, a full-service car wash center, occupies the building, which is an outparcel to Corona Hills Marketplace. A California-based private investor purchased both the property and business. Victor Buendia of Progressive represented the undisclosed seller in the transaction. 

Imperial, Calif. — Hanley Investment Group Real Estate Advisors has brokered the sale of two single-tenant retail properties located in Imperial for a total $5.8 million. Starbucks Coffee Drive-Thru occupies the first building, which comprises 2,089 square feet, on a 10-year lease. A private investor purchased the property for $2.9 million. The United States Postal Service leases the second building, which totals 5,430 square feet. An Indiana-based private partnership acquired the property for $2.9 million. Bill Asher and Jeff Lefko of Hanley represented the seller and developer, 5th Street Development LLC, …