Brea, Calif. — Wood Investments Cos. has signed UFC GYM to open within a 30,000-square-foot retail property formerly occupied by Tower Records in Brea, roughly 30 miles southeast of Los Angeles. Scheduled to open in the third quarter of this year, UFC GYM will fully occupy the two-story, single-tenant building. Jim Manarino and Tracey Zimmerman of Manarino & Associates represented Wood Investments in the leasing negotiation.
Fresno, Calif. — Hanley Investment Group Real Estate Advisors has brokered the $15.8 million sale of Ash Tree Square, a retail center located in Fresno. Tenants at the property, which totals 80,877 square feet situated on 7.5 acres, include Ross Dress for Less, Starbucks Coffee, Wing Stop and Mountain Mike’s Pizza. Alexander Moore, Sean Cox and Kevin Fryman of Hanley represented the private, California-based seller in the transaction. A California-based private investor acquired the property.
West Hollywood, Calif. — JLL has arranged a 392-square-foot lease at a retail property in West Hollywood. European home fragrance and décor brand Baobab Collection will occupy the space, marking the second location in the country for the brand. The store is scheduled to open at the end of the year. Houman Mahboubi and Marisa Renfro of JLL represented Baobab in leasing negotiations.
Walnut, Calif. — Progressive Real Estate Partners has arranged a 2,366-square-foot, 10-year lease with The Habit Burger Grill in Walnut. Paul Su of Progressive represented the landlord in lease negotiations. The tenant plans to execute a significant renovation of the building, which is situated across from Mt. San Antonio College and features a drive-thru.
Huntington Beach, Calif. — JLL Capital Markets has brokered the $29 million sale of Adams Marketplace, a 65,116-square-foot shopping center located in Huntington Beach, approximately 35 miles southeast of Los Angeles. Built in 1974 and renovated in 2022, the property was 98 percent occupied at the time of sale. Smart & Final Extra anchors the center, with other tenants including Petco, Starbucks Coffee, MemorialCare Medical and Wingstop. Jiffy Lube, 76 Gas and Carl’s Jr. are also located at the center and were not included in the sale. Bryan Ley, Gleb Lvovich, …
Perris, Calif. — Hanley Investment Group Real Estate Advisors has arranged the $4.1 million sale of a 5,303-square-foot retail pad located in Perris. Altura Credit Union and Little Caesars Drive-Thru occupy the property, which was built in 2022 and is an outparcel to a shopping center anchored by Cardenas Markets. Bill Asher and Jeff Lefko of Hanley represented the seller, a California-based private partnership. Howard Rosenthal and Guy Excell of Rosenthal & Excell Commercial Real Estate represented the buyer, a California-based family office.
San Francisco — Westfield plans to pull out of San Francisco and surrender the San Francisco Centre mall to the property’s lender, reports CNN. The decision follows the closure of stores including Banana Republic and Nordstrom. A spokesperson for Westfield previously attributed the closure of the latter to “unsafe conditions for customers, retailers and employees.” According to SFGATE, Westfield and its partner, Brookfield Properties, have ceased loan payments on the mall. In a statement provided to the publication, Westfield noted that it has operated San Francisco Centre for more than …
Inglewood, Calif. — SRS Real Estate Partners has arranged the $5.1 million sale of a single-tenant retail property located in Inglewood, roughly 12 miles outside Los Angeles. Starbucks Coffee occupies the 1,008-square-foot building, which was built in 2021 on 0.4 acres, on a net-lease basis. Brian Wolfman and Zach Leffers of SRS represented the seller, a Los Angeles-based private investor. David Oberg and Zach Ordin of DLO Realty Group represented the buyer, a Los Angeles-based family office.
Riverside, Calif. — Hanley Investment Group Real Estate Advisors has brokered the $4.9 million sale of a four-tenant retail property located in Riverside. Built In 2020 and situated within Veteran’s Plaza, the 6,963-square-foot building is occupied by Starbucks Coffee, Express Gadget Repair, Desperate Measures and Jersey Mike’s Subs on a net-lease basis. Eric Wohl and CJ Kiehler of Hanley represented the seller, a California-based developer. Shirley Kim of Max Mega Group Realty represented the buyer, an international private investor.
Santa Monica, Calif. — Citivas Capital Group has provided a senior construction loan for the development of a mixed-use project at Third Street Promenade in Santa Monica. Upon completion, the space, which will include retail and office space, will feature floor-to-ceiling windows and a 4,000-square-foot outdoor roof terrace. Blatteis & Schnur was the borrower. Jorge Adler of Citivas arranged the financing.
