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CaliforniaGrocery-anchoredInvestment salesNews

Chartwell Acquires Shopping Center in Southern California for $27.8 Million

by Hayden Spiess

Hermosa Beach, Calif. — Chartwell Real Estate Development has acquired Park Pacific Shopping Center in Hermosa Beach for $27.8 million. Tenants at the center, which totals 49,911 square feet, include Trader Joe’s, Starbucks Coffee, El Pollo Inka and Five Below. Daniel Tyner, Gleb Lvovich and Geoff Tranchina of JLL represented Chartwell in the transaction. The Bacon family, which has owned the property since 1949, was the seller. Previously the site of a car dealership, the property was converted to a shopping center in 1977.

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CaliforniaCompany newsNews

Daiso to Open Two New Stores in California

by Hayden Spiess

Cucamonga and Gilroy, Calif. — Japanese retail chain Daiso has announced that it will open two new stores in California this month. Located in Cucamonga and Gilroy, the stores total 15,343 and 10,004 square feet, respectively. Daiso — which offers products including Japanese inspired home décor, stationery and food — first entered the U.S. market in 2005. 

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CaliforniaLeasingNews

Five New Tenants Sign Leases at MainPlace in Santa Ana, California

by Hayden Spiess

Santa Ana, Calif. — Five new tenants have signed leases at MainPlace, a three-story shopping center located in Santa Ana. FYE, Express, WOW Games and Flowers on Wheels are now open at the property, occupying 6,326; 7,907; 1,326; and 1,199 square feet, respectively. Lollicup Fresh will also join the tenant lineup and is scheduled to open a 1,328-square-foot shop this month. Centennial owns and operates the shopping center, which features roughly 150 retailers and restaurants. 

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CaliforniaInvestment salesNews

MCB Real Estate, DRA Advisors Purchase Falcon Ridge Town Center in Southern California for $65 Million 

by Hayden Spiess

Fontana, Calif. — A joint venture between MCB Real Estate and a fund managed by DRA Advisors has purchased Falcon Ridge Town Center, a retail center located in Fontana, for $65 million. Built in 2005 and renovated in 2023, the property totals 273,424 square feet. Tenants at the center, which was fully leased at the time of sale, include Ulta Beauty, Famous Footwear, Five Below, Michaels, Dollar Tree and Ross Dress for Less.

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CaliforniaInvestment salesNews

Atlantic Capital Partners Brokers $95 Million Sale of Retail Center in San Jose, California 

by Hayden Spiess

San Jose, Calif. — Atlantic Capital Partners has brokered the $95 million sale of The Plant, a retail center located in San Jose. Tenants at the property, which totals 367,000 square feet, include Target, Home Depot, Best Buy, PetSmart, Ross Dress for Less and Ulta Beauty. Justin Smith, Chris Peterson, Sam Koonce and Denielle Donovan of Atlantic represented the seller in the transaction and secured the buyer, Milan Capital Management. Stephen Joseph of Atlantic arranged acquisition financing on behalf of the buyer. The center was 65 percent occupied at the time …

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CaliforniaGrocery-anchoredInvestment salesNews

CBRE Negotiates Sale of 65,054-Square-Foot Retail Center in Oceanside, California

by Hayden Spiess

Oceanside, Calif. — CBRE has negotiated the sale of Plaza Rancho Del Oro, a 65,054-square-foot retail center located in Oceanside. A&C Properties sold the center for $34.3 million. Albertsons and Planet Fitness anchor the property, which was 92 percent leased at the time of sale. Other tenants include Starbucks Coffee, My Salon Suites, Upper Crust Pizza, Wells Fargo and Carl’s Jr. Jimmy Slusher, James Tyrrell and Megan Lanni of CBRE represented the seller. Reg Kobzi, Michael Peterson and Joel Wilson of CBRE assisted in closing the transaction. 

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CaliforniaInvestment salesMixed-useNews

BH Properties Acquires 405,250-Square-Foot Mixed-Use Property in San Diego

by Hayden Spiess

San Diego — BH Properties has acquired Hazard Center, a 405,250-square-foot mixed-use property located in San Diego. Situated on 14.5 acres, the development features 135,000 square feet of retail space, as well as a 270,000-square-foot office tower. Retail tenants at the property include Barnes & Noble, Orange Theory Fitness, BJ’s Brewhouse, Wood Ranch BBQ & Grill, Which Which Superior Sandwiches and FedEx. Adam Edwards, Justin Shepherd, Michael Kathrein and Bailey Bland of Eastdil Secured marketed the property and acted as advisor to the undisclosed seller. 

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CaliforniaInvestment salesNews

Grupe Huber Acquires of 400,000-Square-Foot Retail Center in Manteca, California

by Hayden Spiess

Manteca, Calif. — Grupe Huber has acquired The Promenade Shops at Orchard Valley, a 400,000-square-foot retail center located in Manteca. Bass Pro Shop, AMC Theatres, JC Penney and Valley Fitness anchor the property, which is situated on 54 acres. Sutter Health recently signed a 17,500-square-foot lease at the center and is currently underway on construction of its space, which is scheduled to open in early 2025. The buyer plans to implement a “revitalization” process at the property, which was originally built in 2008. JLL manages and leases the center. 

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FCPT Purchases 20 Bloomin’ Brands Restaurant Properties for $66.4 Million 

by Hayden Spiess

Mill Valley, Calif. — Four Corners Property Trust (FCPT) has purchased 20 restaurant properties occupied by Bloomin’ Brands concepts for $66.4 million dollars. Located in Arizona, Florida, Georgia, Kentucky, Louisiana, North Carolina, Nevada, Pennsylvania, South Carolina and Tennessee, the portfolio includes 10 Outback Steakhouse restaurants and 10 Carrabba’s Italian Grill restaurants, with one dual-tenant property occupied by both concepts. The properties are leased to corporate Bloomin’ Brands entities on two master leases. This transaction makes Bloomin’ Brands the third largest tenant for FCPT, accounting for 3.3 percent of cash rent for …

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CaliforniaLeasingNews

Three New Tenants Sign Leases at South Coast Collection in Metro Los Angeles

by Hayden Spiess

Costa Mesa, Calif. — Three new retail tenants have signed leases at South Coast Collection (SoCo), a 292,000-square-foot retail center located in Costa Mesa, roughly 40 miles outside Los Angeles. Lovesac, BauTeam and Fireclay Handmade Tile will occupy 2,198; 2,035; and 2,238 square feet at the property, respectively. Continental Realty Corp. (CRC) is the landlord of the center, which was originally developed in 2007. Other tenants at the property include Coco Republic, Design Within Reach, La-Z-Boy, Paul Mitchell the School, Brown Jordan, Natuzzi, Room & Board, Butcher’s House, Greenleaf Kitchen + …

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