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CaliforniaGrocery-anchoredInvestment salesNews

JLL Brokers $29.2 Million Sale of Retail Center in Metro Sacramento

by Hayden Spiess

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 …

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CaliforniaInvestment salesNews

Newmark Negotiates Sale of 24,867-Square-Foot Retail Center in Walnut Creek, California

by Hayden Spiess

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.

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YETI
CaliforniaLeasingNews

YETI Opens 5,420-Square-Foot Store at Santana Row in Northern California 

by Hayden Spiess

San Jose, Calif. — YETI has opened a 5,420-square-foot store at Santana Row, a Federal Realty Investment Trust property located in San Jose. Offering outdoor gear and apparel, the retailer opened Aug. 17. Additionally, restaurants Urban Plates, Fitoor and Suspiro have signed leases at the property, with Urban Plates scheduled to open next month. 

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CaliforniaFinanceNews

URW Receives $925 Million Financing for Westfield Century City in Los Angeles

by Hayden Spiess

Los Angeles — Unibail-Rodamco-Westfield (URW) has received $925 million in new financing for Westfield Century City, a 1.4 million-square-foot mall located in Los Angeles. The mall, which is fully owned by URW, was 95 percent occupied at the time of financing, which is in the form of a two-year, floating-rate commercial mortgage-backed security (CMBS). 

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CaliforniaLeasingNews

Five Below to Open 10,000-Square-Foot Store in Dublin, California

by Hayden Spiess

Dublin, Calif. —Five Below will open a 10,000-square-foot store in Dublin. Scheduled to open this fall, the store will be situated within Hacienda Crossings, a 262,273-square-foot shopping center. Other tenants at the property include TJ Maxx, Barons Jewelers, Ulta Beauty, The World of Beer and Five Guys Burgers. 

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Chipotle
CaliforniaInvestment salesNet leaseNews

Hanley Brokers $5 Million Sale of Chipotle-Leased Property in Sacramento, California

by Hayden Spiess

Sacramento, Calif. — Hanley Investment Group has brokered the $5 million sale of a single-tenant property located in Sacramento. Chipotle Mexican Grill occupies the 2,347-square-foot building, which is situated within The Quad District, a new mixed-use development, on a triple-net lease. Bill Asher and Jeff Lefko represented the developer and seller, Chase Partners LTD. KDC constructed the property, which was designed by Vermeltfoort Architects. A California-based buyer purchased the property. 

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Century-Plaza-Los-Angeles
CaliforniaDevelopmentMixed-useNews

Reuben Brothers Completes $2.5 Billion Century Plaza Mixed-Use Project in Los Angeles

by Katie Sloan

Los Angeles — Reuben Brothers, a private equity and real estate investment firm, has completed the development of Century Plaza, a $2.5 billion mixed-use project in the Century City area of Los Angeles. Sales and marketing of the development’s two 44-story residential towers totaling 268 for-sale residences will commence this fall. Designed by Pei Cobb Freed & Partners, the buildings offer residential amenities such as a pool, business center, outdoor dining spaces, a dog park and a children’s playroom. Century Plaza also features the reimagined Fairmont Century Plaza hotel, which …

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CaliforniaInvestment salesNet leaseNews

CBRE Arranges $6.8 Million Sale of Rite Aid-Leased Building in Banning, California

by Hayden Spiess

Banning, Calif. — CBRE has brokered the $6.8 million sale of a retail building located in Banning. A local private investor acquired the property from another private investor.  David McNevin, Melissa Ley Marshall and Ian Schroeder of CBRE represented the seller in the transaction. Rite Aid occupies the 17,272-square-foot property, which was built in 2009, on a double-net lease.

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CaliforniaInvestment salesNews

DMI Real Estate Group Sells Two Retail Centers in California for $25.5 Million

by Hayden Spiess

La Habra and La Palma, Calif. — DMI Real Estate Group has sold La Palma Collection and The Row on Harbor in California for a total of $25.5 million. The Row on Harbor in La Habra features 23,314 square feet of retail space. At the time of sale, the property was fully leased to 14 tenants, including EggBred, AkaFuji, Furai Chicken, Bodhi Leaf Coffee Traders, Code Ninjas and Club Pilates. A 1031 all-cash buyer acquired the property for $12.5 million. Located in La Palma, La Palma Collection features 23,882 square feet …

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CaliforniaInvestment salesMixed-useNews

BH Properties Acquires 322,000-Square-Foot Mixed-Use Property in San Francisco

by Hayden Spiess

San Francisco — BH Properties has acquired Anchorage Square, a 322,000-square-foot mixed-use property located in Fisherman’s Wharf in San Francisco. Built in 1974 and situated on 2.6 acres, the development features 63,000 square feet of retail space, as well as a 128-room hotel, 28,000 square feet of office space and a 685-space parking garage. The buyer plans to implement an extensive capital improvement program, which will include upgraded façades, landscaping, lighting, signage, wayfinding and tenant and common areas. The firm will also explore alternative uses for the office space such as …

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