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CaliforniaInvestment salesNet leaseNews

Progressive Arranges $4.5 Million Sale of Southern California Retail Center

by Hayden Spiess

Carlsbad, Calif. — Progressive Real Estate Partners has brokered the sale of a 4,584-square-foot retail center located in Carlsbad Village in Carlsbad, roughly 35 miles north of San Diego. Mike Lin of Progressive represented the private New York-based seller in the $4.5 million transaction. A private San Diego-based investor, represented by Josh Simms and Ryan King of Voit Real Estate Services, acquired the property. Built in 2019, the center comprises three units currently occupied Harumana Noodles + Buns, Village Optical and The Shop Salon, all occupied on triple net leases.

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905-E-Bidwell-St-Folsom-CA
CaliforniaFaris Lee InvestmentsInvestment salesNet leaseNews

Faris Lee Brokers $11.3 Million Sale of Sprouts-Occupied Retail Property in Folsom, California

by Hayden Spiess

Folsom, Calif. — Faris Lee Investments has arranged the sale of a retail building located at 905 E. Bidwell St. at The Bidwell Center in Folsom, roughly 20 miles northeast of Sacramento. VR Folsom, an Orange County-based private family office, sold the property to a La Jolla-based buyer for $11.3 million. Jeff Conover, Shaun Riley and Scott DeYoung of Faris Lee represented the seller, with Infinity Investment Properties representing the buyer in the deal. Situated on 2.7 acres, Sprouts Farmers Market occupies the single-tenant property. The tenant has a 15-year, …

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CaliforniaDevelopmentFinanceNewsRestaurants

Parkview Financial Provides $35 Million Construction Financing for 42-Acre West Harbor Retail Project in Los Angeles

by Hayden Spiess

Los Angeles — Parkview Financial has provided a $35 million senior construction loan to a venture between Ratkovich Co. and Jerico Development for the development of West Harbor, a retail center along the Los Angeles waterfront in the San Pedro neighborhood. The financing from Parkview is in addition to $55 million of Commercial Property Assessed Clean Energy financing, as well as $85 million of investor equity. Situated on 42 acres at 1200 Nagoya Way, West Harbor will feature more than 125,460 square feet of multi-tenant retail space. Scheduled for completion …

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Chino-Village-Chino-CA
CaliforniaInvestment salesNews

Progressive Real Estate Arranges $8.4 Million Sale of Chino Village Shopping Center in Southern California

by Hayden Spiess

Chino, Calif. — Progressive Real Estate Partners has brokered the sale of Chino Village, a neighborhood retail center located at 4103 Riverside Drive in Chino. An Orange County-based seller sold the property to a Los Angeles-based private investor for $8.4 million. The purchase included the retail center and approximately 2.5 acres of undeveloped land with flexible zoning. Built in 1984, Chino Village features 20,600 square feet of retail space with more than 380 feet of frontage along multiple points of access. Current tenants include Jiffy Lube, Subway, Wienershnitzel and a …

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CaliforniaFinanceNews

iBorrow Provides $15 Million Refinancing for Santa Clarita Shopping Center

by Hayden Spiess

Santa Clarita, Calif. — iBorrow has provided $15 million in refinancing for Old Orchard Shopping Center, a 100,000-square-foot retail center located in Santa Clarita. Proceeds of the financing will retire an outstanding commercial mortgage-backed security loan and fund tenant improvements and leasing commissions. Occupants at the property, located at 23329-23449 Lyons Ave., include grocery and fast-food tenants.

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CaliforniaDevelopmentLeasingNews

Progressive Arranges 70,000-Square-Foot Lease with Target in Metro Los Angeles

by Hayden Spiess

Ontario, Calif. — Progressive Real Estate Partners has completed a lease with Target at Vineyard Freeway Center in Ontario, a 151,000-square-foot shopping center approximately 35 miles east of Los Angeles. Target will occupy 70,000 square feet of a building formerly leased to Kmart, which closed in 2018. Planet Fitness leased 24,000 square feet at the building earlier this year. Target’s new lease marks full occupancy of the 94,000-square-foot space. Paul Galmarini and Paul Su of Progressive represented the landlord in the negotiation. Jeff Nichols and Ryan Sullivan of CBRE represented …

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KinderCare
CaliforniaInvestment salesNet leaseNews

SRS Real Estate Arranges Sale of 14 KinderCare-Occupied Properties Across US

by Hayden Spiess

Newport Beach, Calif. — SRS Real Estate Partners has arranged the sale of 14 single-tenant retail properties occupied KinderCare Learning Centers. The buildings sold in separate transactions totaling $60 million. The KinderCare Centers are located in Wisconsin, Florida, North Carolina, Iowa, Nebraska and Michigan. Chad Lieber of Newport Beach, California-based SRS represented the undisclosed sellers. Private investors acquired the properties, which range in size from 10,000 to 13,000 square feet. A majority of the transactions were 1031 exchanges and approximately half were all-cash.

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CaliforniaDevelopmentMallsMixed-useNews

DJM, PGIM Receive Approval for Mixed-Use Project at Bella Terra Shopping Center in Metro Los Angeles

by Hayden Spiess

Huntington Beach, Calif. — A partnership between DJM and PGIM has received approval for a mixed-use redevelopment project at Bella Terra, an 852,000-square-foot retail property located roughly 35 miles outside Los Angeles in Huntington Beach. Plans for the project, now approved by the Huntington Beach City Council, include the demolition of a 149,000-square-foot Burlington Coat Factory-occupied building and an adjacent 33,000-square-foot building. The partnership will replace the existing buildings with a low-rise structure featuring 25,000 square feet of ground-floor retail and restaurant space and five stories of residential space, comprising …

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CaliforniaFinanceInvestment salesNews

Matthews Brokers $6.9 Million Acquisition of Fresno Shopping Center

by Hayden Spiess

Fresno, Calif. — Matthews Real Estate Investment Services has arranged the sale of Village Walk Shopping Center, a 30,000-square-foot retail center located in Fresno. Nabil Awada of Matthews represented the undisclosed buyer, which acquired the property for $6.9 million in a 1031-exchange transaction. Crunch Fitness Center anchors the property, which is located at 6350-6380 North Figarden Ave. Jim Brandon and Greg Kavoklis of Matthews arranged financing for the purchase.

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CaliforniaFinanceNews

Gantry Arranges $23 Million Refinancing for Shopping Center in San Francisco Bay Area

by Hayden Spiess

Vacaville, Calif. — Gantry has secured $23 million for the refinancing of Vacaville Commons, a 400,000-square-foot retail center located in Vacaville, roughly 30 miles southwest of Sacramento. Tom Dao and Erinn Cooke of Gantry’s San Francisco office arranged the 10-year permanent loan on behalf of the borrower, an undisclosed investment partnership. Tenants at Vacaville Commons, which is shadow-anchored by Target and Burlington, include Safeway, Ross Dress for Less, Big 5, Chase Bank, Chick-fil-A and Chili’s.

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