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CaliforniaInvestment salesNewsRestaurants

Hanley Arranges $4 Million Sale of Two-Tenant Retail Pad in Metro Sacramento

by Hayden Spiess

Roseville, Calif. — Hanley Investment Group Real Estate Advisors has arranged the $4 million sale of a two-tenant retail pad located in Roseville, roughly 20 miles northeast of Sacramento. Chipotle Mexican Grill and Sushi Roku occupy the 4,808-square-foot property, which is situated within Freedom Point Plaza shopping center. Jeff Lefko and Bill Asher of Hanley represented the seller, Covenant Real Estate Group, in the transaction. Scott Pesch of CB Commercial Pacific Partners represented the buyer, a private investor.

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CaliforniaCompany newsNews

Westwood Financial Promotes Two Senior Retail Executives

by Hayden Spiess

Los Angeles — Westwood Financial, a retail real estate investment firm, has promoted Lauren Ball and Juyuan Wei to the company’s C-suite. Ball will take on the role of chief operating officer, with Wei appointed chief financial officer. Ball and Wei joined the Los Angeles-based company in 2021 and 2018, respectively, previously serving as senior vice president and head of leasing and senior vice president of finance and accounting. The two will support Chief Executive Officer Mark Bratt. “A good portion of our ongoing success is due to these leaders’ …

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CaliforniaInvestment salesMixed-useNews

Progressive Real Estate Partners Brokers $3 Million Sale of Mixed-Use Property in Southern California

by Hayden Spiess

San Jacinto, Calif. — Progressive Real Estate Partners has brokered the $3 million sale of Farmer’s Corner, a 77,000-square-foot mixed-use property located in San Jacinto. Built in 1980, Farmer’s Corner was 60 percent occupied at the time of sale. Tenants include a breakfast eatery, jeweler, barber, party supply company and professional offices. Greg Bedell and Mike Lin of Progressive Real Estate Partners represented the buyer and seller, both private investors, in the transaction. The buyer plans to upgrade the property, including replacing the roof.

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CaliforniaNewsOperations

Vestar to Manage 438,500-Square-Foot Retail Center Near San Francisco

by Hayden Spiess

Dublin, Calif. — Vestar has been appointed by PNC Realty Investors to manage Hacienda Crossing, a 438,500-square-foot retail center located in Dublin, roughly 35 miles southeast of San Francisco. Regal Cinemas, Best Buy, PGA Golf Superstore, Ulta Beauty, TJ Maxx and Barnes & Noble anchor the property. Vestar currently operates 30 million square feet of retail space across almost 70 properties.

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CaliforniaInvestment salesNet leaseNews

Hanley Brokers $3.2 Million Pre-Sale of Car Wash Property in Southern California

by Hayden Spiess

Moreno Valley, Calif. — Hanley Investment Group Real Estate Advisors has brokered the $3.2 million pre-sale of a new construction car wash property located in Moreno Valley, within the Moreno Valley Marketplace shopping center. Quick Quack Car Wash will occupy the property on a triple-net ground lease. Bill Asher and Jeff Lefko of Hanley — in association with Jason Gordon of Epsteen & Associates — arranged the sale on behalf of the developer and seller, Inland Iris Partners Inc., an affiliate of The Lynch Group Inc. Amy Kim of Hanbada …

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CaliforniaInvestment salesNews

Hanley Brokers Sale of Two 7-Eleven Properties Totaling $10.2 Million in California

by Hayden Spiess

Indio and Perris, Calif. — Hanley Investment Group Real Estate Advisors has brokered the sales of two newly constructed properties in California, both leased to 7-Eleven, for a total of $10.2 million. Bill Asher and Jeff Lefko of Hanley represented the sellers, entities doing business as TSC Perris LLC and TSC Indio Golf Center LLC, in both transactions and procured the 1031-exchange buyers. The first property, comprising 3,494 square feet in Indio, was acquired by a private investor for $5.2 million. Rick Lazar of Lee & Associates represented the buyer. …

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CaliforniaInvestment salesNet leaseNews

JLL Brokers $4.4 Million Sale of Single-Tenant Retail Property in San Jose, California

by Hayden Spiess

San Jose, Calif. — JLL has arranged the sale of a single-tenant retail building located in San Jose. An undisclosed seller sold the asset to a private capital exchange buyer for $4.4 million. Citibank occupies the 7,986-square-foot property on a triple-net lease with six years of the lease term remaining. Eric Kathrein, Warren McClean and Andrew Spangenberg of JLL Retail Capital Markets represented the seller and procured the buyer in the deal.

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CaliforniaFinanceGrocery-anchoredNews

Ledo Capital Group Receives $13.4 Million Refinancing for District Moreno Valley Shopping Center in California

by Hayden Spiess

Moreno Valley, Calif. — Ledo Capital Group has received $13.4 million for the refinancing of District Moreno Valley, a shopping center in Moreno Valley. Completed in 2022, District Moreno Valley features 52,081 square feet of retail space anchored by Sprouts Farmers Market. Other tenants include KFC, The Joint Chiropractic, WSS and Starbucks Coffee. Matt Stewart, Chris Jaff and Daniel Skerrett of JLL Capital Markets Debt Advisory secured the financing through Manufacturers Banks on behalf of the borrower.

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CaliforniaCompany newsLeasingNewsRestaurants

Chipotle Mexican Grill Debuts New Restaurant Concept

by Hayden Spiess

Santa Monica, Calif. — Chipotle Mexican Grill Inc. has announced the launch of a new restaurant concept, which will be opening in a ghost kitchen space in Santa Monica. Dubbed Farmesa, the restaurant will open at Third Street Promenade in partnership with Kitchen United Mix. A soft opening is planned, which will feature an abbreviated menu and limited hours, before the official launch next month. Guests will be able to order via onsite kiosks, online at the Kitchen United website and via third-party apps including DoorDash and UberEats.  According to …

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