California

Bakersfield, Calif. — ZDI Inc. has acquired a retail center, located at 2625-2635 Mall View Road in Bakersfield, for $8.1 million through a 1031 exchange. The seller was a local partnership of real estate professionals, which has owned the property for more than 15 years after purchasing it from the original developer. Built in 2005, the 29,387-square-foot retail property is fully occupied by a variety of tenants, including a major office supply retailer. Cushman & Wakefield’s Duane Keathley and Vincent Roche represented the seller in transaction.

Fresno, Calif. — Faris Lee Investments has arranged the sale of Country Squire Shopping Center, a three-building retail property in Fresno. A Riverside, California-based private investor acquired the center from a Fresno-based investor for $6.6 million. Both parties requested anonymity. Walgreens, Surf Thru Express Car Wash and Multi-Tenant Shops fully occupy the 27,315-square-foot property. Situated on a total of 4.3 acres, the center is located at 4172, 4140, 4182 N. First St. Sean Cox, Alex Moore and Shaun Riley of Faris Lee Investments represented both parties in the deal.

Baldwin Park, Calif. — Kidder Mathews has arranged the sale a 45,000-square-foot retail property occupied by LA Fitness at 13822 Garvey Ave. in Baldwin Park, an eastern suburb of Los Angeles. A private family investor sold the property to an undisclosed buyer for $18.1 million in a 1031 exchange transaction. Tanel Harunzade, Darrell Levonian and Brittney McCarthy of Kidder Mathews represented the seller in the deal, while Janet Neman and Angelica Gotzev of Kidder Mathews represented the buyer.

Chino, Calif. — Newmark has arranged the $42.2 million sale of Country Fair Shopping Center, a 168,264-square-foot neighborhood shopping center in Chino. Red Mountain Group acquired the property from a publicly traded REIT based in New York. Pete Bethea, Rob Ippolito and Glenn Rudy of Newmark represented the seller in the deal. At the time of sale, the center was 92 percent occupied by tenants including PetSmart, Rite Aid, Dollar Tree, Harbor Freight Tools, America’s Tires, Kaiser Permanente and Sherwin-Williams.

Laguna Hills, Calif. — Cape Point Development has acquired La Paz Village, a neighborhood shopping center in Laguna Hills. A consortium of private investors sold the property for $23.5 million. Built in 1974 and refurbished in 2012, La Paz Village features 54,566 square feet of retail space. Bill Rose of Institutional Property Advisors, a division of Marcus & Millichap, along with Steven Siegel, Glen Kunofksy and Anthony D’Ambrosia of Marcus & Millichap represented the seller, while Rose procured the buyer in the deal. Damon Wyler of Marcus & Millichap served …