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.
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.
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 …
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.
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.
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
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 …
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 + …
Santa Rosa, Calif. — WS Development has completed the renovation and expansion of public gathering spaces at Montgomery Village, a 280,000-square-foot retail center located in Santa Rosa, as well as added new tenants. Highlights of the property renovations include updates to The Courtyard, a community hub that features seating, a children’s play area and a dog relief area. The Passage, a new covered passageway connecting the north and south ends of the property, is now also open at the center. New tenant openings at the property include Amour Vert, Mandarin Kitchen, Gorjana, …
Visalia, Calif. — Matthews Real Estate Investment Services has arranged the sale of Mary’s Vineyard, a shopping center located in Visalia. Argonaut Investments, a privately held investment firm, acquired the asset from an undisclosed seller for $17.7 million. Developed in 1989 on 16.5 acres, the property totals 151,615 square feet and was leased to 28 tenants at the time of sale. Carter Hamilton and Matt LoPiccolo of Matthews Real Estate Investments represented the seller and buyer in the transaction.