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72306-Highway-111-Palm-Desert-CA
CaliforniaInvestment salesNews

Hanley Investment Group Brokers $5 Million Sale of Two-Tenant Outparcel in Palm Desert, California

by Katie Sloan

Palm Desert, Calif. — Hanley Investment Group has arranged the sale of a two-tenant outparcel property located at 72306 Highway 111 in Palm Desert. Newport Beach-based Sage Investco sold the asset to a Salt Lake City-based private investor for $5 million. Mattress Firm occupies 3,800 square feet and Club Champion occupies 3,016 square feet at the asset on a net-leased basis. The property is an outparcel to a Walmart Neighborhood Market. Eric Wohl and CJ Kiehler of Hanley Investment Group represented the buyer and seller in the deal.

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Second-PCH
CaliforniaLeasingNews

Six New Tenants to Open at 2nd & PCH in Long Beach, California

by Katie Sloan

Long Beach, Calif. — Six new tenants are set to open at 2nd & PCH, an open-air retail development by CenterCal Properties located in Long Beach. Openings will include Beachwood Brewing, a brewery with a tasting venue and outdoor patio; dan modern chinese, a restaurant offering a modern take on traditional Chinese cuisine; Fire Wing, a beer and wing restaurant; Forno Banci, an Italian restaurant; Woodpak Pet Kitchen, a dining establishment for dogs offering ‘farm-to-bowl’ meals and treats; and Compass Real Estate, a real estate brokerage. A timeline for the …

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Town-Center-at-the-Preserve
CaliforniaDevelopmentGrocery-anchoredNews

Lewis Retail Centers to Build 169,590-Square-Foot Town Center at The Preserve in Chino, California

by Katie Sloan

Chino, Calif. — Lewis Retail Centers has unveiled plans to build Town Center at The Preserve in Chino, a city in Southern California. The retail and office development, which will span 169,590 square feet, is slated to open in summer 2023. Town Center at The Preserve will be situated within a master-planned community named The Preserve at Chino and adjacent to multifamily units. The pedestrian-friendly development will feature Main Street-oriented retail space, as well as open spaces for gatherings and events. Stater Bros., a privately held supermarket chain based in San Bernardino, …

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8850-Sunset
CaliforniaDevelopmentFinanceMixed-useNews

Silver Creek Receives Funding for Mixed-Use Redevelopment of 8850 Sunset Boulevard in West Hollywood

by Katie Sloan

West Hollywood, Calif. — Silver Creek Development has received funding for the redevelopment of 8850 Sunset Boulevard, which is located on the Sunset Strip in West Hollywood. Cottonwood Group provided a $62 million loan for the project. Currently a retail strip center and home to the legendary Viper Room music venue, the property is going through re-entitlement and will be transformed into a mixed-use project. Plans call for a redesigned music venue and recording studio, multiple eateries, retail spaces, a five-star hotel, 26 condominiums and eight income-restricted housing units. Completion is …

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Heritage-Park
CaliforniaGrocery-anchoredInvestment salesNews

First National Realty Acquires Heritage Park Shopping Center in San Francisco Bay Area

by Katie Sloan

Suisun City, Calif. — First National Realty Partners has acquired Heritage Park, a 167,000-square-foot shopping center located roughly 50 miles northeast of San Francisco in Suisun City. A 60,000-square-foot Raley’s anchor the center, which was home to tenants including Ace Hardware, AutoZone, Dollar Tree, Dunkin Donuts, Mariner Finance and H&R Block at the time of sale. The seller and terms of the transaction were undisclosed. 

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3501-McHenry-Ave-Modesto-CA
CaliforniaContent PartnersFaris Lee InvestmentsInvestment salesNews

Faris Lee Negotiates $25 Million Acquisition of Promenade Shopping Center in Modesto, California

by Katie Sloan

Modesto, Calif. — Faris Lee Investments has negotiated the $25 million purchase of The Promenade Shopping Center, a 118,485-square-foot retail center in Modesto. Located at 3501 McHenry Ave., the property was fully occupied at the time of sale by tenants including Ross Dress for Less, Barnes & Noble, AutoZone, Skechers, Hallmark, Cold Stone Creamery and Subway. Alexander Moore, Sean Cox and Don MacLellan of Faris Lee represented the buyer, a Modesto, California-based private family office, in the acquisition of the property from an ownership group managed by West Valley Properties. 

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Delta-Shores-Ross-Dress-Sacramento-CA
CaliforniaInvestment salesNews

Pine Tree Acquires Delta Shores Shopping Center in Sacramento for $122.5 Million

by Katie Sloan

Sacramento, Calif. — Pine Tree, in partnership with a U.S. pension fund, has purchased Delta Shores, a shopping center in Sacramento, for $122.5 million. Completed in 2017, Delta Shores features 414,658 square feet of retail space. Tenants at the time of sale included Dick’s Sporting Goods, Hobby Lobby, Ross Dress for Less, PetSmart and Ulta Beauty. The shopping center is part of the 800-acre Delta Shores master-planned development located 10 miles south of downtown Sacramento and immediately adjacent to Interstate 5. Eastdil Secured represented Pine Tree in the transaction.

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La-Verne-Plaza
CaliforniaContent PartnersFaris Lee InvestmentsInvestment salesNews

Faris Lee Arranges $17.3 Million Sale of La Verne Plaza in Metro Los Angeles

by Katie Sloan

La Verne, Calif. — Faris Lee Investments has arranged the $17.3 million sale of La Verne Plaza, a retail center located in the Los Angeles County community of La Verne. Shaun Riley and Nick Miller of Faris Lee represented the undisclosed seller and procured the San Gabriel Valley-based buyer in the all-cash transaction. The property is shadow-anchored by Stater Brothers and In-N-Out Burger. 

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Phenix-Salon-Suites
CaliforniaInvestment salesNet leaseNews

Hanley Investment Group Arranges $6.3 Million Sale of Single-Tenant Retail Building Near Los Angeles

by Katie Sloan

Redondo Beach, Calif. — Hanley Investment Group Real Estate Advisors has arranged the $6.3 million sale of a single-tenant retail building located in Redondo Beach, roughly 19 miles southwest of Los Angeles. The 9,502-square-foot property is net-leased to Phenix Salon Suites. The building is located within King Harbor Plaza, a shopping center anchored by Petco and Smart & Final Extra! Bill Asher and Jeff Lefko of Hanley represented the seller, a private investor based in Los Angeles. John Boyle of Midland Business Properties represented the buyer, a private investor based in …

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Santee-Town-Center-Santee-CA-1
CaliforniaContent PartnersFaris Lee InvestmentsInvestment salesNews

Faris Lee Negotiates $27.1 Million Sale of Santee Town Center Retail Property in Suburban San Diego

by Katie Sloan

Santee, Calif. — Faris Lee Investments has arranged the $27.1 million sale of Santee Town Center, a shopping center in the San Diego suburb of Santee. Brixton Capital acquired the property from a Los Angeles-based private family office. Sean Cox and Alex Moore, Don MacLellan and Gene Ventura of Faris Lee represented the buyer and seller in the deal. At the time of sale, the 106,903-square-foot retail center was fully leased to tenants including Ross Dress for Less, Dollar Tree and Michaels. 

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