Long Beach, Calif. — LA Fitness has leased 33,987 square feet of space formerly occupied by Best Buy at Marina Pacifica Shopping Center in Long Beach. The gym location is scheduled to open in early 2022. Other tenants at the 296,954-square-foot center include AMC, Ralphs, Nordstrom Rack, Barnes & Noble, Buffalo Wild Wings, Starbucks Coffee and Ulta Beauty. The landlord, NewMark Merrill Cos., was represented in-house and by Beta Agency, while RealSource Group represented LA Fitness in the deal.
Beaumont, Calif. — Brixton Capital has acquired Marketplace Beaumont, a 187,851-square-foot shopping center in Beaumont. Brixton purchased the property from the FJ Hanshaw Trust for an undisclosed price. Gleb Lvovich & Daniel Tyner of JLL represented the buyer in the transaction, while FJ Hanshaw Trust was self-represented. The shopping center was 92 percent leased at the time of sale to tenants including Aldi, Petco, Ross, Best Buy, Taco Bell, Starbucks Coffee and Bank of America. The property includes five drive-thru pads. The new ownership plans to renovate the property, with …
Fontana, Calif. — Progressive Real Estate Partners has signed a new lease with Crazy Boss Big Discount Store at Vineyard Valley Center, a 285,000-square-foot retail center in Fontana. Located at 17099 Valley Blvd., the discount store will open this fall in a 103,157-square-foot anchor space that was formerly occupied by Kmart. Additional tenants at the center include Food 4 Less, Big Lots and dd’s Discounts. Paul Galmarini of Progressive Real Estate Partners and Justin Altemus of The Altemus Co. represented the landlord in the transaction. Galmarini also represented Crazy Boss.
Atwater, Calif. — Hanley Investment Group Real Estate Advisors has arranged the sale of Atwater Marketplace, a fully-occupied, 96,224-square-foot shopping center anchored by Save Mart Supermarkets and CVS/pharmacy in Atwater. Kevin Fryman and Eric Wohl of Hanley Investment Group represented the seller, Phillips Edison & Co. Inc. The buyer was a private investor based in Los Angeles and was represented by Brett Visintainer of Visintainer Group. Additional tenants at Atwater Marketplace include Ace Cash Express, Baskin Robbins, Chase, Chinese Kitchen, Freeway Insurance, GameStop, Great Clips, Merco Credit Union, Rabobank, RE/MAX, …
Newport Beach, Calif. — Chartwell Real Estate Development has purchased Balboa Fun Zone, a mixed-use entertainment development in Newport Beach. Discovery Cube, a Southern California children’s science museum, sold the property for an undisclosed price. The new owners plan to restore the historic landmark and continue to operate the property as the Balboa Fun Zone, one of Southern California’s oldest amusement park dating to the early 1900s. Located at 600 E. Bay Ave., the 34,500-square-foot property offers 212 feet of waterfront space, the Edgewater Place boardwalk, the Balboa Ferris Wheel, …
Colton, Calif. — Progressive Real Estate Partners has arranged the $8.8 million sale of Los Compadres Plaza, a 47,090-square-foot retail property located at 1035 S. Vernon Ave. in the Inland Empire community of Colton. Brad Umansky, Greg Bedell and Mike Lin of Progressive Real Estate Partners represented the Los Angeles-based seller, who was also one of the original developers, in the transaction. The buyer is a Southern California-based 1031 exchange private investor. Los Compadres Plaza was 93 percent occupied at the time of sale and recently underwent renovations including new …
Long Beach, Calif. — Triss LLC has completed the disposition of a retail strip center located on the corner of East Pacific Coast Highway and Martin Luther King Jr. Avenue in Long Beach. A family trust acquired the property for $4.4 million. 7-Eleven anchors the 25,148-square-foot center. Tina LaMonica and Cheryl Pester of NAI Capital Commercial’s Investment Services represented the seller in the deal.
Los Angeles — Seven new tenants are set to open at West Harbor, a 42-acre mixed-use dining and entertainment development along Southern California’s historic LA Waterfront in Los Angeles. New tenants include Yamashiro, a Japanese-fusion restaurant; Mike Hess Brewing, an independent craft brewery; Hopscotch, an art gallery with 17,000 square feet of gallery and lounge space; Poppy + Rose, a restaurant that serves country-inspired brunch food; Sugar Factory, a candy store; an undisclosed Mexican restaurant; and Jay Bird’s Chicken, a Nashville-style hot chicken restaurant. Retail Insite brokered the leasing transactions.
Lake Forest, Calif. — Marcus & Millichap has arranged the sale of Lake Forest Center, a shopping center located at 20761 Lake Forest Drive in Lake Forest. A California-based private family trust sold the asset to a Maryland-based private investor for $5.7 million. The multi-tenant property features 17,244 square feet of retail space. Orbell Ovaness, Ara Rostamian and Peter Xiao of Marcus & Millichap’s Los Angeles office represented the seller and buyer in the deal.
Fountain Valley, Calif. — Paragon Commercial Group and Canyon Partners Real Estate have purchased Village Center, a multi-tenant shopping center located in Fountain Valley. An undisclosed seller sold the asset for $14.8 million. Originally built in 1965 and owned by the same family until this purchase, Village Center features 92,386 square feet of retail space. Current tenants include Big Lots, Rite-Aid, Dollar Tree and Bank of America. Additionally, Sprouts Farmer’s Market is slated to join the roster as an anchor tenant. The ownership plans to implement an extensive capital improvement …
