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Redondo-Plaza-Gardena-Calif
CaliforniaGrocery-anchoredInvestment salesNews

JLL Arranges $15.1 Million Sale of Shopping Center in Gardena, California

by Hayden Spiess

Gardena, Calif. — JLL Capital Markets has brokered the sale of Redondo Plaza, a 28,000-square-foot retail center located in Gardena. Gleb Lvovich, Daniel Tyner, Geoff Tranchina and Bryan Ley of JLL represented the seller, Storm Properties, in the $15.1 million transaction. JLL also procured the private, 1031-exchange buyer. Redondo Plaza, which was 100 percent leased at the time of sale, is anchored by Aldi. Tenants include Domino’s Pizza, T-Mobile, Jackson Hewitt, Super Laundry and Crazy Rock’n Sushi.

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12005-Central-Ave-Chino-CA
CaliforniaInvestment salesNewsRestaurants

SRS Real Estate Partners Negotiates Sale of Two Retail Properties in Chino, California

by Hayden Spiess

Chino, Calif. — SRS Real Estate Partners has arranged the sales of two single-tenant retail buildings that are outparcels to Country Fair Shopping Center, a 168,000-square-foot shopping center located in Chino. Separate California-based private investors acquired the assets from a Southern California-based private investor for a total of $6.2 million. Quick-service-restaurants Wienerschnitzel and Carl’s Jr. occupy the two buildings. Built in 1976, the 1,600-square-foot, Wienerschnitzel-occupied building sold for $2.4 million. The tenant has approximately seven years remaining on its corporate lease. Constructed in 2016, the 3,796-square-foot Carl’s Jr.-occupied property sold …

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1821-1871-S-San-Jacinto-Ave-San-Jacinto-CA
CaliforniaFaris Lee InvestmentsInvestment salesNewsRestaurants

Faris Lee Brokers $10.5 Million Sale of Two Retail Outparcel Buildings in San Jacinto, California

by Hayden Spiess

San Jacinto, Calif. — Faris Lee Investments has arranged the sale two outparcel retail buildings located in San Jacinto. A northern California-based buyer in a 1031 exchange acquired the properties from an undisclosed seller for $10.5 million. Jeff Conover and Scott DeYoung of Faris Lee Investments represented the seller, while Keegan & Coppin represented the buyer in the deal. The 14,883-square-foot property is home to tenants including GameStop, Great Clips, Wing Stop and T-Mobile.

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Shops-Palm-Promenade-San-Diego-CA
CaliforniaInvestment salesNewsRestaurants

Citivest, Hutensky Sell The Shops at Palm Promenade in San Diego for $41.5 Million

by Hayden Spiess

San Diego — A partnership between Citivest and Hutensky Capital Partners has sold portions of The Shops at Palm Promenade, a newly constructed shopping center in San Diego, for a combined value of $41.5 million. El Warner, Caitlin Zirpolo, Charley Simpson, Jordan Gomez and Alyssa Mera of Colliers’ Orange County-based National Retail Capital Markets team represented the sellers in the transactions. A private exchange buyer acquired 765, 762, 764, 780 and 804 Dennery Road for a total of $25.8 million. Chick-fil-A, Starbucks Coffee, Jersey Mike’s Subs and The UPS Store …

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1300-E-Valley-Blvd-Alhambra-CA
CaliforniaFinanceInvestment salesNews

SBH Real Estate Group Sells Raising Cane’s-Occupied Property in Alhambra, California for $8.2 Million

by Hayden Spiess

Alhambra, Calif. — SBH Real Estate Group has completed the disposition of the ground lease for a single-tenant restaurant building located in Alhambra. A Southern California-based private investor acquired the asset for $8.2 million. Raising Cane’s Chicken Fingers occupies the 3,957-square-foot property, which is situated on 1.4 acres at 1300 E. Valley Blvd. The newly developed building features the restaurant’s latest prototype design and opened for business in June 2022. The property offers a double drive-thru and includes a 704-square-foot outdoor patio area. Matthew Mousavi and Patrick Luther of SRS …

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12547-Hawthorne-Blvd-Hawthorne-CA
CaliforniaFaris Lee InvestmentsInvestment salesNet leaseNews

Faris Lee Negotiates $11.1 Million Sale of Bank of America-Occupied Retail Building in Metro Los Angeles

by Hayden Spiess

Hawthorne, Calif. — Faris Lee Investments has arranged the sale of a retail building located at 12547 Hawthorne Blvd. in Hawthorne, roughly 15 miles outside Los Angeles. An Orange County-based private office group sold the property to the City of Hawthorne for $11.1 million. Bank of America occupies the 12,919-square-foot, single-tenant building on an absolute triple-net lease. Shaun Riley, Jeff Conover and Scott DeYoung of Faris Lee Investments represented the seller, while Chris Beck of Newmark Knight Frank represented the buyer in the deal.

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Mesa-College-Square-San-Diego-CA
CaliforniaInvestment salesNews

CEG Capital Partners Buys Mesa College Square Shopping Center in San Diego for $10.5 Million

by Hayden Spiess

San Diego — CEG Capital Partners has purchased Mesa College Square, a retail center at 7604-7608 and 7612 Linda Vista in San Diego. M.C. Square and AFJR Partnership sold the property for $10.5 million. Marc Posthumus and Evan McDonald of Colliers represented the buyer, while Posthumus and McDonald, along with Byram Frost of Big Block Realty, represented the sellers in the transaction. Robert Shaw and Cameron Aldrich of Chicago Title Co. provided escrow and title services. Mesa College Square features 25,409 square feet of multi-tenant retail space. The acquisition is …

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Shops-AMC-Palm-Promenade-San-Diego-CA
CaliforniaFinanceInvestment salesNews

Marcus & Millichap Arranges $13.1 Million Acquisition Financing for The Shops at AMC Palm Promenade in San Diego

by Hayden Spiess

San Diego — Marcus & Millichap Capital Corp. (MMCC) has arranged a $13.1 million loan for the acquisition of The Shops at AMC Palm Promenade, a retail power center located at 756-804 Dennery Road in San Diego. Chad O’Connor of MMCC San Diego secured the financing for the undisclosed borrower. The seven-year, fixed-rate loan has a 5.125 percent interest rate, 30-year amortization and a 60 percent loan-to-value ratio. The seller was not disclosed. Renovated in 2021, the 72,390-square-foot shopping center is located at the on/off ramp of Interstate 805 and …

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Loma-Linda-Plaza-California
CaliforniaGrocery-anchoredLeasingNews

Progressive Real Estate Partners Executes Lease for 20,100-Square-Foot Space in Loma Linda, California

by Hayden Spiess

Loma Linda, Calif. — Progressive Real Estate Partners has arranged a lease with Fitness 19 at Loma Linda Plaza, located in Southern California’s Inland Empire. Fitness 19 will take over a 20,100-square-foot space at the development, which is anchored by Stater Bros. Markets. Paul Su of Progressive represented the lessor, and Chris Beauchamp of Lee & Associates represented Fitness 19. Other tenants at the 117,000-square-foot center include Chevron, H & R Block, Carl’s Jr., Papa John’s Pizza and Boba Tea House.

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ocVIBE-Anaheim-CA
CaliforniaDevelopmentMixed-useNews

Anaheim City Council Approves $4 Billion ocV!BE Mixed-Use Entertainment District Surrounding Honda Center

by Hayden Spiess

Anaheim, Calif. — The Anaheim City Council has approved plans for the $4 billion ocV!BE mixed-use entertainment district to surround the Honda Center, home of the NHL’s Anaheim Ducks. With this approval, construction of the project is scheduled to begin before the end of the year. Plans for the 95-acre development call for a 5,700-seat concert hall, 50,000-square-foot market hall, 20 acres of public space, two hotels totaling 650 rooms, approximately 1.1 million square feet of office space and 1,500 apartments with a 15 percent affordable housing component. The site …

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