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Retail-Pad_Riverside-Calif
CaliforniaInvestment salesNews

Hanley Brokers $5.8 Million Sale of Retail Pad Property in Riverside, California

by Hayden Spiess

Riverside, Calif. — Hanley Investment Real Estate Advisors has brokered the $5.8 million sale of a 6,300-square-foot retail pad property located in Riverside. Chipotle Mexican Grill anchors the three-tenant building, which was built in 2020 and is situated within Veteran’s Plaza. MA Dental is also open at the property, with BHC Chicken scheduled to open in October. Eric Wohl and CJ Kiehler of Hanley represented the developer and seller, Greens Development Inc., in the transaction. Justin Altemus of The Altemus Co. represented the buyer, a 1031-exchange investor. 

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Tokyo Central
CaliforniaLeasingNews

Tokyo Central to Open 40,635-Square-Foot Store at Bay Street Emeryville in California

by Hayden Spiess

Emeryville, Calif. — Tokyo Central has signed a lease at Bay Street Emeryville in Emeryville, with plans to open a 40,635-square-foot store at the newly redeveloped retail center. Owned by Pan Pacific Retail Management (PPRM), the Asian grocery concept features imported Japanese goods. Scheduled to open next year, Tokyo Central at Bay Street will also include a Japanese cuisine dining establishment. CenterCal Properties, which acquired the center in 2021, is the landlord. Other recent openings at the property include Mumu Hot Pot, Fogo de Chão, Flores Cocina & Bar, Pippal, Tipsy …

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Barnsdall-Square_Los-Angeles
CaliforniaInvestment salesNews

Reliable Properties Acquires Remainder of 92,000-Square-Foot Retail Center in Los Angeles 

by Hayden Spiess

Los Angeles — Reliable Properties has acquired a 2.9-acre parcel and a partial interest in another, 1.4-acre parcel at Barnsdall Square, a 92,000-square-foot retail center located in Los Angeles. Jeff Adkison, Bryan Ley, Rob McRitchie and Brendan McArthur of JLL represented the seller, DMDE Properties, in the transaction. Tenants at the property include Jons Marketplace Grocery Store and Rite Aid Pharmacy. Reliable previously acquired the other portions of Barnsdall Square in transactions with other sellers over the past year. Brad Nourafshan of Reliable led the firm’s acquisition efforts. 

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Bayfair-Mall-San-Leandro-CA
CaliforniaDevelopmentFinanceMixed-useNews

Colliers Arranges $33 Million Financing for Bayfair Mall Redevelopment in San Leandro, California

by Hayden Spiess

San Leandro, Calif. — Colliers Mortgage has secured a $33 million bridge loan to refinance Bayfair Mall in San Leandro. The 715,000-square-foot property is being redeveloped into a mixed-use retail power center and R&D campus in San Leandro. Shahin Yazdi, Jonathan Lee, Tommy Adelson and William Hyatt of Colliers arranged the financing, which includes a 36-month term with optional extensions, on behalf of the borrower, B3 & Gaw. The borrower’s multi-phase business plan includes closing the indoor corridors of the mall, renewing leases for existing retail tenants and filling vacancies with …

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Chipotle Rancho Cordova
CaliforniaInvestment salesNet leaseNews

Hanley Brokers $4.3 Million Pre-Sale of Single-Tenant Property Near Sacramento

by Hayden Spiess

Rancho Cordova, Calif. — Hanley Investment Group Real Estate Advisors has brokered the $4.3 million pre-sale of a single-tenant property located in Rancho Cordova, roughly 13 miles outside Sacramento. Situated on a 0.8-acre parcel within the Anatolia Marketplace shopping center, the building totals 2,325 square feet. Chipotle Mexican Grill has signed a triple-net ground lease at the property. Bill Asher and Jeff Lefko of Hanley represented the seller, an entity doing business as Anatolia Marketplace LLC, in the transaction. Chipotle is scheduled to open at the property in September.

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CaliforniaLeasingNews

Axiom Arranges Two Leases Totaling 20,128 Square Feet at Shopping Center in Southern California

by Hayden Spiess

Escondido, Calif. — Axiom Retail Advisors has arranged two leases totaling 20,128 square feet at a shopping center located in Escondido. The tenants, Dollar Tree and Big Blue Swim School, will occupy a former Big Lots property at the center, which is anchored by The Home Depot. Lea Clay Park and Stephanie Skrbin of Axiom represented the landlord, Red Mountain Retail Group, in the lease negotiations. Brian Pyke of Retail Insite represented Dollar Tree, and Andrew Shemirani of Flocke & Avoyer represented Big Blue Swim School. Red Mountain Retail Group acquired …

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Strip-Center_Riverside-Calif
CaliforniaInvestment salesNews

Progressive Brokers $3.6 Million sale of Shopping Center in Riverside, California

by Hayden Spiess

Riverside, Calif. — Progressive Real Estate Partners has brokered the $3.6 million sale of a strip shopping center totaling 7,250 square feet in Riverside. The property was fully leased at the time of sale. Greg Bedell of Progressive represented the Los Angeles-based seller in the transaction. Girges Gad of Pacific Realty & Finance represented the buyer. 

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River Street Marketplace
CaliforniaDevelopmentLeasingNews

Ten New Tenants Sign Leases at River Street Marketplace in Southern California

by Hayden Spiess

San Juan Capistrano, Calif. — Ten new tenants have signed leases at River Street Marketplace, a 60,000-square-foot retail center currently underway in San Juan Capistrano. Rowan, Tecovas, Hobie, May Martin, Studio Pilates, Parana Empanadas, Pastalia, The Sushi Stand, Kebab Craft and Capas have joined the lineup, bringing the total number of tenants to 30. ALMQUIST is the developer and landlord of the property, which is scheduled to open in September. 

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North Park Retail
CaliforniaInvestment salesNews

Marcus & Millichap Brokers Sale of 3,200-Square-Foot North Park Retail Property in San Diego

by Hayden Spiess

San Diego — Marcus & Millichap has brokered the sale of North Park Retail, a single-tenant restaurant property at 2884 University Ave. in San Diego’s North Park neighborhood. Carlos Partners LLC sold the property to an entity doing business as 1295 University Family LP for $1.9 million. Built in 1948, North Park Retail features 3,200 square feet of space. The single-tenant property was renovated in 2014 for tenant Saiko Sake and Sushi Bar’s build out. Saiko Sushi plans to close when its lease expires in October, leaving the property available for …

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CaliforniaLeasingNews

Six New Tenants Sign Leases at The District at Tustin Legacy in Southern California

by Hayden Spiess

Tustin, Calif. — Six new tenants have signed leases at The District at Tustin Legacy, a shopping center located in Tustin. Restaurants Prime Hot Pot and Curry Pizza House are now open at the center. Baby Shoppe has also opened at the property, and World of Racing, Spirit Halloween and 3CAT are scheduled to open this summer. Vestar is the landlord of the center, which was jointly developed by Vestar and Kimco. 

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