Paramus, N.J. and Los Angeles — Pinstripes Inc. will open two new locations at Westfield Garden State Plaza in Paramus and Westfield Topanga in the Los Angeles area. Both centers are owned by Unibail-Rodamco-Westfield. Pinstripes is a bocce and bowling entertainment facility that also features fine dining and a full bar. The concept will open at Westfield Garden State Plaza in late 2022, offering made-from-scratch dining and gaming. Pinstripes will join the center’s dining and entertainment line-up, which includes Arena Stem, a retail entertainment concept; AMC theater; and restaurants including …
San Diego, Calif. — Newmark Merrill Cos. has hired Barret Bradley as vice president of acquisitions and development for the company’s San Diego division. In his new role, Bradley will be responsible for sourcing and overseeing the acquisition of existing retail properties, in addition to identifying and managing new development projects within San Diego County, South Orange County and South Riverside County. Prior to joining Newmark Merrill, Bradley worked on the development and acquisitions team at CenterCal Properties.
Rancho Cucamonga, Calif. — Progressive Real Estate Partners has arranged the sale of a single-tenant retail property located at 6644 Carnelian St. in Rancho Cucamonga. A Santa Barbara County, California-based private investor sold the property to a San Bernardino County, California-based private investor for $3.3 million. Greg Bedell of Progressive Real Estate Partners represented both parties in the transaction. Originally built as Pomona First Federal Bank in 1979, the 4,278-square-foot location was acquired by US Bank in 2008 and has operated continuously as a bank for the past 42 years.
Fontana, Calif. — Hanley Investment Group Real Estate Advisors has arranged the $3.3 million sale of a single-tenant retail building occupied by Sit ‘n Sleep in Fontana. Kevin Fryman, Bill Asher and Jeff Lefko of Hanley Investment Group represented the seller, Adler Realty Investments, in the transaction. The buyer, a private 1031 exchange investor based in the Inland Empire, purchased the property. The 8,400-square-foot Sit ‘n Sleep store is situated within Highland Village Shopping Center. The center is home to tenants including Sprouts Farmers Market, Jack in the Box, Raising …
Eastern Real Estate, Atlas Capital Group Acquire 466,000-Square-Foot Eagle Rock Plaza in Los Angeles
Los Angeles, Calif. — Eastern Real Estate and Atlas Capital Group have acquired Eagle Rock Plaza, a 466,000-square-foot regional shopping center located in the Eagle Rock neighborhood of Los Angeles, for an undisclosed price. The center is anchored by Target, Macy’s, Seafood City and Fitness 19. Bill Bauman and Kyle Miller of Newmark represented the undisclosed seller in the transaction.
Temecula, Calif. — Progressive Real Estate Partners has arranged the sale of a Rancho Car Wash-occupied retail asset located at 27378 Jefferson Ave. in Temecula. The property traded hands for $6 million. Victor Buendia of Progressive Real Estate Partners represented the buyer and seller, both of which are Los Angeles County-based private investors, in the transaction. Established in 1988, Rancho Car Wash offers full-service hand car washes, auto detailing services and an oil and lube center. The transaction included both the business and real estate and the buyer plans to …
North Bethesda, Md. — Federal Realty Investment Trust has acquired four retail properties in California, Virginia and Arizona totaling 1.75 million square feet. Acquisitions include Grossmont Shopping Center, located 10 miles outside San Diego in La Mesa, California; Camelback Colonnade and Hilton Village, both located in the Phoenix metropolitan area; and Chesterbrook Shopping Center, located 10 miles outside Washington, D.C., in McLean, Virginia. Federal Realty will own 80 percent interest in the four properties, which occupy 125 acres of land valued at $407 million. The 925,000-square-foot Grossmont Shopping Center was …
Irvine, Calif. — TRADE Marketplace in Irvine has added three restaurants to its tenant mix including Champion’s Curry, SmörBurgers and Yomie Yogurt. Champion’s Curry opened earlier this year. The restaurant serves Chef Yoshikazu Tanaka’s spin on traditional curry recipes and related dishes. SmörBurgers — a restaurant concept by Chef Joe Youkhan serving hamburgers and fries inspired by international dishes — is set to open in June. Yomie Yogurt, which sells healthy yogurt, is also set to open this summer.
Los Angeles — PSRS has arranged a $40 million refinancing for La Alameda Shopping Center, a 244,554-square-foot retail plaza located in Los Angeles. Kostas Kavayiotidis, Mike David and Jacob Lee secured the financing for the undisclosed borrower. The non-recourse loan features 10 years of interest-only payments. Built in 2008, La Alameda Shopping Center consists of six one- and two-story building clusters offering a total of 226,826 square feet of retail space and 17,728 square feet of office space on 18.3 acres. The multi-tenant property also features pedestrian-friendly courtyards, plaza spaces, …
Los Angeles — Soccer team Paris Saint-Germain (PSG) has opened a permanent retail store within Westfield Century City Mall in Los Angeles in partnership with apparel retailer Fanatics. The sports club is expanding its global retail presence with plans to open several new stores in key international markets, beginning with the Los Angeles location. The store openings form part of a 10-year retail and merchandising deal signed between PSG and Fanatics in 2020. Fanatics, which is part owner of Lids, will tap into Lids’ physical retail experience to open and …