California

DJM Receives $24.5 Million in Equity for Lido Marina Village Renovation

by Julia Sanders April 8, 2021

Newport Beach, Calif. — DJM has received $24.5 million in new equity from Arc Capital Partners for the recapitalization of Lido Marina Village, a 116,000-square-foot waterfront retail and office property located on the Balboa Peninsula in Newport Beach. The new equity comes on the heels of a $46.5 million loan from Prime Finance, which brings DJM’s total recapitalization to $71 million. The capital will be used to pay off an existing loan and complete property renovations. Steven Bram, David Pascale and Patrick O’Donnell of George Smith Partners arranged the financing, …

April 8, 2021

California Investment sales News

Yosemite Properties Sells Whitmore Plaza Shopping Center in Ceres, California

by Julia Sanders March 30, 2021

Ceres, Calif. — Yosemite Properties has completed sale of Whitmore Plaza, a shopping center located at 2517-2617 Mitchell Road and 2908-2920 E. Whitmore Ave. in Ceres. Save Mart Portfolio Owner NLP CA LLC acquired the center from Yosemite Properties for $18.4 million. Save Mart grocery store and Planet Fitness anchor the 115,396-square-foot property. Greg Aguirre of Capital Rivers Commercial and Jeff Lefko of Hanley Investment Group Real Estate Advisors represented the seller in the transaction.

March 30, 2021

California Investment sales News

Marcus & Millichap Arranges Sale of Two Shopping Centers in Vista, California for $18.3 Million

by Julia Sanders March 26, 2021

Vista, Calif. — Marcus & Millichap has arranged the sale of two shopping centers in Vista, the Shops at Vista Terrace Marketplace and Santa Fe Crossroads. Ron Duong of Duong Retail Group represented the buyers in both transactions which totaled $18.3 million in value. Rick Puttkammer represented the seller for Santa Fe Crossroads.

March 26, 2021

California Faris Lee Investments Investment sales News

Faris Lee Investments Brokers $22.6 Million Sale of Central Plaza Shopping Center in Lake Elsinore, California

by Julia Sanders March 26, 2021

Lake Elsinore, Calif. — Faris Lee Investments has arranged the $22.6 million sale of Central Plaza Shopping Center in Lake Elsinore, with the $2.8 million sale of Ulta Beauty as the last piece of the break-up strategy for asset. The seller was HFC/PRP Elsinore LLC. The Faris Lee team arranged the sale of a total of seven different properties within the center to seven different buyers. The transactions include a single-tenant, net-leased Marshalls; a single-tenant, net-leased Panera Bread with a drive-thru; a two-tenant pad site occupied by Pieology and Ono …

March 26, 2021

California Faris Lee Investments Investment sales News

Faris Lee Investments Arranges Three Sales Totaling $24.8 Million in California

by Julia Sanders March 26, 2021

Cypress, Santa Ana and Chino Hills, Calif. — Faris Lee Investments has arranged three off-market acquisitions: Meridian Plaza, a multi-tenant retail center anchored by Dollar Tree in Cypress, a Starbucks in Santa Ana and a strip center in Chino Hills. Nick Miller and Shaun Riley of Faris Lee Investments represented a 1031 exchange Orange County-based family office buyer in all three transactions. Meridian Plaza, is a 28,500 square feet property fronting Katella Avenue. The property’s tenants including Starbucks, Dollar Tree, H&R Block and Wienerschnitzel. The buyer acquired the property for …

March 26, 2021

California Faris Lee Investments Grocery-anchored Investment sales News

Faris Lee Arranges the $23.4 Million Sale of Grocery-Anchored Center in Palm Springs, California

by Julia Sanders March 25, 2021

Palm Springs, Calif. — Faris Lee Investments has arranged the $23.4 million sale of Gene Autry Plaza, a Smart & Final grocery-anchored property located adjacent to the Palm Springs Airport and Gene Autry Business District in Palm Springs. Don MacLellan & Rick Chichester of Faris Lee Investments represented the seller, Investec Real Estate Cos., and undisclosed buyer in the transaction. The property is 98 percent occupied by a mix of tenants including food, fitness and health operators.

March 25, 2021

California Company news News

American Eagle Outfitters to Open Nine Aerie, OFFLINE Locations in Westfield Shopping Centers

by Julia Sanders March 23, 2021

Los Angeles — American Eagle Outfitters Inc. (AEO) has announced plans to open seven Aerie stores and two OFFLINE by Aerie locations at Unibail-Rodamco-Westfield centers during the second half of 2021. The new Aerie stores will open at Westfield Garden State Plaza in Paramus, New Jersey; Westfield Montgomery in Bethesda, Maryland; Westfield Old Orchard in Skokie, Illinois; Westfield Plaza Bonita in National City, California; Westfield Southcenter in Seattle; Westfield South Shore in Bay Shore, New York; and Westfield Valley Fair in San Jose, California. The locations at Westfield Garden State …

March 23, 2021

California Finance News

George Smith Partners Arranges $45.6 Million Loan for Lido Marina Village in Newport Beach

by Julia Sanders March 22, 2021

Newport Beach, Calif. — George Smith Partners has arranged $45.6 million in bridge financing on behalf of DJM Capital for the recapitalization of Lido Marina Village, a multi-block, waterfront retail and office property on Balboa Peninsula in Newport Beach. Lido Marina Village features 106,000 square feet of retail, restaurant and office space in 14 separate structures, including waterfront retail and restaurant space, as well as 47 boat slips. Current tenants include Nobu, Malibu Farm, Elysse Walker, LoveShakeFancy, Serena & Lily and Jenni Kayne. Steve Bram, David Pascale and Patrick O’Donnell …

March 22, 2021

California Investment sales News

Marcus & Millichap Arranges $22.5 Million Sale of Smart & Final Grocery Store in Metro Los Angeles

by Julia Sanders March 18, 2021

Westlake Village, Calif. — Marcus & Millichap has arranged the sale of a Smart & Final grocery store located 40 miles outside Los Angeles in Westlake Village. The triple-net-leased asset sold for $22.5 million. The property totals 50,242 square feet with Smart & Final as the main tenant. However, 12,500 square feet is subleased to Dollar Tree on a 10-year, triple-net lease, with Smart & Final responsible for all aspects of the lease. Lior Regenstreif of Marcus & Millichap represented the seller, Riverside Villas LLC, in the transaction. The Smart …

March 18, 2021

California Investment sales News

Forward One Buys CVS-Occupied Property in Metro Los Angeles for $7.7 Million

by Julia Sanders March 18, 2021

La Verne, Calif. — Forward One has purchased a retail property located at 1479 Foothill Blvd. in the Los Angeles suburb of La Verne. New Jersey-based Arctrust sold the asset for $7.7 million in an off-market transaction. CVS/pharmacy anchors the 26,500-square-foot building, which is situated on 1.6 acres. Anton Qiu of Anchor Pacific Capital represented the buyer, while David Kern of The Mansour Group represented the seller in the deal.

March 18, 2021

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