California

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.

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.

Long Beach, Calif. — Tourmaline Capital has purchased Marina Center, a retail strip center located at 6200-6252 Pacific Coast Highway in Long Beach. A private investor who owned the asset for more than 23 years sold the property for $16.2 million. The 32,757-square-foot center was 84 percent leased at the time of sale to tenants including Ortho Mattress, Belmont Shore Veterinary Hospital, Subway, Image Rx, Audio Concepts, Lavender Nails, Golden State Tanning, Honey’s Cleaners, Enrique’s Mexican Restaurant and First Bank. Gleb Lvovich and Daniel Tyner of JLL Retail Capital Markets …

Cerritos, Calif. — Pinnacle Real Estate Advisors has brokered the $14.8 million sale of a retail center located at 12221-17312 Norwalk Blvd. in Cerritos, roughly 19 miles south of downtown Los Angeles. The names of the seller and buyer were not disclosed. The 52,382-square-foot property is anchored by a grocery store. Peter Sengelmann, Eric Diesch and Jackson Coon of Pinnacle Real Estate Advisors represented the seller in the deal.

Novato, Calif. — Grosvenor Americas has completed the disposition of Hamilton Marketplace, a retail center located at 5800 Nave Drive in the San Francisco Bay Area community of Novato. Terms of the transaction were not released. Grosvenor originally developed the 90,769-square-foot, open-air shopping center in 2008. At the time of sale, the property was fully leased to tenants including Safeway, Pet Food Express, Super Duper, Peet’s Coffee, Wells Fargo, Toast Restaurant and Cycle Bar. Nicholas Bicardo of Newmark Retail Capital Markets represented Grosvenor in the deal.