Santa Rosa, Calif. — Hanley Investment Group Real Estate Advisors has brokered the $8 million sale of a newly constructed, single-tenant property located at 136 College Ave. in Santa Rosa. Jeremy McChesney of Hanley represented the seller, California Capital Group, while Chris Fenolio of Weller Partners represented the buyer, an El Dorado Hills, California-based private investor, in the transaction. A 7-Eleven with a gas station occupies the 2,988-square-foot property on a net-lease basis.
La Palma, Redondo Beach, El Cajon, Rosamond and Modesto, Calif. — Hanley Investment Group Real Estate Advisors has arranged the sale of five single-tenant retail properties net leased to Starbucks Coffee in La Palma, Redondo Beach, El Cajon, Rosamond and Modesto. The properties were sold in five separate transactions for a combined value of $21.1 million. Bill Asher, Jeremy McChesney and Jeff Lefko of Hanley Investment Group represented the sellers of the La Palma and Redondo Beach properties. Asher and Lefko represented the sellers of the El Cajon, Rosamond and …
El Cajon, Calif. — Brixton Capital has completed the disposition of Fletcher Marketplace, a retail strip center situated on 1.9 acres at 110 Fletcher Parkway in El Cajon. A private investor acquired the asset for $11.4 million. Built in 2020, the two-building, 11,996-square-foot Fletcher Marketplace is triple-net leased to five tenants, including Mattress Firm, Dave’s Hot Chicken, The Joint Chiropractic, Urbane Café and California Fish Grill. Gleb Lvovich and Daniel Tyner of JLL Retail Capital represented the seller in the deal. Don Moser of Retail Insite provided local market support.
Baldwin Park, Calif. — JLL Capital Markets has arranged the $4.7 million sale of a single-tenant retail pad totaling 4,068 square feet in Baldwin Park. Adam Friedlander of JLL represented the seller, Paragon Commercial Group. A private buyer acquired the property. Located at 13602 Francisquito Ave., the retail property is an outparcel to Sierra Shopping Center, which is anchored by Target and Food 4 Less. Built in 2020, the property has Raising Cane’s Restaurant LLC as a tenant under a 15-year triple-net lease.
San Gabriel, Calif. — SRS Real Estate Partners has arranged the sale of a grocery-anchored retail center located at 7260 Rosemead Blvd. in San Gabriel, roughly 10 miles outside Los Angeles. A West Coast-based owner and operator sold the property to a Hong Kong-based buyer for $10.9 million. Situated on 1.8 acres, the three-tenant center was built in 1960 and renovated in 2017 and 2018. Grocery Outlet, Bank of America and Wingstop occupy the 25,510-square-foot property. Matthew Mousavi and Patrick Luther of SRS’ Investment Properties Group represented the seller in …
Carlsbad, Calif. — Tooley Interests LLC has purchased Carlsbad Village Plaza, a grocery-anchored shopping center in Carlsbad. Balboa Retail Partners sold the property for $23.5 million. Located 945-1065 Carlsbad Village Drive, the center features 58,735 square feet of retail space. Smart & Final Extra anchors the property. Pete Bethea, Rob Ippolito and Glenn Rudy of Newmark represented the seller in the deal.
Los Angeles — Matthews Real Estate Investment Services has arranged the sale of Manchester Plaza, a retail property located at 520-536 E. Manchester Ave. in Los Angeles. An undisclosed developer sold the asset to a local investor for $5.5 million, or $647 per square foot. The property offers approximately 8,500 square feet of multi-tenant retail space. Joe Nelson of Matthews handled the transaction.
Petaluma, Calif. — Paragon Commercial Group and Canyon Partners Real Estate have purchased Washington Square, a grocery-anchored shopping center located in the Sonoma County community of Petaluma for an undisclosed price. Situated on the corner of South McDowell Boulevard and East Washington Street, Washington Square features 215,761 square feet of retail space. Current tenants include Bank of America, Wells Fargo, WestAmerica Bank, Planet Fitness, Party City and Pet Food Express.
Vista, Calif. — Black Lion Investment Group has completed the sale of the fifth and final parcel of Vista Terrace Marketplace, a retail property in Vista. Crow Holdings acquired the two-acre parcel, which features 28,440 square feet of retail space, for $13.3 million. Vista Terrace Marketplace is currently 90 percent occupied by tenants including Jersey Mike’s Subs, Pacific Dental, Sports Clips and Discovery Preschool. Gleb Lvovich and Daniel Tyner of JLL’s Capital Markets team handled the transaction.
San Diego and Lake Forest, Calif. — Jack in the Box Inc. (NASDAQ: JACK) and Del Taco Restaurants (NASDAQ: TACO) have entered into a merger agreement valued at approximately $575 million, inclusive of existing debt. Under the terms of the agreement, Jack in the Box will acquire Del Taco for $12.51 per share in cash. The deal, which is expected to close in the first quarter of 2022, would yield a company with more than 2,800 restaurants across 25 states. In addition, the new entity plans to grow its store …
