California

East Palo Alto, Calif. — JLL Capital Markets has arranged the $53.2 million sale of Gateway 101, a 92,110-square-foot retail center in East Palo Alto, roughly 30 miles outside San Francisco. The property is fully leased to Target and Nordstrom Rack, and opened in 2000 as part of a larger 430,000-square-foot retail center. Bryan Ley, Eric Kathrein and Tony Ensbury of JLL represented the seller, Regency Centers Corp., in the disposition of the property to an undisclosed private foreign investor.

Camarillo, Calif. — Colliers International has arranged the $61.5 million sale of Camarillo Village Square, a grocery-anchored retail center in Camarillo. The sale is the largest retail transaction in Southern California this year, according to the broker. El Warner of Colliers International represented the seller, Donahue Schriber, in the off-market disposition. The buyer was not disclosed. Camarillo Village Square is home to tenants including Sprouts, RiteAid, Big5 and PetSmart.

Rialto, Calif. — Marcus & Millichap has brokered the $2.2 million sale of a restaurant property occupied by Rally’s in the Los Angeles suburb of Rialto. A limited liability company sold the asset to an undisclosed buyer for $2.2 million. The 1,086-square-foot property was built in 2020 and is occupied under a 15-year absolute triple-net lease. The building features double drive-thru lanes. Zack House, Mark Ruble and Chris Lind of Marcus & Millichap’s Phoenix office represented the seller, while Matthew Luchs of Marcus & Millichap’s Ontario, California, office served as …

Riverside, Calif. — Merlone Geier Partners has purchased Magnolia Tyler Center, a value-add shopping center located at 3650-3790 Tyler St. in the Inland Empire community of Riverside. A private family, which owned the property for more than 50 years, sold the center for $39.4 million. At the time of sale, the 182,653-square-foot property was 83 percent leased. Tenants include Aldi, Bob’s Discount Furniture, Big Lots, Bed Bath & Beyond, Starbucks Coffee, Olive Garden and America’s Tire. Gleb Lvovich and Daniel Tyner of JLL Retail Capital Markets represented the seller in …

Los Angeles — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged the sale-leaseback of a 28-property portfolio of net-leased Fred Meyer stores in the West. While the price was not disclosed, Marcus & Millichap’s research department claims that the sale is the largest retail transaction since the beginning of the COVID-19 pandemic. The Fred Meyer portfolio is located in Shoreline, Bellingham, Everett, Lynnwood, Longview, Vancouver, Puyallup, Richland and Tacoma, Washington; Eugene, Salem, Albany, Beaverton, Corvallis, Portland, Medford, Oregon City, Roseburg, Springfield, The Dalles and Tualatin, Oregon; …