Sacramento, Calif. — Irvine, California-based Pacific Castle Management has sold Strawberry Creek, a shopping center in Sacramento. A local private investment group acquired the property for $20.9 million. Constructed in 2007 on 7.4 acres, the four-building property features 57,373 square feet of retail space. Edward Nelson and Nicholas Scelsa of Marcus & Millichap represented the seller and procured the buyer in the deal.
Orange, Calif. — Newmark Knight Frank (NKF) has negotiated the sale of a single-tenant retail property located at 1809 W. Chapman Ave. in Orange. A Southern California-based family trust acquired the property from Orange County, California-based Adray Plaza for $8.8 million in a 1031 exchange. Fresenius Medical Care, a dialysis clinic, occupies the 21,000-square-foot property on an absolute, triple-net lease basis. Glenn Rudy and Rob Ippolito of NKF represented the seller, while Matthew Graham of Graham & Associates represented the buyer in the deal.
Long Beach, Calif. — Hanley Investment Group Real Estate Advisors has brokered the sale of high-street, multi-tenant retail property located at 5354 E. Second St. in Long Beach’s Belmont Shore neighborhood. A Jackson, Wyoming-based private investor sold the asset to a Long Beach-based private investor for $5 million. Built in 1952, the two-story building features 8,991 square feet of retail space. At the time of sale, the property was 100 percent leased. Current tenants include Arthritis National Research Foundation, Jonnum Media, The Flynn Group and FEA Consulting. Kevin Fryman, Carlos …
Escondido, Calif. — Lee & Associates–North San Diego County has arranged the sale of a retail asset located in Escondido. Malakooti & Kaikavoosnejad Revocable Trust sold the property to Goodwill Industries of San Diego for $6.1 million. Located at 315 W. Washington Ave., the building features 17,908 square feet of retail space. The property is situated on a 2.1-acre lot adjacent to City Hall and the California Center for the Arts. Michael Golden of Lee & Associates–North San Diego County represented the seller, while Bryan Cunningham of Flocke & Avoyer …
San Marcos, Calif. — San Diego-based SENTRE Inc. has purchased San Marcos Village, a neighborhood retail center located in San Marcos. A San Diego-based joint venture partnership sold the property for $19.2 million. At the time of sale, the grocery-anchored center was 92 percent leased to a variety of tenants, including Grocery Outlet, 99 Cents Only Store and AutoZone. Philip Voorhees, Reg Kobzi, Preston Fetrow and Eric Shain of CBRE National Retail Partners-West represented both parties in the transaction. Scott Peterson, Bill Chiles, Brian Cruz and Morgon Fraser of CBRE’s …
Signal Hill, Calif. — JLL has facilitated the sale of Towne Center East, fully leased retail center in Signal Hill. BIG Shopping Centers USA sold the asset to an institutional buyer for an undisclosed price. Additionally, JLL placed the fixed-rate acquisition loan with a global investment bank. Situated on nearly 15 acres at 2172-2598 Cherry Ave., Towne Center East features 154,750 square feet of retail space. Tenants include The Home Depot, PetSmart, Supercuts, T-Mobile, Subway, GNC, Chinese Combo and Tutti Frutti Yogurt, among others. Patrick Toomey and Tom Lagos of …
Glendale, Calif. — A private investor operating under the entity of BrandWilson LLC has purchased a mixed-use property located at 201 N. Brand Blvd. in Glendale. Bow Truss Capital sold the asset for $18.1 million. Warren Berzack and Slavic Zlatkin of Lee & Associates — LA North/Ventura represented the buyer, while Trevor Carl Nelson of Newmontis Real Estate Investment Management represented the seller in the deal. The Woolworth Building was recently renovated. The 43,437-square-foot property comprises a storefront retail space on the ground floor and office space on the second …
Clovis, Calif. — Great Neck, New York-based Uber Capital Group has secured a $28.7 million acquisition loan for the purchase of Sierra Vista Mall, located at 1050 Shaw Ave. in Clovis, a suburb of Fresno. The borrower is a private national commercial real estate investment group based in New York. The lender was not disclosed. Joel J. Gorjian, president and founder of Uber Capital Group, sourced the 10-year, fixed-rate loan, which features 15-year full amortization and partial recourse. Totaling 690,487 square feet, Sierra Vista Mall is occupied by 75 tenants …
Anaheim, Calif. — SRS Real Estate and Hanley Investment Group have arranged the $5 million sale of a new Raising Cane’s Chicken Fingers in Anaheim. The 3,233-square-foot, freestanding building was delivered in late August and is located at 223 S. Euclid Ave., two miles west of downtown Anaheim. The property is situated at the entrance to a Target-anchored shopping center. Bill Asher and Jeremy McChesney of Hanley Investment represented the buyer, a private investor from Los Angeles, in the transaction. Patrick Luther and Matthew Mousavi of SRS Real Estate represented the …
San Francisco And Antoich, Calif. — Donahue Schriber has acquired two grocery-anchored retail centers for a total of nearly $132 million. The acquisitions expand the company’s presence in the San Francisco Bay area. In the first deal, Donahue Schriber purchased Lakeshore Plaza in San Francisco. Located at 1549 Sloat Blvd., the 172,364-square-foot center was built in 1993 and serves the Sunset District, West Portal and Saint Francis Wood. Lucky, Ross Dress for Less, Petco and Big 5 Sporting Goods anchor the retail property. This acquisition represents the company’s second purchase …
