El Centro, Calif. — CBL Properties has sold Imperial Valley Mall, a 762,695-square-foot regional mall located in El Centro, for $38.1 million. The property served as collateral under a non-recourse term loan held by CBL, where net proceeds from the sale were applied to the term loan’s principal balance. The shopping center — which opened in 2005 — is anchored by Dillard’s, JCPenney, Macy’s and Cinemark, and features a food court, more than 100 specialty shops and dining and entertainment options. CBL & Associates manages the retail center.
Santa Clarita, Calif. — Gantry has arranged two loans totaling $46.5 million for the financing of The Plaza at Golden Valley, a 600,000-square-foot power center in Santa Clarita, 30 miles north of Los Angeles. The non-recourse loans carry a fixed-rate, 10-year term with a 30-year amortization schedule. Gantry will service the loans. The center is shadow-anchored by Target, Lowe’s and Kohl’s. Other tenants at the property include Trader Joe’s, Staples, BevMo!, T.J. Maxx, Panera Bread, Chili’s Grill & Bar, PetSmart, Popeyes, McDonald’s, Chipotle, Bath & Body Works, Daiso, The Habit …
Grand Terrace and Lodi, Calif. — Hanley Investment Group has brokered the sale of two newly-constructed, single-tenant properties totaling $5.4 million in California. Quick Quack Car Wash occupies each property on a 20-year triple-net lease basis. The Quick Quack Car Wash located in Grand Terrace sold for $2.7 million. Bill Asher and Jeff Lefko of Hanley represented the seller and developer, 5th Street Development, in the transaction. Patrick Toomey of IPA represented the buyer, a Pasadena-based private investor. The car wash is an outparcel to a Stater Bros. Market-anchored shopping …
Arcadia, Calif. — DAUM Commercial Real Estate Services has arranged the sale of a 5,000-square-foot restaurant space in Arcadia, roughly 13 miles northeast of downtown Los Angeles. Dream1212 LLC, the owner of Mama Lu’s Dumpling House, acquired the property from an undisclosed seller for $4 million. The Arcadia property serves as Mama Lu’s sixth location. This acquisition is part of an expansion of the Chinese restaurant chain, with openings in Beverly Hills and Las Vegas planned for early 2025. Rudy Lara, Nathan Lara and Nick Peukpiboon of DAUM represented the …
Costa Mesa, Calif. — Liberated Brands, a licensed operator of several sport, outdoor and lifestyle apparel brands, has initiated Chapter 11 bankruptcy proceedings, according to court documents filed in Delaware. Liberated Brands’ retail portfolio of brands includes Volcom, Billabong, Quiksilver, ROXY, Honolua Surf, RVCA, Beachworks, Becker Surfboards, ZJ Boarding House, Spyder and Boardriders. According to Gordon Brothers, which is providing real estate advisory services to the retailer, Liberated Brands plans to close its 122 stores throughout the country. Gordon Brothers — which earlier this year entered into a sales transaction with …
Costa Mesa, Calif. — Small business concept The LAB, dubbed the anti-mall, has launched a renovation of its anchor space that will create room for new retailers. February 1 began the renovation process of the anchor space, a former Urban Outfitters store, which will accommodate several local businesses. Current tenants at the property include Habana, Buffalo Exchange, Seabirds Kitchen, Eco Now, Nook Coffee, Kuro Artisanal Pizza and Hanare. The new retail space is scheduled to open at the end of 2025. The LAB Anti-Mall — founded in 1993 — is …
Rancho Cucamonga, Calif. — Hanley Investment Group has arranged the $6.2 million sale of two freestanding buildings in Rancho Cucamonga, in the Inland Empire area of Southern California. The properties — which are situated on a 1.3-acre-parcel — include a 2,508-square-foot Chipotle Mexican Grill and a 4,000-square-foot Starbucks Coffee drive-thru. Originally built in 2003, Chase Partners Ltd, fully renovated the property, which included a 2,500-square-foot expansion of Starbucks Coffee. Chipotle, which recently extended its property lease an additional five years, has nine total years remaining on its lease. Starbucks Coffee …
San Diego — JLL Capital Markets has negotiated the sale of a 9.3-acre redevelopment site comprising a 185,051-square-foot former department store within Mission Valley Mall in San Diego. A joint venture between Jofa Capital and BLT Enterprises acquired the property from a private seller for an undisclosed price. Daniel Tyner, Gleb Lvovich and Geoff Tranchina of JLL represented the seller in the deal.
Rancho Cordova, Calif. — Hanley Investment Group has brokered the $6.1 million sale of Shops II at Anatolia Marketplace, a multi-tenant retail pad in Rancho Cordova, approximately 13 miles from Sacramento. Built in 2023, the 9,000-square-foot property is situated on two acres. Tenants at the property — which was fully leased at the time of sale — include Anatolia Dental Group, Round Table Pizza and Livewell Pet Hospital. Bill Asher and Jeff Lefko of Hanley represented the seller, an entity doing business as Anatolia Marketplace, LLC. Frank Vora of Lee …
Colton, Calif. — Progressive Real Estate Partners has brokered the $5.2 million sale of a single-tenant retail property located in Southern California’s Inland Empire occupied by a Mobil Gas Station. Victor Buendia of Progressive represented both the undisclosed seller and buyer, an Inland-Empire-based private investor, in the transaction. The buyer plans to renovate the convenience store.