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CaliforniaInvestment salesNewsRetailers

Hanley Investment Group Negotiates $5.6 Million Sale of Two Retail Pads in Ontario, California

by Alex Tostado

Ontario, Calif. — Hanley Investment Group Real Estate has arranged the sale of two retail pad buildings, totaling 21,591 square feet in Ontario, in two separate transactions totaling $5.6 million. The properties are part of a Walgreens-anchored neighborhood center, which was built in 2007. Kevin Fryman of Hanley Investment Group represented the seller, an Ontario-based private developer, in both transactions. In the first deal, a Southern California-based private investor acquired a two-tenant, 13,381-square-foot building, situated on 1.3 acres at 2645 E. Riverside Drive, for $3.2 million. A 7,200-square-foot O’Reilly Auto …

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CaliforniaInvestment salesNewsRetailers

SRS Directs $14.9 Million Sale of Shopping Center in Cypress

by Alex Tostado

Cypress, Calif. — SRS Real Estate Partners’ Investment Properties Group has arranged the sale of Cypress Village Shopping Center, a three-building retail asset located at 9515-9575 Valley View St. in Cypress. A Southern California-based private investor acquired the property from Cypress Village Partners LLC for $14.9 million, or $910 per square foot. Situated on 2.4 acres, a variety of restaurants and retailers occupy the 16,433-square-foot property. Current tenants include Pieology Pizzeria, 85°C Bakery Café, Burger Boss, WaBa Grill, Urban Cup and Churned Creamery. Rich Walter, Pat Kent and Parker Walter …

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CaliforniaGrocery-anchoredInvestment salesNews

Hanley Investment Group Negotiates $29.5 Million Sale of ALDI-Anchored Shopping Center in Metro Los Angeles

by Alex Tostado

South Gate, Calif. — Hanley Investment Group has negotiated the $29.5 million sale of The Crossroads at Firestone, a 53,262-square-foot, ALDI-anchored shopping center in South Gate. The property is located on six acres at 5802-5840 Firestone Blvd., 11 miles south of downtown Los Angeles. The Crossroads was built in in 2017 and was fully occupied at the time of the sale to tenants including ALDI, AT&T, Bank of America, The Buffalo Spot, Burgerim, Churroholic, Fast 5 Express Car Wash, Flame Broiler, Hiccups Restaurants Tea House, Jersey Mike’s Subs, La Michoacana …

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CaliforniaLeasingMixed-useNews

Jordan Downs Plaza Gets Four New Tenants

by Alex Tostado

Los Angeles — Nike, Smart & Final Extra, Ross Dress for Less and Blink Fitness have all signed leases at Primestor Development’s Jordan Downs Plaza, a mixed-use project in Los Angeles’ Watts neighborhood. The four retailers will occupy nearly 75 percent of the retail component of the $5 billion project. Situated on 9.5 acres, the 113,000-square-foot asset is scheduled to be complete this fall. At full build-out, the property will also offer 1,400 residential units. Financial backing for Jordan Downs is coming through the federal government through its New Market …

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CaliforniaFinanceNewsRetailers

Ready Capital Provides $20.1 Million Loan for Back Bay Center Retail/Office Building in Costa Mesa

by Alex Tostado

Costa Mesa, Calif. — Ready Capital has closed a $20.1 million loan for the acquisition, renovation and stabilization of Back Bay Center, a mixed-use retail and office property located in Costa Mesa, California. The asset features 36,630 square feet of Class B retail space and 17,210 square feet of office space. Ready Capital National Bridge Originations Team closed the non-recourse, fixed-rate loan that features an 84-month term, 48 months of interest-only payments and flexible pre-payment options.

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CaliforniaGrocery-anchoredInvestment salesNews

SRS Arranges $5.3 Million Sale of Grocery Outlet Bargain Market

by Alex Tostado

Riverside, Calif. — SRS Real Estate Partners’ National Net Lease Group has arranged the sale of a freestanding, single-tenant property located on 1.9 acres at 3490 Madison St. in Riverside, California. A Newport Beach, California-based private developer sold the property to a Newport Beach-based physician for $5.3 million. Grocery Outlet Bargain Market occupies the 17,889-square-foot retail property on a 15-year triple-net lease. Patrick Luther and Matthew Mousavi of SRS Real Estate Partners represented the seller, while Marcus & Millichap represented the buyer. Additionally, Garrett Colburn and Townsend Cropsey of SRS …

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CaliforniaInvestment salesNewsRetailers

Progressive Real Estate Arranges $3.5 Million Sale of Shops at Ramona Expressway in Southern California

by Alex Tostado

Perris, Calif. — Progressive Real Estate Partners has arranged the sale of Shops at Ramona Expressway in Perris, California. A Riverside, California-based private investor sold the asset to a Monterey Park, California-based private investor for $3.5 million. Built in 2007 and located at 780 Ramona Expressway, Shops at Ramona Expressway features 9,808 square feet of retail space. At the time of sale, the property was fully occupied. Greg Bedell of Progressive Real Estate Partners represented the seller, while Shane Delaney of Real Estate eBroker Group represented the buyer in the …

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CaliforniaFinanceNewsRetailers

George Smith Partners Arranges $101.3 Million in Financing for Shopping Center in Metro Los Angeles

by Alex Tostado

La Habra, Calif. — George Smith Partners has arranged a 101.3 million bridge loan for La Habra Marketplace, a 375,000-square-foot retail center in La Habra, 22 miles east of downtown Los Angeles. Sprouts Farmers Market and Smart & Final anchor the 37-acre property. Steve Bram of George Smith Partners represented the borrower, DJM Capital Partners Inc., in the loan transaction. The loan, which includes $96.6 million in initial funding and $4.7 million in future funding, replaces senior and mezzanine loans on the property, and was negotiated at an interest rate of …

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CaliforniaNewsRetailers

Safco Capital Acquires 1.25-Acre Retail Parcel in West Hollywood for $25.2 Million

by Alex Tostado

West Hollywood, Calif. — Safco Capital Corp. has purchased a retail parcel, located at 8330 W. Santa Monica Blvd. in West Hollywood, California. Mayfair Realty sold the asset for $25.2 million. A 17,833-square-foot Gelson’s Market occupies the building situated on the 1.25-acre site. David Swartz of Crosbie Gliner Schiffman Southard & Swanson represented the buyer in the deal, which was structured as a sale-leaseback transaction.

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CaliforniaNewsRestaurants

Hanley Investment Group Arranges $3.5 Million Sale of Building Occupied by Raising Cane’s in Southern California

by Alex Tostado

Fontana, Calif. — Hanley Investment Group has arranged the $3.5 million sale of a single-tenant building situated on 0.6 acres within a Sprouts Farmers Market-anchored retail center in Fontana, California. The 3,233-square-foot property is fully leased to a Raising Cane’s Chicken Fingers restaurant, which opened in February. Other tenants at Highland Village shopping center include Jack in the Box, Burgerim, Jersey Mike’s, Oggi’s Restaurant, Mountain View Tires, Pacific Dental and Quick Quack Car Wash. Kevin Fryman, Bill Asher and Jeff Lefko of Hanley represented the seller, Adler Realty Investments Inc., …

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