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Esplanade-Shopping-Center-Oxnard-CA-2
CaliforniaFinanceInvestment salesNews

PSRS Arranges $54 Million Acquisition Financing for Retail Center in Oxnard, California

by Hayden Spiess

Oxnard, Calif. — PSRS has arranged $54 million in financing for the acquisition of Esplanade Shopping Center, a 357,000-square-foot shopping center in Oxnard. Kostas Kavayiotidis, Mike Davis and Matthew Farzinpour of PSRS secured the seven-year loan, including four years of interest-only payments, on behalf of the buyer through a life insurance company. Walmart, The Home Depot, T.J. Maxx, Nordstrom Rack, Bob’s Discount Furniture, Dick’s Sporting Goods, In-N-Out Burger, Chipotle Mexican Grill and BJ’s Restaurant anchor the property. 

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Rancho Las Palmas
CaliforniaGrocery-anchoredInvestment salesNews

Albanese Cormier Acquires 162,380-Square-Foot Retail Center in Southern California

by Hayden Spiess

Rancho Mirage, Calif. — Albanese Cormier has acquired Rancho Las Palmas, a 162,380-square-foot retail center located in Rancho Mirage. Amazon Fresh, In-N-Out Burger, CVS/pharmacy, Hobby Lobby, Starbucks Coffee and Wells Fargo anchor the property, which was originally built in 1980. The center was extensively renovated in 2016 and 2022. Bryan Ley of JLL Capital Markets represented the undisclosed seller in the transaction. 

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Main-Street-Village-Corona-CA
CaliforniaInvestment salesNews

Pacific Petroleum Acquires Retail Center in Corona, California for $7.8 Million

by Hayden Spiess

Corona, Calif. — Pacific Petroleum Inc. has acquired Main Street Village Center, a retail center in Corona, for $7.8 million. The property features 20,000 square feet of retail space. Alan Krueger and Vanessa Haddad of CBRE represented Pacific Petroleum and the seller, LJZ Corona LLC, in the deal.

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325-331-Marine-Ave-Newport-Beach-CA
CaliforniaInvestment salesMixed-useNews

Faris Lee, SSG Realty Corp. Arrange $4.4 Million Sale of Mixed-Use Property in Newport Beach, California

by Hayden Spiess

Newport Beach, Calif. — Faris Lee Investments and SSG Realty Corp. have arranged the $4.4 million sale of a mixed-use property located on Newport Beach’s Balboa Island. Jeff Conover, Shaun Riley, Scott DeYoung and Greg Lukosky of Faris Lee Investments, with Greg Swedelson and Jon-Eric Greene of SSG Realty Corp., represented the undisclosed buyer and seller in the transaction. Situated on two separate parcels, the property features storefront retail with two second-floor residential units. Two street-level retail shops and two residential tenants currently occupy the property. 

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Western-Plaza-Rendering_Rancho-Palos-Verdes-Calif
CaliforniaDevelopmentFinanceInvestment salesNews

Calmwater Capital Provides $12.3 Million Acquisition Financing for Retail Center in Metro Los Angeles

by Hayden Spiess

Rancho Palos Verdes, Calif. — Calmwater Capital has provided a $12.3 million loan for the acquisition and renovation of Western Plaza, a retail center located in Rancho Palos Verdes, roughly 30 miles outside Los Angeles. Tenants at the property include The Habit, California Fish Grill, Urbane Café and Mattress Firm. The buyer, West Hive, plans to demolish one of the three existing buildings at the center and construct a 3,000-square-foot outdoor patio to serve the food-and-beverage concepts at the property. Other planned renovations include improvements to storefronts and facades, new signage …

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Saluhall_San-Francisco
CaliforniaNewsRestaurants

Ingka Centres Opens 23,000-Square-Foot Food Hall in San Francisco

by Hayden Spiess

San Francisco — Ingka Centres has opened a 23,000-square-foot food hall at Meeting Place in San Francisco, a 256,000-square-foot IKEA-anchored shopping center owned by the company. Vendors at the food hall, dubbed Saluhall, include Taqueria La Venganza, MOMO Noodle, KAYMA Algerian Eater, Curry Up Now and Casa Boriqueña. KERB will operate the venue, which features a focus on plant-forward cuisine. 

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La-Canada-Flintridge-Town-Center-LA-CA
CaliforniaFinanceNews

CBRE Arranges $36.4 Million in Financing for La Canada Flintridge Town Center in Los Angeles

by Hayden Spiess

Los Angeles — CBRE has secured $36.4 million in post-acquisition financing for the recapitalization of the purchase of La Canada Flintridge Town Center in Los Angeles. Target anchors the 115,939-square-foot property, which was 96.7 percent occupied at the time of financing. Other tenants at the center include HomeGoods, Panera Bread, Habit Burger and Taylor’s. Shaun Moothart, Bruce Francis, Bob Ybarra, Doug Birrell, Nick Santangelo and Jim Korinek of CBRE arranged the seven-year, full-term interest-only loan on behalf of the borrower, TRC.

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East-Washington-Place_Petaluma-Calif
CaliforniaLeasingNews

Bath & Body Works to Open 4,260-Square-Foot Store in Petaluma, California

by Hayden Spiess

Petaluma, Calif. — Bath & Body Works will open a 4,260-square-foot store at East Washington Place, a 343,000-square-foot shopping center located in Petaluma. Scheduled to open April 12, the store will be situated next to BevMo! Other tenants at the property include Dick’s Sporting Goods, Chipotle Mexican Grill, HomeGoods, PetSmart, Ulta Beauty, Target and T.J.Maxx. 

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Beverly-Palm-Plaza_Beverly-Hills-Calif
CaliforniaInvestment salesNews

Kennedy Wilson Brokers $12.5 Million Sale of Shopping Center in Beverly Hills

by Hayden Spiess

Beverly Hills, Calif. — Kennedy Wilson Brokerage, a division of Kennedy-Wilson Properties, has brokered the $12.5 million sale of Beverly Palm Plaza, a shopping center located in Beverly Hills. The 11,484-square-foot property was fully leased at the time of sale. Tenants at the center include Supercuts, Domino’s Pizza, Sushi Sasabune, Bodhi Thai, Crazy Fish, Traveling Tikes and Zeglio Custom Clothier. Ed Sachse, Kyle Fishburn and Jack Nathan of Kennedy Wilson Brokerage represented the seller, DSC America Inc., in the transaction. 

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Esplanade-Shopping-Center_Oxnard-Calif
CaliforniaGrocery-anchoredInvestment salesNews

Primestor Acquires Retail Center in Oxnard, California for $90 Million

by Hayden Spiess

Oxnard, Calif. — Primestor Development has acquired Esplanade Shopping Center, a 357,000-square-foot retail center located in Oxnard, for $90 million. The Home Depot, Nordstrom Rack, Staples, Dick’s Sporting Goods, T.J. Maxx and Walmart Neighborhood Market anchor the property, which was 94 percent occupied at the time of sale. Other tenants at the center include Cost Plus World Market, Tilly’s, Boot Barn, In-N-Out Burger and BJ’s Brewery and Restaurant. 

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