California

CaliforniaFinanceInvestment salesNewsRetailers

JLL Arranges Sale, Financing of 154,750-Square-Foot Shopping Center in Southern California

by Alex Tostado

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 …

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CaliforniaInvestment salesMixed-useNewsRetailers

BrandWilson Buys Retail/Office Property in California for $18.1 Million

by Alex Tostado

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 …

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CaliforniaFinanceMallsNewsRetailers

Uber Capital Group Arranges $28.7 Million in Acquisition Financing for Sierra Vista Mall Near Fresno

by Alex Tostado

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 …

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CaliforniaInvestment salesNewsRestaurants

SRS Real Estate, Hanley Investment Arrange $5 Million Sale of New Raising Cane’s in Anaheim

by Alex Tostado

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 …

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CaliforniaGrocery-anchoredInvestment salesNewsRetailers

Donahue Schriber Purchases Two Bay Area Shopping Centers for Nearly $132 Million

by Alex Tostado

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 …

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CaliforniaInvestment salesNewsRetailers

Westside Retail Arranges $8.2 Million Sale of Freestanding Retail Building in Southern California

by Alex Tostado

Culver City, Calif. — Westside Retail has arranged the sale of a freestanding retail building, located at 4411 Sepulveda Blvd. in Culver City. Tova Capital Inc. acquired the asset from Drucker Living Trust for $8.2 million, or approximately $680 per square foot. Samy’s Camera occupies the 12,054-square-foot building. Originally built in 1989 by the owner and operator of Allied Model Trains, the building’s architecture is a replica of the historic Los Angeles Union Train Station. Mark Einbund and Marc Pollock of Westside Retail represented the seller, while Daniel Pickard of …

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CaliforniaInvestment salesNewsRetailers

Capstone Advisors Disposes of Sabre Springs Plaza Retail Center in San Diego for $6.8 Million

by Alex Tostado

San Diego — An affiliate of Capstone Advisors has completed the sale of Sabre Springs Plaza, a retail center in San Diego’s Sabre Springs community. A Southern California-based private investor acquired the property for $6.8 million. Located at the intersection of Poway Road and Springbrook Drive, the asset features 15,038 square feet of retail space. Phil Voorhees of CBRE’s National Retail Partners – West represented the seller, while Gary Stache of CBRE represented the buyer in the deal. Capstone Advisors has owned and operated the retail center since it acquired …

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CaliforniaGrocery-anchoredInvestment salesNewsRetailers

NKF Arranges Sale of 112,092-Square-Foot Shopping Center in Northern California

by Alex Tostado

Vacaville, Calif. — Newmark Knight Frank (NKF) has arranged the sale of Creekside Center, a 112,092-square-foot shopping center in Vacaville. Raley’s Supermarket anchors the center, which was fully leased at the time of sale. Creekside Center is located at 3079 Alamo Drive, three miles southeast of downtown Vacaville and 35 miles southwest of downtown Sacramento. Nicholas Bicardo and Brandon Rogoff of NKF represented the seller, Weingarten Realty Investors, in the transaction. The buyer and sales price were not disclosed.

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CaliforniaCompany newsNewsRetailers

Forever 21 Files for Chapter 11 Bankruptcy, Plans to Shutter 350 Stores Worldwide

by Alex Tostado

Los Angeles — Forever 21 Inc. has filed for chapter 11 bankruptcy in the United States Bankruptcy Court in the District of Delaware. Forever 21 intends to use these proceedings to facilitate a global restructuring that will allow the company to focus on a profitable core part of its operations. As part of its restructuring strategy, the company plans to exit most of its international locations in Asia and Europe, but will continue operations in Mexico and Latin America. The Wall Street Journal reports Forever 21 could close up to …

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CaliforniaInvestment salesNewsRetailers

Space Investment Partners Buys Westport Plaza & Square in Costa Mesa for $18.4 Million

by Alex Tostado

Costa Mesa, Calif. — Space Investment Partners has acquired Westport Plaza & Square, a leasehold retail center located at 369 E. 17th St. in Costa Mesa. Newport Beach, California-based Wohl Investment Co. sold the asset for $18.4 million. Built in 1975 and renovated in 2002 and 2018, the property features 39,000 square feet of retail space. At the time of sale, the property was 100 percent leased to a collection of eateries, restaurants and high-end clothing and furnishing boutiques. Current tenants include Etoile on 17th, Plums Café and Catering, Common …

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