| Scottsdale Retail Center Trades for $39 Mil
We’ve got two recent AZ retail sales to report, one a $39 mil buy in Scottsdale and the other an $8 mil deal in Glendale. Together they contain about 163k sf of total space.
In Scottsdale, Global Retail Investors, out of Bet...
| Lender-Owned Phoenix Retail Center Trades for Over $15 Mil
Houston-based Whitestone REIT closed on a Phoenix retail acquisition, paying $15.37 mil for Fountain Square, a 118.2k sf ($130/sf) lender-owned shopping plaza. The property was originally developed in 1986 by Charles Keating ...
| CA Retail Briefs
SAN BERNARDINO (San Bernardino County) – A 1031 exchange buyer paid $2.975 mil for a 21.3k sf retail property located at 228 West Hospitality Lane. Built in 1989, the property is anchored by Soup Plantation. It was 88 percent...
| La Jolla Mixed-Use Property Sold Through Auction .com Platform for $395/sf
In a recent La Jolla purchase, a private investor paid $7.2 mil for Villa Norte, a 19.7k sf mixed-use property. The property sold for a CAP rate of 5.30% and was approximately 67% occupied at the time of sale. The deal worke...
| Four Recent Signings Bring Lakewood Retail Center to 98% Leased
Four recent tenant signings at the Carwood Center in Lakewood total to roughly 9.1k sf and bring the retail center to 98% leased. The leases have a combined value of over $1 mil. The 107k sf, Vons-anchored center is located a...
| TIAA-CREF Buys 39k sf Building in San Francisco’s Union Square
In a San Francisco office buy, TIAA-CREF purchased 228-240 Post Street, a 39k sf, multi-level luxury retail property which formerly served as the downtown San Francisco location for Ann Taylor. The property is located between...
| As LA’s Economy Improves, Retail Should Follow
Los Angeles employers added more positions in the second quarter than during any other three-month period over the last decade — an indication that the county’s economic recovery could be gaining traction, which will support ...
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| San Diego Investor Pays $300/sf for Redondo Beach Retail Property
King Harbor Plaza, a 13.1k sf retail strip center located within an Albertsons-anchored shopping center in Redondo Beach, recently traded hands at a price of $3.91 mil, or $299/sf. The property, acquired by a San Diego-based ...
| Pearlmark Real Estate Partners and Pacific Equity Properties Refi Tarzana Retail Center
Pearlmark Real Estate Partners and Pacific Equity Properties have obtained a $34.8 mil first mortgage refi loan on Village Walk, a 146k sf retail center in Tarzana. The new loan was originated by Ronnie Gul of Mesa West Capit...
| Nordstrom Rack and Whole Foods are New Anchor Tenants at Palm Desert Retail Center
Nordstrom Rack and Whole Foods Market Inc are the latest national retailers to ink leases at One Eleven Town Center in Palm Desert. The two popular retailers will serve as the co-anchors of the center, owned by Harsch Investm...
| Read Wraps Up Three Retail Projects in WA and OR
Read Investments LLC recently completed the acquisition and development of three retail properties in Washington and Oregon. Combined, the three deals are valued in excess of $10 mil and expand Read Investments’ portfolio to...
| Terramar Underway with Redevelopment of the Old Police Headquarters in San Diego’s Seaport District
Terramar Retail Centers has begun work on The Headquarters, a $40 mil adaptive re-use and renovation of the Old Police Headquarters building into an approximately 100k sf, dining and entertainment destination adjacent to Seap...
| Santa Clarita Shangri-La Sells for $10 Mil
The Center at Shangri-La, a 53.7k sf shopping center in Santa Clarita, sold for $10 mil ($186/sf). The center is located at 18635 Soledad Canyon Rd, approximately 35 miles northwest of downtown Los Angeles.
| Palm Desert Retail Center Sells for Over $300/sf
Desert Gateway, a 17.7k sf retail property in Palm Desert, sold for $5.375 mil ($304/sf). Located at 34380 Monterey Ave, Desert Gateway is leased to California Patio, Payless Shoes, Desert Gateway Dental Group and Mathis Brot...
| Watt Properties Completes Redevelopment of Huntington Beach Retail Center
Watt Properties recently wrapped up a $20 mil redevelopment of Edinger Plaza, a 25-acre, 155k sf retail center located at 7490-7664 Edinger Ave in Huntington Beach. The redevelopment, which began in late 2011, included:
• A ...
| Terramar Retail Centers Boosts Its Portfolio with Purchase of 94k sf Long Beach Property
Terramar Retail Centers acquired Spring Street Pavilion, a 93.9k sf neighborhood retail center in Long Beach, for $42.2 mil, or about $450/sf. The property, built in 1988, is currently 95% occupied. It was purchased from The...
| RPM Investments Acquires Single-Tenant Sports Authority in Torrance
RPM Investments just completed an $11.11 mil, off-market purchase of a single-tenant, big-box, NNN-leased retail property occupied by Sports Authority in the city of Torrance. Built in 1994 with a complete rehab in 2012, the ...
| Santa Clarita Shopping Center Goes for $275/sf
A SoCal private investor paid $12.54 mil for Riverview Place, a 45.5k sf ($275/sf) shopping center in Newhall, a district within the city of Santa Clarita. The center is located 26861-26925 Sierra Hwy at the corner of Sierra ...
| Century West Partners and Cigna Underway with Santa Monica Mixed-Use Project
A joint venture between Century West Partners and Cigna just broke ground in September on The Gibson, a new mixed-use apartment development in Santa Monica. The project will contain 106 upscale residential units and 10.5k sf ...
| Chula Vista CVS Property Sells for $447/sf
A 15k sf, CVS-occupied retail property located at 16 3rd Avenue Extension in Chula Vista sold for $6.7 mil ($447/sf). The property received multiple offers and sold in an all-cash transaction.
The 24-hour CVS is situated o...