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• Five Signings Bring Retail Portion of New San Diego Mixed-User to Fully Leased
1/24/23
There have been five leases totaling 10k sf at 5826 – 5854 Montezuma, a mixed-use development slated to open in the late summer of 2023 near the San Diego State University (SDSU) campus in San Diego. The deals put the buildin...
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• Newly Constructed Menifee Retail Center Sells for almost $600/sf
1/20/23
Center Pointe, a 41.5k sf, newly developed grocery-anchored retail center in Menifee, traded hands for $24.6 mil ($593/sf). The recently constructed center is 96%-leased to Sprouts, Wendy’s and Olive Garden, as well as local ...
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• 91k sf Retail Center in the East Bay Gets New Owner
1/20/23
In an East Bay retail trade, Balboa Retail Partners purchased Pinole Square, a 91k sf retail community center in Pinole, roughly 17 miles north of Oakland. The property is located at 1201-1577 Tara Hills Dr, on the northwest ...
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• Seattle Area Retail Property Sells for $737/sf
1/17/23
A 3.8k sf, two-tenant retail property in the Seattle metro area sold for $2.8 mil, or $737/sf. The property, occupied by Pacific Dental Services and Coldwell Banker, sits on a 0.4-acre parcel at 1031 SE Everett Mall Way in Ev...
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• Tova Capital Closes $6.2 Mil Retail Buy in Long Beach
1/12/23
Tova Capital has acquired a fully occupied, 34.5k sf retail complex near Downtown Long Beach in a $6.2 mil ($180/sf) off-market transaction. The retail property is located on a nearly one-acre site at 205-233 E. Anaheim St, b...
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• SRS Real Estate Partners’ National Net Lease Group Sold 22 Chick-fil-A Occupied Properties in 2022
1/11/23
SRS Real Estate Partners’ National Net Lease Group in 2022 sold a total of 22 properties occupied by Chick-fil-A valued at $87 mil with an average cap rate of 3.77%. This makes up for a 32% market share for all Chick-fil-A-oc...
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• Ventura County Shopping Center Lands New Owner in $19.5 Mil Deal
1/10/23
Simi Valley Promenade, an 82.4k sf shopping center anchored by Smart & Final in Simi Valley, sold for $19.55 mil, or $237/sf. The property was built in 1981 and renovated in 1991 and 2002.
Tenants at Simi Valley Promenade i...
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• Sacramento Area Retail Center Lands $16.75 mil Refi
1/09/23
Market Place at Town Center, a 134.6k sf retail center in El Dorado Hills, CA, landed a new refi loan for $16.75 mil. El Dorado Hills is a suburb of the Sacramento MSA.
The property is located at the intersection of Hwy 50 ...
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• Downtown Denver Retail Asset Goes for $370/sf
1/05/23
The Shops at Riverfront Park, a 31.9k sf, multi-tenant asset included the entirety of commercial/retail space located within the Riverfront Park neighborhood in Downtown Denver, traded hands in an $11.8 mil ($370/sf) transact...
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• Transnational Management Spends $23.7 Mil on WA Retail Asset
1/03/23
Transnational Management closed out 2023 with the acquisition of Greentree Plaza, an 83k sf shopping center in Everett, WA, for $23.7 mil.
Located at 305-505 SE Everett Mall Way, along Everett’s busiest commercial arterial b...
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• Marcus & Millichap President and CEO Hessam Nadji Elected to ICSC Board of Trustees
12/30/22
Marcus & Millichap president and CEO Hessam Nadji has been elected to join ICSC Board of Trustees. Nadji’s selection marks the first time that a brokerage CEO has been appointed to this position.
“We are pleased to have He...
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• Rams Owner Kroenke Spends $325 Mil on Woodland Hills Retail Center
12/29/22
Los Angeles Rams’ owner Stan Kroenke closed on a large property acquisition in the San Fernando Valley, paying $325 mil for The Village, a 600k sf outdoor retail center in Warner Center. The property was sold by Unibail-Rodam...
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• Union Bank Sells Five San Diego Area Branches for $19 Mil
12/23/22
Union Bank collected $19.25 mil from the sale of five bank branches across San Diego County and in Brawley, CA.
Two branches are in San Diego, one near Ocean Beach at 1858 Cable St and the other at 6010 El Cajon Blvd. Built ...
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• NoCal Chick-fil-A Single-Tenant Property Sells for $2,167/sf
12/23/22
A NoCal-based private investor purchased a new, 4.8k sf single-tenant net lease Chick-fil-A Drive-Thru in Livermore for $10.4 mil, or $2,167/sf. The property was sold by Meridian, a full-service real estate developer and inve...
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• Grocery-Anchored Retail Center in Lahaina, Hawaii Trades in $37 Mil Deal
12/23/22
Westlake Village-based U.S. Realty Partners Inc closed on a $37.25 mil retail buy in Hawaii, purchasing Lahaina Gateway, a 136k sf ($274/sf), grocery-anchored center in Lahaina.
Lahaina Gateway is one of the newest shopping ...
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• Tucson Retail Center Goes for $225/sf
12/21/22
Silverbell Plaza, a 97.5k sf retail center in Tucson, AZ, sold for $22 mil, or $225/sf. The property is located at 2480-2500 N. Silverbell Rd and 2106-2180 W. Grant Rd.
Situated on 8.45 acres, the property was 97% occupied a...
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• Thousand Oaks Retail Center Refinanced with New Loan for $84.7 Mil
12/19/22
Janss Marketplace, a 456.4k sf, grocery-anchored regional retail center in Thousand Oaks, has been refinanced with a new loan for $84.7 mil. The center, located at 165-401 N Moorpark Rd, near the 101 Fwy in the Conejo Valley,...
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• Los Angeles County Retail Market Outlook Q3
12/13/22
This report provided by NAI Capital Commercial
Market Overview
LA County’s retail market post-pandemic recovery continued in Q3 2022. Easing vacancy, lower construction, and a growing demand for retail space helped landlord...
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• Adjacent Single-Tenant Retail Properties in Riverside Trade in $4.22 Mil of Deals
12/12/22
Two adjacent single-tenant retail properties in downtown Riverside were purchased by private investors in separate deals totaling $4.22 mil. The buildings, located at 3940 and 3980 University Ave, have a combined 5.75k sf of ...
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• New Jersey Investor Spends $6.8 Mil on Phoenix Retail Property
12/08/22
Westridge Shopping Center, a 58.7k sf retail center in Phoenix, was acquired by Westridge Phoenix AZ LLC, a New Jersey-based investor, for $6.825 mil ($116/sf). The seller was DPM Westridge Shopping Center LLC.
Located at 7...
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