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May 27, 2024
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RETAIL NEWS
Archive
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• San Diego CVS Pharmacy Sells for $5.8 Mil
5/19/23
A 17k sf, freestanding CVS Pharmacy in San Diego sold for $5.8 mil ($341/sf). The building sits on a 2.59-acre parcel located at 14589 Camino Del Norte, at the intersection with Carmel Mountain Rd. Adam Friedlander with Beta...
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• Corona Quick Quack Car Wash Ground Lease Deal Closes at 4.4% Cap Rate
5/18/23
A SoCal private investor spent $4.46 mil on a Corona ground lease property occupied by a 3.6k sf Quick Quack Car Wash. Built in 2022 and situated on just under one-acre, the property is located at 850 N. Main St. The property...
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• Neighborhood Center in Temecula Trades for $28 Mil
5/17/23
Meadows Village Center, a 67.3k sf neighborhood grocery-anchored center in Temecula, was acquired by Newport Beach-based RA Centers for $27.7 mil. Tenants at the center, Barons Market and CVS Pharmacy, were not a part of the ...
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• Private Investor Spends $15 Mil on Two SoCal Chick-fil-A Ground Lease Properties
5/17/23
A SoCal-based private investor purchased two Chick-fil-A ground lease assets for $15 mil. The assets are located in the Southern California cities of Palm Desert and Mission Viejo. The blended closing cap rate was 3.83%, mark...
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• Escapology Escape Room Commits to Trio of CA Locations
5/15/23
Escapology Escape Room inked deal for three retail new locations throughout California as part of the brand’s nationwide expansion. Escapology, a fast-growing growing escape room franchise, offers dynamic 60-minute immersive ...
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• Inland Empire Strip Center Goes for $348/sf
5/12/23
An L.A.-based private investor paid $6 mil for South Sierra Plaza, a 17.3k sf ($348/sf), unanchored strip center in Fontana. The property, located at 10660 South Sierra Ave, was sold by the center’s original developer. The 12...
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• La Habra Strip Center Gets New Owner
5/09/23
The Row on Harbor, a 23.3k sf, newly renovated retail strip center in La Habra, was acquired by a 1031, all-cash buyer. The property was sold by DMI Real Estate Group. Located at 1450-1478 S. Harbor Blvd, The Row on Harbor c...
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• Imperial Valley 7-Eleven Ground Lease Fetches $2.4 Mil
5/09/23
An OC-based private investor paid $2.4 mil for a new construction, single-tenant property occupied by a 7-Eleven convenience store and gas station in Imperial Valley. The new 15-year absolute triple-net ground lease sale work...
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• La Habra Strip Center Purchased by All-Cash Exchange Investor
5/04/23
The Row on Harbor, a 23.3k sf, newly renovated retail strip center located within Orange County in La Habra, was acquired by a 1031, all-cash buyer. The price was not disclosed. Renovated in 2020, The Row on Harbor is 100%-l...
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• Single-Tenant Sherwin-Williams Store in Beaumont Sells for $3.24 Mil
5/02/23
A Hemet-based private investor paid $3.24 mil for a newly developed, 4k sf single-tenant net-lease retail pad building occupied by Sherwin-Williams in Beaumont. The deal had a 4.50% closing cap rate. The Sherwin-Williams pro...
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• Recent Leases Bring San Mateo Power Center to Fully Leased
4/28/23
Bridgepointe Shopping Center, a 572k sf retail power center in San Mateo, is now fully leased, thanks to 131.2k sf of leases signed over the past three years. The center, located at 2280 Bridgepointe Pkwy, was redeveloped fro...
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• Zippy’s Property Trades in $4.7 Mil Deal
4/28/23
A Hawaii-based private investor paid $4.7 mil in the leased fee buy of a single-tenant retail property occupied by Zippy’s, an iconic Hawaii-based fast casual restaurant chain serving American, Japanese, Chinese, and Hawaiian...
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• Seattle Retail Market Remains Stable
4/27/23
This report provided by real estate services firm Kidder Mathews Seattle Retail CRE Market Update – 1st Qtr 2023 The pandemic created a monumental shift in the way consumers live, work and shop and three years later, most m...
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• Planet Fitness-Occupied Property in Ventura Goes for $6.4 Mil
4/26/23
A private investor from Ventura paid $6.4 mil for a newly renovated, 24k sf ($267/sf) single-tenant property now occupied by Planet Fitness adjacent to Ventura College in Ventura. The property was sold by an affiliate of MJL ...
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• NewMark Merrill Companies’ San Diego Office Celebrates 20 Years
4/26/23
Next month, Calabasas-based NewMark Merrill Companies celebrates the firm’s 20-year anniversary of when the company first opened its San Diego Division office to oversee the San Diego, Riverside and Orange County regions. In ...
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• Wood Investments Companies Picks Up Former Kmart Building in Big Bear Lake
4/25/23
Wood Investments Companies Inc acquired a former Kmart building on 7.49 acres in Big Bear Lake, CA, SoCal’s popular mountain resort community and destination. Big Bear Lake is home to over three million annual visitors who co...
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• Historic Renovation/Redevelopment Project Leaves Its Mark in Riverside
4/25/23
Work has wrapped up on The Mark, a mixed-use, seven-story residential and retail building in the heart of Riverside’s historic core. The project, which required finding a balance between historic preservation and modern renew...
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• Western U.S. Arby’s Portfolio Trades for $35 Mil
4/21/23
A 22-property Arby’s portfolio located in Iowa, Montana, North Dakota, Nebraska, and Wisconsin traded hands for $35.126 mil. The transaction is part of a $52.6 mil disposition assignment with 28 properties closed and five cur...
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• Fast5Xpress Car Wash in Ontario Sells for $3.5 Mil
4/18/23
An OC-based private investor purchased a new construction, single-tenant property occupied by Fast5Xpress Car Wash in Ontario, adjacent to the Ontario Mills Mall, one of the top shopping and tourist destinations in California...
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• Sky Zone Leases Rancho Cucamonga Space
4/17/23
Sky Zone inked a lease for 30.7k sf of space in Rancho Cucamonga for a new Sky Zone indoor entertainment park. The space, located at 12449 Foothill Blvd, is part of the 550k sf Wal-Mart- and Food 4 Less-anchored Foothill Mark...
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