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May 23, 2024
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RETAIL NEWS
Archive
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• Single-Tenant Net-Leased Indio Property Goes for $3 Mil
1/22/24
A 16.6k sf, single-tenant, net-leased Texas Roadhouse in the Inland Empire city of Indio sold for $3 mil ($181/sf). The restaurant pad property is part of Indio Towne Center, a dynamic 560k sf power center. The property was ...
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• Texas Single-Tenant Asset Goes for $162/sf
1/18/24
In a retail, single-tenant trade out of Texas, a San Antonio-based private investor paid $10.26 mil for a newly developed, 63.2k sf ($162/sf) property occupied by Academy Sports + Outdoors. Situated on approximately six acres...
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• Prairie Hill Holdings Buys AZ Grocery-Anchored Center for $27.5 Mil
1/18/24
Prairie Hill Holdings acquired Rillito Crossing, a 96.4k sf, grocery-anchored retail center in Tucson, AZ, for $27.5 mil ($285/sf). The asset was sold by Epic Real Estate Partners and Centerbridge. Completed in 2008, Rillito...
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• Investor Pays $1,878/sf for Newly Built Colorado 7-Eleven
1/12/24
A newly developed, 4.7k sf ($1,878/sf) 7-Eleven property in Colorado sold for $8.83 mil. The property is located at 4400 Harlan Court in Wheat Ridge, a city within the greater Denver MSA. The property is situated on 1.3 acre...
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• Two Single-Tenant Retail Assets in Antelope Valley Trade for $11.4 Mil
1/12/24
In recent retail investment activity out of Californiaís Antelope Valley, a brand-new construction, single-tenant Smart & Final Extra! and a single-tenant property occupied by ddís Discounts at the Antelope Valley Plaza trade...
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• Sacramento Quest Diagnostics Strip Center Listed at $3.165 Mil
1/04/24
An 8.9k sf, Quest Diagnostics-anchored strip center in Sacramento has been put on the market with an asking price of $3.165 mil. Other tenants at the property include Game Stop, GNC and Hip Hop Jeans. The Quest & Shops prope...
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• RA Centers Retains Vestar for Management of AZ Shopping Center
12/26/23
Raymond Arjmand of RA Centers has retained Vestar as the management assignment for Palm Valley Pavilions West, a 232.6k sf power center in Goodyear, AZ. RA Centers acquired the center on December 15th, 2023. Palm Valley Pav...
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• OC Grocery-Anchored Center Trades
12/21/23
Buena Park Place, a grocery-anchored, 208.6k sf shopping center located in the OC city of Buena Park, was acquired by an unnamed private investor. The seller was SITE Centers Corp. Built in 1961 and renovated in 2016, the 10...
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• L.A. Investor Pays $3 Mil for 1.73-Acre Site in Rancho Cucamonga
12/21/23
An L.A.-based private investor paid $3 mil for a 1.73-acre parcel of vacant land in an all cash transaction. The land, which is zoned mixed-use, is located at the northwest corner of Foothill Blvd and Etiwanda Ave in Rancho ...
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• New SoCal Raising Caneís Goes for Over $1,600/sf
12/20/23
A brand-new construction, 3.2k sf single-tenant Raising Caneís Chicken Fingers Double Drive-Thru restaurant in Santa Maria sold for $5.1 mil, or $1,608/sf. The property is within Enos Ranch, considered to be Santa Mariaís pre...
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• Brixton Capital Buys 178k sf NoCal Shopping Center
12/19/23
In a recent NoCal retail buy, Brixton Capital acquired Monterey Plaza, a 178.2k sf shopping center in San Jose. The property was sold by a Kimco Realty joint venture with Prudential Global Investment Management for an undiscl...
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• Exchange Investor Pays $324/sf for Inglewood Retail Center
12/19/23
An L.A.-based exchange investor bought a 12.8k sf, multi-tenant retail center anchored by Dollar General in Inglewood for $4.15 mil ($324/sf). The seller was also a private investor based in Los Angeles. Built in 1961 and re...
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• Recent Lease Signings Bring Chino Spectrum Marketplace to 98% Occupancy
12/19/23
In recent retail activity news, four new leases totaling 16.4k sf were signed at Chino Spectrum Marketplace in Chino. The leases bring the property to 98% occupancy. The latest deals at the center were with Boston Pizza (6....
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• Strong Demand for Retail, Restaurant Space in San Diego County Predicted for 2024
12/18/23
Real estate services firm Urban Property Group (UPG) has provided its outlook on interesting trends for the San Diego commercial real estate market in 2023 and has offered insights for what CRE can expect in 2024. In 2023,...
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• Construction on Vegas Retail Destination Development Tops Out
12/18/23
Construction has topped out on BLVD, a 400k sf retail destination on the iconic Las Vegas Strip. The project, located at 3743-3759 Las Vegas Blvd, is a development of Gindi Capital, along with partner CHERNG Family Trust. In...
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• 23k sf El Paso, TX Retail Property Trades
12/14/23
5 Points Plaza Shopping Center, a newly renovated 23.3k sf retail center in El Paso, TX, traded hands. In addition, Morra Mia, a restaurant specializing in Mexican cuisine, has signed a lease at the site, with plans to open i...
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• Tabani Group Spends $16.7 Mil on OC Retail Asset
12/14/23
Tabani Group paid $16.7 mil for Bristol Marketplace, a 107.7k sf retail property in Santa Ana. Bristol Marketplace is comprised of a 99.8k sf, two-story Kohlís (dark) and adjacent shop space. The offering presented investors ...
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• Bristol Farms Inks Lease at New Modera Argyle Development in Hollywood
12/13/23
Upscale regional grocer Bristol Farms agreed to a 15-year lease for 23.2k sf of space at Modera Argyle, a 276-unit, luxury res development at the corner of Selma and Argyle Avenues in the heart of the Hollywood Entertainment ...
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• La Quinta Retail Asset Trades for $26.4 Mil
12/12/23
Komar Desert Center a retail center consisting of multiple pad retail buildings shadow-anchored by the only Costco in La Quinta, traded hands in a recent transaction worth $26.4 mil. It was acquired by a private capital inves...
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• Palm Desert Retail Pad Property Sells for $454/sf
12/12/23
A fully occupied, 8.5k sf multi-tenant retail pad property in Palm Desert traded hands in a $3.86 mil ($454/sf) transaction. The property, situated near the I-10 Fwy Washington St on/off ramp is anchored by a new Chipotle Mex...
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