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February 25, 2024
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• Single-Tenant Starbucks Property in Inglewood Sells for $5k/sf
A 1k sf, single-tenant property occupied by Starbucks in Inglewood sold for $5.1 mil. Built in 2021, the property is situated on .4 acres at 801 E. Manchester Blvd, within walking distance to SoFi Stadium, The Forum and the u...
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• Riverside Shopping Center Lands $37 Mil in Financing
Regional Properties has obtained $37 mil in financing for Mission Grove Plaza, a 248.1k sf shopping center in Riverside. The property is located at 121 – 383 East Alessandro Blvd, east of I-215 at Trautwein Rd. The 16-build...
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• Blatteis & Schnur Secures $27 Mil to Build Spec Retail Project Along Santa Monica’s Third Street Promenade
Here’s news of a spec retail development along Santa Monica’s iconic Third Street Promenade. The three-story, 25k sf project is being developed by Blatteis & Schnur, who are replacing a 77-year-old mixed-used building that th...
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• Starbucks-Anchored Retail Pad in Riverside Trades for $699/sf
A recently constructed, four-tenant net-leased investment anchored by a Starbucks Drive-Thru in Riverside traded for $4.89 mil. Built in 2020, the 7k sf ($699/sf) pad building sits on 1.14 acres at 22420 Van Buren Blvd. The ...
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• Investor Lands $53 Mil Loan on AZ Retail Center
An unnamed private investor has obtained $53.4 mil permanent loan to retire construction debt for the first phase of a multi-phase retail project. The project, The Village at Prasada, is a 700k sf retail power center located ...
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• Concepts Inc Buys 54k sf Phoenix Retail Center
Concepts Inc purchased Ahwatukee Mercado, a 54k sf retail center in Phoenix. Located at 4747 East Elliot Rd, the 95% leased center is shadow-anchored by a Safeway Grocery Store. The price was not disclosed. The property incl...
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• OC Shopping Center Traded in $36.5 Mil Deal
A Newport Beach private investor purchased Bristol Place, a 61.5k sf, multi-tenant shopping center shadow-anchored by Target in Orange County’s South Coast Metro, in a $36.5 mil ($593/sf) transaction. The property was sold by...
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• Simi Valley Restaurant Building Gets New Owner in $2 Mil Deal
A 5.7k sf restaurant building in Simi Valley traded hands in a recent $2 mil ($350/sf) deal. The property, located at 698 E Los Angeles Ave, is a free-standing building within the Woodlands Plaza neighborhood center anchored ...
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• Milan Capital Lands $12 Mil Refi on Oceanside Retail Center
Milan Capital Management has obtained a $12.05 mil refi loan on Mission Promenade, a 105.7k sf, dual grocery-anchored shopping center in Oceanside. Built in 1972 and renovated in 1999, Mission Promenade is currently 97% occu...
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• New Mountainside Fitness-Leased Retail Building in the Phoenix Area Secures $7.65 Mil in Financing
A new 40k sf retail building in the greater Phoenix area that is 100% leased to Mountainside Fitness, a health club operator with 19 Phoenix Region locations, has been financed with $7.65 million of construction-to-permanent ...
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• Auto Dealership Entity Buys 65k sf Retail Property in Fort Collins, CO
An entity affiliated with Fort Collins-based Dellenbach Chevrolet Inc purchased a 65.5k sf retail property in Fort Collins, CO for $9.25 mil ($141/sf) in an off-market transaction. The property is located at 200 W. Foothills ...
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• New Mercedes-Benz Classic Center Completed in Long Beach
Mercedes-Benz USA has completed work on the world’s second Mercedes-Benz Classic Center, an international destination for the luxury brand’s car enthusiasts. Designed by interior architectural design firm Hendy, the Long Beac...
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• New 55k sf Dining Hall Completed as Part of Renovation at Westfield Topanga Center
Topanga Social, a new 55k sf dining hall at Westfield’s Topanga Mall in the western San Fernando Valley, has opened to the public. The project, part of the 250k square-foot renovation and expansion of Westfield Topanga Center...
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• San Diego CVS Pharmacy Sells for $5.8 Mil
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
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
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
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
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
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
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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