California Centers Magazine serves retailers, developers, shopping center owners, investment sales brokers and tenant representation firms throughout the state of California.
Issue link: https://californiacenters.epubxp.com/i/472297
26 California Centers Magazine | March 2015 C C Real Estate Transactions ORANGE COUNTY ANAHEIM Kimmie's Coffee Cup – a new lease for a restaurant opening at Anaheim Hills Festival, located at 8086 E. Santa Ana Canyon Road. Judd Hietbrink, with Parker & Associates, Inc. in Laguna Hills, represented the lessee in the transaction. Kimmie's Coffee Cup has the distinction of being named "Best Breakfast" in the Orange County Register's 2014 Annual People's Choice rankings. IRVINE Cookie Connection – a sweets purveyor is opening at Crossroads Shopping Center, located at 3972 Barranca Parkway Center. Judd Hietbrink, with Parker & Associates in Laguna Hills, represented the lessee. Irvine Company of Newport Beach was the lessor in the transaction. LAGUNA HILLS Jerome's Furniture – a 32,962 sq. ft. lease for a furniture store opening frst quarter of 2015 in the ROW. Klaus Tabar, with Pointe Commercial Real Estate, in conjunction with David Lucas of Julius M. Feinblum Real Estate, represented the lessee. P.S. Business Parks Group was the lessor in the transaction. PLACER COUNTY ROCKLIN Papa John's – a new location of this pizza franchise has opened on Sunset Boulevard. This marks the frst of approximately 27 planned locations due to be opened by Preferred Restaurant Brands, formerly Dixie Foods Intenational Inc., by the end of 2015. RIVERSIDE COUNTY CATHEDRAL CITY Ramon Plaza – this 70,131 sq. ft. retail/ offce center, located at 68100 Ramon Road (at Landau Boulevard), has been sold for $9,150,000 (representing a competitive cap rate). Pablo Rodriguez and Richard Vincent, with Marcus & Millichap in Ontario, represented the private, out of state seller, who had owned the assed for over 27 years. The transaction involved 1031 Exchange requirements. The property features a mix of retail, medical and offce tenants, with the anchor space vacant at time of sale. SACRAMENTO COUNTY SACRAMENTO Beach Hut Deli – a 1,770 sq. ft., 5 year lease for a restaurant opened in January at Promenade at Sacramento Gateway shopping center, located at 3620 N. Freeway Boulevard. Jim Donnell, with Citivest, Inc., in Newport Beach, represented the lessee. Heath Kastner, with CBRE in Sacramento, represented the lessor, CLPF Promenade L.P., in the transaction. SAN BERNARDINO FONTANA Aldi – a 15,789 sq. ft. lease for a discount grocery store opening in mid-2015 at 15080 Summit Avenue. Scott Riddles and Derek Fitch, with CBRE in Newport Beach, represented the lessor, CVS Pharmacy. Michael Borman and Jason Gordon, with Epsteen & Associates in Marina del Rey, represented the lessee in the transaction. SANTA CLARA COUNTY SAN JOSE Village Oaks Shopping Center – this newly built 320,000 sq. ft. center, located at Cottle Road and Great Oaks Parkway, between Highway 101 and State Route 85, has been acquired by Donahue Schriber Realty Group for a signifcant, but undisclosed, price. Hunter Properties of Cupertino was the seller. Featuring anchors Target and Safeway, the site is part of the City of San Jose's Hitachi Transit Village master plan, the largest infll development project in the region. Its additional tenants also include Marshalls, Party City, Petco, ULTA, Chase Bank, Panera Bread, MOD Pizza, Five Guys Burger & Fries, and Chipotle, among others. David Mossman, Chief Investment Offcer of Donahue Schriber, stated "Village Oaks presented a rare opportunity to acquire a newly constructed grocer-anchored shopping center that was developed by one of the best in Northern California – Hunter Properties. The quality of the real estate and tenants also made it an easy decision." VENTURA COUNTY CAMARILLO Shops at Camarillo Town Center – this 8,000 sq. ft. portion of the Camarillo Town Center, a 457,128 sq. ft. retail center located at 415 W. Ventura Boulevard, has been sold for $4.4 million. Chris DePierro and Jeff Conover, with Faris Lee Investments, represented the seller, an Orange County- based private investor. Connie Kim, with Coldwell Banker Wilshire, represented the buyer, YS Properties LLC. The cap rate was 5.66 percent and the price per sq. ft. was $550, which at the time was the highest psf price for a multi-tenant retail property in the county for the prior 12 months. A massage studio – a 1,379 sq. ft. lease for a massage salon opening at 2109 Pickwick Drive. Agent Levcovitch, with Centers Business Management in Los Angeles, represented the lessor in the transaction. YOLO COUNTY WOODLAND Pleasanton Fitness – a 19,650 sq. ft. lease for a ftness facility opening at 120 Main Street. Craig Holdener, with Newmark Grubb Pearson Commercial, represented the lessor, Nathan Porter. Trampis Chandler represented the lessee in the transaction.