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/711240
44 California Centers Magazine | August 2016 REAL ESTATE TRANSACTIONS CONTRA COSTA COUNTY WALNUT CREEK Rossmoor Shopping Center – this 108,000 sq. ft. center is undergoing redevelopment by Tallen Capital Partners LLC and Citivest Commercial LLC. The phased in project will encompass a refreshed façade, addition of a drive-thru pharmacy, enhanced landscape, new lighting, gathering spaces and public art. It will also add 29,000 sq. ft. to the property. Commencing in late 2016, the project will be completed in late 2017. FRESNO COUNTY CLOVIS JR's Sports Collectibles – a 1,235 sq. ft. lease for a shop opening at Clovis Commons Shopping Center, located at 695 W. Herndon Avenue. BRE Throne Clovis Commons LLC was the lessor. Michael Arfsten, with Retail California, rnegotiated the transaction. FRESNO Family Dollar – a 8,330 sq. ft. lease for a discount variety store opening at the NEC of Venture Avenue and 11 th Street. FD Partners LLC was the lessor. John Lee and Lewis Smith, with Retail California, negotiated the transaction. Lumber Liquidators – a 8,144 sq. ft. lease for a building supply store opened at 5091 N. Fresno Street. 5561 Sultana LLC was the lessor. Nick Frechou and Mike Arfsten, with Retail California, in conjunction with Doug Cords and Shane Anderson, of Commercial Retail Associates, negotiated the transaction. KERN COUNTY DELANO Glenwood Square – this 6,808 sq. ft. retail strip center, anchored by Starbucks, has sold for $3.2 million. Bill Asher, with Hanley Investment Group Real Estate Advisors, represented the seller, Glenwood Cecil LLC. Sean Daryani, with RE/MAX, represented the buyer, a Los-Angeles based family trust, in the transaction. RIDGECREST High Desert Center – this 6,500 sq. ft. property, located at 901 S. China Lake Boulevard, has been sold for $2.11 million. Greg Bedell, with Progressive Real Estate Partners in Rancho Cucamonga, represented the seller in the transaction. KINGS COUNTY HANFORD Pieology – a 1,800 sq. ft. lease for a restaurant opening at 1696 W. Lacey Boulevard. Passco Hanford Mall LLC was the lessor. Lewis Smith and Michael Kennedy, with Retail California, negotiatied the transaction. Blazin' Wings - 4,623 sq. ft. lease for a restaurant opening at 1699 W. Lacey Boulevard. Lewis Smith, with Retail California, represented the lessor, Passco Hanford Mall, LLC. Phil Fontes, with Newmark Grubb ASU & Associates, represented the lessee in the transaction. Costco – a 150,000 sq. ft. store is planned as part of the multi-phased project Hanford Marketplace. Located on Lacy Boulevard, the Costco has broken ground and is expected to be completed in November. The remainder of the project's first phase, including two freestanding pads and one to two multi-tenant pads, is due to be completed in mid-2017. LOS ANGELES COUNTY ALHAMBRA Fremont Plaza – a 151,000 sq. ft. center, located at 2500-2588 has been sold for $24.8 million to CTF Development NV. Situated on 7.4 acres, the three parcel property is tenanted by Toys 'R' Us, Party City and PetSmart, and also includes two ground leases to El Pollo and Taco Bell. Scott Martin, with NAI Capital, represented the seller, City of Alhambra Successor Agency. BELLFLOWER Union Bank – this 5,000 sq. ft., single tenant, triple-net leased structure, located at 9738 Alondra Boulevard, has been sold for $3.2 million. Kyle Gulock and Jason Cope, with Charles Dunn, represented the seller, an Orange County-based private investor, and the buyer, a Chinese investor, in the transaction. CLAREMONT Claremont Pharmacy – a 2,364 sq. ft. lease for a pharmacy locations opened at Peppertree Square, located at 342 S. Indian Hill Boulevard. Janine Peltier, with Progressive Real Estate Partners in Rancho Cucamonga, represented the lessor in the transaction. CULVER CITY Co-Opportunity Natural Foods – a 19,000 sq. ft. lease for a boutique grocery store opening at Access Culver City, located at 8770 Washington Boulevard. The Co-op has been selling natural, organic and local foods to the Santa Monica region since 1974. The new site, due to open in 2017, will be the company's second location. Agents with CBRE Group negotiated the transaction. GLENDORA An 85,615 sq. ft. building – located at 655 S. Grand Avenue, has been sold for an undisclosed price by an undisclosed seller. The buyer is Champion Real Estate Company. The former grocery store occupied space will be reconfigured by the buyer and repositioned as a smaller 70,500 sq. ft. grocery-anchored neighborhood center that will be tenanted by several national credit retailers, including Sprouts Farmers Market and Marshalls. Additionally, the site will have two retail pads in the existing parking area featuring supporting retail uses that meet community needs. The project is projected to be completed in June 2017. LAWNDALE Lawndale Marketplace – an 85,000 sq. ft. neighborhood center, located at Hawthorne and Marine. Among recent leasing activity: a 1,400 sq. ft. lease for Jamba Juice; a 3,100 sq. ft. lease for Loaded Café. James Rodriguez and Michael Bohorquez, with Colliers International, represented the lessor in the transactions.