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
48 California Centers Magazine | August 2016 REAL ESTATE TRANSACTIONS a fitness facility opened at the 91 Freeway and Madison Street. Paul Galmarini, with Progressive Real Estate Partners in Rancho Cucamonga, represented the lessor in the transaction. SAN BERNARDINO COUNTY COLTON Colton Bluffs Crossings – a 6,167 sq. ft. portion of this center, located at 1231 East Washington Street, has been sold for $1.99 million. The Alfred and Barbara Santos Trust was the buyer. Greg Bedell, with Progressive Real Estate Partners in Rancho Cucamonga, represented the seller in the transaction. Centrepointe Plaza – this 109,000 sq. ft. center, located at 1040 S. Mount Vernon, has been sold for $22 million. Mario Alvarez, of NAI Capital, in conjunction with Jack Lee of JMYL LP Development, represented the buyer, JMYL LP. Jamie Harrison, with Lee & Associates, represented the seller, Centrepointe Plaza of Chicago, in the transaction. FONTANA La Tapatia Mexican Grill – a 1,944 sq. ft. lease for a restaurant opened at Fontana Morningside Marketplace, located at 14518-14600 Baseline Avenue. Kenia Dugan and Paul Su, with Progressive Real Estate Partners in Rancho Cucamonga, represented the seller in the transaction. HESPERIA Pizza Factory – a 2,637 sq. ft. lease for a restaurant opened at Topaz Marketplace, located at 14101 Main Street. Kenia Dugan and Paul Su, with Progressive Real Estate Partners in Rancho Cucamonga, represented the lessor in the transaction. ONTARIO Jimmy John's Gourmet Sandwiches – a 1,570 sq. ft. lease for a sandwich shop opened at 2448 S. Vineyard Avenue. Paul Su and Kenia Drugan, with Progressive Real Estate Partners in Rancho Cucamonga, represented the lessor in the transaction. Poke Restaurant – a 1,350 sq. ft. lease for a restaurant opened at 2570 S. Vineyard Avenue. Paul Su, with Progressive Real Estate Partners in Rancho Cucamonga, represented the lessor, Celda, Inc., in the transaction. SAN BERNARDINO Seven Trees Shopping Center – this 150,338 sq. ft. center, located at the corner of E. Highland and Sterling Avenues, has been sold for $8.5 million. Ed Hanley and Kevin Fryman, with Hanley Investment Group Real Estate Advisors, represented the seller, a Los Angeles-based private investor, and the buyer, Westland Real Estate Group of Long Beach, in the transaction. VICTORVILLE Bear Valley Road Center – this 9,998 sq. ft. retail property, located at 15610 Bear Valley Road, has been sold for $1.6 million. The property is comprised of two buildings on 1.2 acres. Kevin Le and Chuck Shillington, with Marcus & Millichap in Ontario, represented the seller in the transaction. SAN DIEGO COUNTY OCEANSIDE Black Plague Brewing – a 12,945 sq. ft. lease for a brewery and tasting site opening in late 2016 at Jason Court Busdiness Park, located at 2550 Jason Court. Monique Medley, with Lee & Associates in North San Diego, represented the lessee. Bob Willingham, with Kidder Matthews, represented the lessor, Southwest Greene International Inc., in the transaction. SAN DIEGO Boulevard Plaza Shopping Center – a 12,623 sq. ft. property, located at 2800 El Cajon Boulevard, has been sold for $3.7 million. Chris Rink, with SVN/Asset Advisory Group, represented the buyer, 2800 El Cajon Boulevard LLC, and the seller, Boulevard Plaza San Diego LLC, in the transaction. SOLANA BEACH Gateway at Cedros – this 8,035 sq. ft. multi-tenant property, located at 100- 116 S. Cedros Avenue and at 121-129 Lomas Santa Fe Drive, has been sold for $6.7 million. Eric Wohl, with Hanley Investment Group, represented the seller, an Encinitas-based investment co., and the buyer, a Canadian investment fund, in the transaction. SAN FRANCISCO COUNTY SAN FRANCISCO Boba Guys – a 842 sq. ft., 10-year lease for a milk tea beverage shop opening in September at Potrero 1010, located at 1010 16 th Street. Craig Semmelmeyer and Mike Semmelmeyer, with Main Street Property Services, Inc., represented the lessee and the lessor in this transaction. SANTA BARBARA COUNTY SANTA MARIA Broadway Pavilion – this 142,944 sq. ft. grocery-anchored center, anchored by Food Maxx and located at 2410-2530 S. Broadway, has been sold for an undisclosed price. Phillips Edison Grocery Center REIT II was the buyer. Gleb Lvovich and CJ Osbrink, of HFF, represented the seller in the transaction. SOLANO COUNTY VALLEJO Chipotle Mexican Grill – this triple net leased 2,240 sq. ft. building, located at 1195 Admiral Callaghan Lane, has been sold for $1.9 million to Kam Property Holding LLC. Christopher De Pierro and Jeff Conover, with Faris Lee Investments, represented the seller, River Rock, LLC, in the transaction. VENTURA COUNTY NEWBURY PARK The Terrace – this two-level, 39,634 sq. ft. strip center, located just off Highway 101, has been purchased for $15.3 million by a Los Angeles-based private investor partnership that used funds from the refinance of a long held multifamily asset located in the San Fernando Valley. Philip Voorhees, Jimmy Slusher, Megan Wood, Matt Burson, Todd Goodman, John Read and Preston Fetrow, with CBRE, represented the seller, a Los Angeles-based private investor, in the transaction.