California Centers

MAY 2017

California Centers Magazine serves retailers, developers, shopping center owners, investment sales brokers and tenant representation firms throughout the state of California.

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38 California Centers Magazine | May 2017 REAL ESTATE TRANSACTIONS ALAMEDA COUNTY OAKLAND A 4,929 sq. ft. lease – for Paulista, a restaurant/taproom and café opening at 4239 Park Boulevard. Ryan Semmelmeyer, with Main Street Property Services, Inc., represented the lessor in the transaction. FRESNO COUNTY CLOVIS Dollar Tree – a 1,360 sq. ft. lease for a discount variety store opening at The Trading Post Shopping Center, located at 930 Herndon Avenue. DN Clovis LLC is the lessor. Peter Orlando and Lewis Smith, with Retail California, negotiated the terms of the lease transaction. FRESNO Edinhart Realty & Design - a 1,400 sq. ft. lease for a services tenant opening at 6759 N. Palm Avenue. Steve Rontell and Zack Kaufman, with Colliers International, negotiated the terms of the transaction. LOS ANGELES COUNTY ARCADIA Arcadia Gateway Center – this 156,000 sq. ft. mixed-use retail center, located at 300-450 East Huntington Drive (at 5 th Avenue) has been sold for $62,081,611, representing a cap rate of 5.45 percent. The five-building complex is positioned at the entrance to Arcadia and benefits from 900+ feet of frontage along Huntington Drive, a main thoroughfare. The retail component features a 43,578 sq. ft. single-story, multi-tenant building and two freestanding restaurant pad buildings. Ed Hanley, Pat Kent and Corey Olson, with Hanley Investment Group, represented the sellers, Arcadia Gateway Centre Delaware Partners, LLC and Post Exchange, LLC. Henry Hong, with Lee & Associates, represented the buyer, JLJ (USA) Investment, LLC in the City of Industry, in the transaction. DOWNEY A beauty bar and salon – a 1,200 sq. ft. lease for a store opening at 10357 Lakewood Boulevard. Todd Nathanson, Keith Corneliuson and Mike Matzner, with illi Commercial Real Estate in Encino, represented the lessee and the lessor in the transaction. LAKEWOOD A 19,092 sq. ft. property – a portion of the Rite Aid Center, located at 5520 Woodruff Avenue, has been purchased for $3,500,000. Mike Lin, with Progressive Real Estate in Rancho Cucamonga, represented the buyer and seller, Latigo Management, in the transaction. LOS ANGELES La Cienega Triangle – an 8.6 acre property located at the intersection of La Cienega Blvd., Centinela Avenue and La Tierja Boulevard has been acquired by Santa Ana-based Red Mountain Group, Inc. The planned 117,838 sq. ft. urban redevelopment calls for adaptive reuse along the existing 43,138 sq. ft. of street front retail along La Tijera, to be followed by an addition 42,700 sq. ft. of ground-up improvements. Among tenants planned are a daily needs grocer, entertainment uses, soft goods tenants, sit-down food services and four drive-thru operators. A 30,000 sq. ft. office building is also on the site. Bill Bauman, with Savills Studley, and Luke Palmo, with Coldwell Banker Commercial, negotiated the purchase transaction. Kristin Ambrose is handling leasing going forward. PICO RIVERA The Buffalo Spot – a 2,600 sq. ft. lease of a corner pad at Civic Pavilion retail center. James Rodriguez and Michael Bohorquez, with Colliers Retail Foresight, represented the lessor in the transaction. ROLLING HILLS ESTATES Peninsula Shopping Center – the multi-million dollar redevelopment of this center, located at 67 Peninsula Center, has been completed. The expansion increased the center's size by nearly 17,000 sq. ft. Among the latest retailers to open have been Orchard Supply Hardware, Petco, Ulta Beauty, The Bar Method, AT&T, Verizon, The Habit Burger Grill and Chipotle. Mod Pizza is due to open in summer of 2017. Among the updates were the addition of three new restaurant/retail pads, construction of a drive aisle in place of a pedestrian colonnade, reconfigured parking, new landscaping, the creation of new junior anchor spaces, sidewalk improvements and new monument and way finding signage. The center is owned by Vestar. SANTA CLARITA Gateway Village Shopping Center – this 153,686 sq. ft. neighborhood center, located at 28207-28313 Newhall Ranch Road, has been sold in an off- market transaction for $69.5 million. Michelle Schierberl and Donald Ellis, with Colliers International in Irvine, represented the buyer, Galois Group and the seller, JH Real Estate Partners, in the transaction. SHERMAN OAKS Frida's Mexican Cuisine – a 7,928 sq. ft. lease for a restaurant opened at 15301 Ventura Boulevard. Todd Nathanson, Kyle Fishburn, and Dimas Rangel, with illi Commercial Real Estate, represented the lessor. Agents with US Realty Advisors represented the lessee in the transaction. A clothing store – a 775 sq. ft. lease for a retailer opened at 14522 Ventura Boulevard. An agent with Paley

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