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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44 California Centers Magazine | May 2017 REAL ESTATE TRANSACTIONS UPLAND Poke Delight Restaurant – a 1,400 sq. ft., 10-year lease for a restaurant opened at The Colonies Crossroads, located at 1931 N. Campus Drive. Paul Galmarini, with Progressive Real Estate Partners in Rancho Cucamonga, represented the lessor in the transaction. 365 By Whole Foods Market – the first such store to be completed in Southern California's Inland Empire has begun to be constructed at Sycamore Hills Plaza, at the intersection of the 210 Freeway and Baseline Road. GPI Companies and LStar Communities are the owner of the 80,000 sq. ft. shopping center, located in the master planned community of Sycamore Hill in Upland and Cleremont. GPI Companies and LStar Communities began construction on the Plaza in early 2016, with an estimated completion date of fourth quarter 2017. Thus far, tenants confirmed for the project include CVS, Starbucks, MOD Pizza, Orange Theory Fitness, Arby's, Supercuts and Lee Spa Nails. Scott Kaplan, Erik Westedt and Blake Kaplan, with JLL, in conjunction with Dan Samulski and Ryan Gast of CBRE, are handling the leasing at the center. VICTORVILLE Mall of Victor Valley – two outparcels located at the entrance to this center have been sold for a total of $4.2 million. The 8,000 sq. ft. Big 5 occupied outparcel at 14390 Bear Valley Road sold for $1,580,000 in an all cash transaction. Mike Lin and Brad Umansky, with Progressive Real Estate Partners, represented the buyer, a private So. Cal. Based investor, and the seller in the transaction. In the second deal, a 14,120 sq. ft. multi- tenant outparcel at 14350 Bear Valley Road was purchased for $2,650,000 by a partnership formed by Alan Gottlieb of Real Estate Affiliates. Sit n' Sleep recently opened as a tenant in a 9,200 sq. ft. portion of the space. Brad Umansky and Liana Ahdoot, with Progressive Real Estate Partners, represented the seller, a private Los Angeles based investor, in the latter transaction. SAN DIEGO COUNTY CARLSBAD A new mixed-use specialty center – is planned for a 17.7-acre site that is located along Palomar Airport Road. Shea Properties, LLC/Shea Homes of San Diego, LP acquired the undeveloped land for $26.5 million. The planned retail center will feature a Main Street-like entry leading to new shops, services and restaurants, anchored by a specialty market. Aric Stark and Dennis Visser, with Cushman and Wakefield in Carlsbad, represented the buyer and seller in the transaction. CORONADO Coronado Island Assemblage – an entire city block on Coronado Island has been purchased for $22 million by Kleege Enterprises. The Coronado Island assemblage is at the center of a premier dining, nightlife and shopping destination on Orange Avenue near the Hotel del Coronado. The property is comprised of 28,665 sq. ft. of retail buildings situated on 49,948 sq. ft. of land. The purchase involves nine parcels that have been assembled over the past forty years that are fully leased to a mix of tenants. Tim Kunizar, Ken McLeod, and Matthew Perlmutter with CBRE Group, Inc., represented the buyer and the seller, a private local-based family, in the transaction. SAN DIEGO Friars-Riverdale Center – this 100 percent leased, 32,696 sq. ft. mixed-use center, located at 10383-01397 Friars Road, has been sold to Lai Family LP, for $2,800,000. Brian Crepau and Icela Galaz-Wittkopp, with Pacific Coast Commercial, represented the seller. Judy Chou Hseih, with Greater Realty, Inc., represented the buyer in the transaction. VENTURA COUNTY CAMARILLO Sprouts Farmers Market – a new location for this specialty grocer is slated to open in June at a formerly vacated 39,000 sq. ft. Haagen grocery location being remodeled at Camarillo Village Square shopping center, located at 2400 East Las Posas Road. It will mark the second location of the chain to be opened in the county, with the first having opened in March at a former Sports Authority location in the Ventura Gateway shopping center. The company had previously projected opening approximately 11 Sprouts locations overall in 2017. OXNARD Urban Outfitters – a new 8,900 sq. ft. apparel and lifestyle store is due to be added to The Collection at River Park, located at the Oxnard Boulevard exit off Highway 101. The 8,900 sq. ft. store, positioned along Collection Boulevard, will be the first Urban Outfitters in Oxnard and will offer the chain's full range of products, including expanded home, technology and music sections. The store is adjacent to The Annex, a 16,000 sq. ft. public market currently being built that is due to be completed in summer of 2017. Luna Grill – the latest unit of this Mediterranean focused restaurant chain opened in March at The Collection at River Park, the first restaurant to join the center in 2017. Luna Grill crafts dishes using ingredients that aren't genetically modified and that are locally harvested and in season.

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