California Centers

JAN 2018

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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Page 33 of 36

January/February 2018 | California Centers Magazine 31 REAL ESTATE TRANSACTIONS Huntington Beach. Shaun Riley of Faris Lee arranged the transaction on behalf of the buyer, 209 N. Brand Blvd. LP. Triwell Properties represented the seller, Sampont Properties LLC. In addition to CVS/ Pharmacy, the center is home to tenants including Starbucks Coffee, O'Reilly Auto Parts, Verizon Wireless and Bank of America. The property was fully leased at the time of sale. LAGUNA HILLS The Village at Nellie Gail Ranch – this 88,486 sq. ft. center, located at 26532- 62 Moulton Parkway in Laguna Hills, has been sold for $46 million to Retail Opportunity Investment Corp. The grocery-anchored center was renovated in 2015 and was 98.3 percent occupied at time of sale. Dave Monahan, Geoff Tranchina and Cameron Pittman, of JLL, represented the seller, Vintage Real Estate, in the transaction. LANCASTER Lancaster Triangle – this 35,569 sq. ft., five building retail property, featuring tenants Burger King, American Tire Depot, Sugary Donuts, et. al., has been sold for $5.6 million. Bill Asher and Jeff Lefko, of Hanley Investment Group, in conjunction with Rosanne Morgiewicz of The Morgiewicz Co., represented the sellerLancaster Triangle, LLC, and the buyer, an undisclosed private investor, in the transaction. PLACENTIA Placentia Town Center – a 116,832 sq. ft. shopping center, located at 110- 198 East Yorba Linda Boulevard, has been purchased by NewMark Merrill Companies. Sandy Sigal, Jim Patton, Brad Pearl, Sandra Kist and Susan Rorison represented NewMark Merrill in-house in the transaction, in conjunction with Alex Kozakov of CBRE. Pete Bethea, Rob Ippolito and Glenn Rudy, of Newmark Knight Frank's Capital Markets retail division, represented the seller, RPAI. The center is anchored by Marshall's, Ross Dress for Less, and CVS/pharmacy/ pharmacy. SAN JUAN CAPISTRANO La Paz Retail – this 51,766 sq. ft. retail and medical office campus has been sold for $32.3 million to Combined Investments. Matt Berres and G. Ryan Smith, of JLL Capital Markets, represented the seller, Flinn West of Newport Beach, in the transaction. The property was 96 percent percent occupied at the time of the sale. TUSTIN A 4,748 sq. ft. building – located in the Newport & Main Center, at 535 E. Main St., has been sold for $2.5 million. Silverpoint Advisors represented the buyer, Ayala Capital Group of Tustin. Randy Dalby, of Lee & Associates in North San Diego County, in conjunction with Tom Gioia of Lee & Associates in Irvine, represented the seller, Rehka Bajaria & Farrand Investments of Torrance, in the transaction. RIVERSIDE COUNTY MORENO VALLEY A 6,440 sq. ft. retail building – located within a larger center anchored by CVS/ pharmacy, has been sold for $3.5 million. Patrick Toomey and Matt Brooks, of Faris Lee Investments, represented the seller, TC Enterprise LLC. Realty ONE Group represented the buyer, Perrishemlock LLC, in the transaction. The property was triple net leased to TitleMax and Coast Dental at the time of sale. PERRIS Perris Plaza – this 150,148 sq. ft., grocery- anchored property has been sold for an undisclosed price. Gleb Lvovich and Bryan Ley, of HFF, arranged the transaction on behalf of the seller, Condures Family LP. Nuevo Perris LLC, a joint venture between Wood Investments, Joel Farkas and SandTree Holdings, was the buyer. RIVERSIDE A 22,000 sq. ft. retail building – located at 10000 Magnolia Avenue, has been sold for $3.25 million to a Laguna Beach-based privately held development company. Greg Bedell and Pablo Velasco, of Progressive Real Estate, represented the buyer and the seller, a San Bernardino- based private investor, in the transaction. A portion of the building is undergoing renovation and will house a Social Security Administration office opening in 2018. The buyer plans a multi-million dollar renovation of the property including façade upgrades, interior renovations and adding a parking deck. To make way for the renovations, the sole tenant, Riverside Cyclery, has relocated and moved out as of the end of 2017. SAN JACINTO Rite Aid – a single tenant, net leased property occupied by a pharmacy/variety store, located at 1180 N. State Street, has been sold for $6.9 million. John Archibald and Guillermo Olaiz, of Coldwell Banker Commercial Advisors, represented the unnamed seller. Ernie Farhat, of Sanjo Investments, represented the buyer in the transaction. TEMECULA Claim Jumper – a tenant occupied 11,200 sq. ft. property, located at 29540 Rancho California Road, has been sold for $3.7 million. Reg Kobzi and Jeff Pion, of CBRE, represented the seller, a private Arizona- based limited liability company, and the buyer, New World LP, in the transaction. SACRAMENTO COUNTY FAIR OAKS Madison Marketplace – this 258,981 sq.ft. retail center has been sold for an undisclosed price. Anchored by a Raley's Supermarket and TJ Maxx, the center was 93 percent leased at time of sale. Roman Benvenuti and Bill Palmer, of Palmer Capital Inc., represented the seller, TA

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