California Centers

MAR 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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REAL ESTATE TRANSACTIONS 22 California Centers Magazine | March 2018 ALAMEDA COUNTY ALBANY University Village – located at 1075-1095 Monroe Street, has been sold for $19.2 million. ValueRock Realty Partners is the buyer. Oppidan was the seller in the transaction. FRESNO COUNTY FRESNO Marketplace at El Paseo – Phase 2 of this 650,000 sq. ft. power center, located at Hwy 99 and Herndon Ave., is nearing completion, and leasing of available space is being handled by Lewis Smith and Mike Kennedy, with Retail California. Fit Body Boot Camp – a 2,345 sq. ft. lease for a fitness facility opening at 6797 Millburn Ave. Nick Frechou, with Retail California, represented the lessee. Herndon Station, LLC was the lessor in the transaction. Ono Hawaiian BBQ – A 2,503 sq. ft. lease for a restaurant opening at 8480 N. Friant Ave. Michael Kennedy, with Retail California, in conjunction ith Harold Zinkin, with Commercial West, negotiated the transaction. Fresno 40 Limited Partnership LP was the lessor. IMPERIAL COUNTY CALEXICO Family Dollar – a 8,701 sq. ft. lease for a variety store opening at 412 E. 2 nd Street. Lewis Smith and John Lee, with Retail California negotiated the transaction. Calexico 18, LLC was the lessor in the transaction. LOS ANGELES COUNTY LONG BEACH Wells Fargo – this 3,479 sq. ft. tenant occupied retail property, located at 4411 Pacific Coast Highway, has been sold for $6.6 million. Kevin Boeve, with Marcus & Millichap, represented the seller, a private partnership. Neema Ahadian, also of Marcus & Millichap, represented the buyer, an individual/personal trust, in the transaction. LOS ANGELES A 5,000 sq. ft. street-front retail property – located at 9563 W. Pico Blvd. has been sold for $2.8 million. Brandon Michaels and Andrew Leff, of Marcus & Millichap, represented the seller, a private investor, and the buyer, CRD Pico Associates, in the transaction. Hollywood & Highland – among the latest leasing activity: a multi-level Japan House Los Angeles, which comprises a retail shop, café, gallery, restaurant and event space, utilizing 6,000 sq. ft. on the second floor and 8,000 sq. ft. on the fifth floor. The shop and gallery are already open on the second floor, while the sixth floor space, when completed, will feature a fine-dining Japanese restaurant, library, multi-purpose event venue, and offers views of the Los Angeles sky line. The idea is to immerse consumers in all aspects of Japanese culture through events, experiences and gallery exhibits. In addition, a flagship Foot Locker store has opened as of December 2017, and features an in-store boutique, Six:02, geared toward fitness minded and street savvy female shoppers. The store spans two levels and offers items for men, women and children. It will offer limited edition sneaker drops and celebrity events hosted in-store and within the center's central courtyard. REDONDO BEACH Coffee Bean & Tea Leaf – this newly constructed, tenant occupied property, located at 2525 Artesia Blvd., has been sold for $4.2 million. Alex Kozakov and Patrick Wade, with CBRE, represented the seller, El Indio Property LLC. Sanjo Investments represented the buyer, MattKarr Properties LLC, in the transaction. The drive-thru coffee shop tenant is under a 15-year lease that commenced in 2017. TORRANCE Southwood Village – this 66,958 sq. ft. neighborhood center, located at 22214- 22251 and 22217-22251 Palos Verdes Blvd. and 5230 Sepulveda Blvd. has been sold for $21 million. Richard Chichester and Donald MacLellan, with Faris Lee Investments, represented the seller, BIG Shopping Centers USA of Los Angeles. Triwell Properties represented the buyer, a private investor, in the transaction. Max 5 Sports – a 3,220 sq. ft. lease for a store opened at 1431 W. Knox Street. Paul Su, with Progressive Real Estate Partners in Rancho Cucamonga, represented the lessor, Celda LLC, in the Matthew Hardke, Matthew Mousavi, and Patrick Luther, with SRS Real Estate Partners, represented the undisclosed seller. Fortune Realty was the buyer in the transaction. VAN NUYS Crunch Fitness – a 20,600 sq. ft. fitness center facility, has been sold for $6.1 million. The building co-anchors an inline strip center, and is occupied by a tenant having a 15-year lease. WESTWOOD VILLAGE The Waffle – a restaurant is due to occupy leased space formerly occupied by Jerry's Deli at 10925 Weyburn Ave. The modern casual restaurant offers breakfast and lunch items, and is owned by Gain Polone and John Papsidera. Christine Deschaine, with Kennedy Wilson, represented the lessor, Tucker Investment Group. Nemark Knight Frank represented the lessee in the transaction. WHITTIER Friendly Hills Marketplace – this 89,826 sq. ft. shopping center has been sold for $40 million. Philip Voorhees, Kirk Brummer, James Tyrell, Megan Wood, Preston Fetrow and Jim Leary, with CBRE, represented the seller and property developer, Oppidian Inc. Golden Capital Whittier LLC was the buyer. Bruce Francis and Shaun Moothart, with CBRE, arranged the financing on behalf of the buyer. Among the centers

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