California Centers

MAY 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 48 California Centers Magazine | May 2018 REDLANDS Kenpo Judo Martial Arts – a 3,500 sq. ft. lease for a studio opening at Fountain Cen- ter, located at 501 W. Redlands Blvd. BSD 501 Redlands LLC is the lessor. Gretchen Lastra, with Progressive Real Estate Part- ners in Rancho Cucamonga, represented the lessee in the transaction. Pain Solutions Massage – a 1,500 sq. ft. lease for a massage facility opening at Fountain Center, located at 501 W. Red- lands Blvd. Gretchen Lastra, with Pro- gressive Real Estate Partners in Rancho Cucamonga, represented the lessee in the transaction. SAN BERNARDINO Starbucks – a new, single-tenant occupied 3,000 sq. ft. corporate leased building, lo- cated on 1.15 acres at the intersection of University Pkwy. And N. State Street, has been sold for $5.29 million. It is the high- est recorded price for a newly construct- ed Starbucks Café in the U.S. on record. Michael Walseth, with SRS' National Net Lease Group in San Bernardino, represent- ed the seller, an Orange County-based real estate investment firm. Chris Nikchevich, with TNG Real Estate Services Inc., rep- resented the local private 1031 exchange buyer in the transaction. Bridal Boutique – a 1,370 sq. ft. lease for a formalwear store opening at Thomas Winery Plaza, located at 7965 Vineyard Avenue. Thomas Winery Plaza Property Owner LLC is the lessor. Paul Su and Mag- gie Gonzalez, with Progressive Real Estate Partners in Rancho Cucamonga, represent- ed the lessee in the transaction. Guadalajara Furniture – a 9,800 sq. ft. lease for a furniture store opening at the Kelly Paper shopping center, located at 780 Inland Center Drive. 2Tes Family Trusyt is the lessor. Pablo Velasco, with Progressive Real Estate Partners in Rancho Cucamon- ga, represented the lessee in the transac- tion. Adrenaline Martial Arts and Fitness Inc. – a 12,982 sq. ft. lease for a martial arts stu- dio opening in 780 Inland Center Drive. 2Tes Family Trust is the lessor. Pablo Vel- asco, with Progressive Real Estate Partners in Rancho Cucamonga, represented the lessee in the transaction. SAN DIEGO COUNTY SAN DIEGO A 17,462 sq. ft. retail property – located in the Gaslamp Quarter and occupied by Ghirardelli Café and Urban Outfitters, has been sold for $19.9 million. Bill AShrader, David Maxwell, Joe Brady and Serema Patterson, with Colliers International, rep- resented the seller, ASP/Blatteis 665 Urban 5 th Venture LLC, and the undisclosed buyer in the transaction. Colliers is also handling leasing of a 2,692 sq. ft. unit positioned be- tween the two existing tenants. Kloiber Fit – a 2,459 sq. ft. lease for a high- end fitness center due to open at 2155 Kettner Boulevard. F45 Training is the les- see of the space, located at AV8, a 129-unit apartment complex. Erik Anderson, with Pacific Coast Commercial, represented the lessee. Alex Drecksel and Pasquale Loele, with Flocke & Avoyer, represented the les- sor, CVCM Kettner 106 LLC, in the $1.3 million transaction. A 5,485 sq. ft. freestanding restaurant — lo- cated at 5351 Adobe Falls Rd. in East Mis- sion Valley has sold for $1.85 million. The building, which originally housed Nico- losi's Italian Restaurant, was sold to Da- vies LLC, an affiliate of Cohn Restaurant Group. Mike Spilky of Location Matters represented the seller, L&L Acquisitions LLC. SAN FRANCISCO COUNTY SAN FRANCISCO SummerHill Communities – a mixed- use project is planned at a property across from the future site of the Community Civic Campus (at the gateway to the El Camino/Chestnut Ave. area), located at 988 El Camino Real in South San Francis- co. The City Council gave its approval in mid-March for the six-story project, which will feature 172 apartments and 11,000 sq. ft. of ground-floor retail space. In addition to a lounge, fitness studio, dog park, club room, fire pits, an outdoor kitchen and a spur trail connecting to Centennial Way Trail, the site will feature commercial and visitor parking at ground level and an un- derground parking garage for residents. KTGY Architecture + Planning is the proj- ect's designer. SANTA CLARA COUNTY SAN JOSE Eastridge Center – Pacific Retail Capital Partners held the grand reopening cele- bration of this 1.4 million sq. ft. shopping center in early April. The redevelopment includes a full interior remodel, new fami- ly areas, a new look for The Eatery, added vehicle charging stations, new entrances, community gathering spaces and four ex- terior murals commissioned by local art- ists. Among tenant at the site are Macy's, JC Penney, Red Robin, AMC IMAX The- ater, Round 1 Bowling, H&M, Victoria's Secret and Forever 21 RED. TULARE COUNTY PIXLEY An 8,320 sq. ft. property – located at 339 N. Park Drive, has been sold for an un- disclosed price. FD Partners was the sell- er. Dr. Donald Studt was the buyer. Lewis Smith and John Lee, with Retail California, in conjunction with Calvin Short of Mat- thews Retail Advisors, negotiated terms of the transaction. TULARE The Habit Burger Grill – a 16,837 sq. ft. restaurant is opening at 989 E. Prosperity Ave. Prosperity Equity Partners is the les- sor. Nick Frechou, with Retail California, in conjunction with Shane Anderson, with Commercial Retail Associates, negotiated the terms of the lease transaction.

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