Retail

ESCONDIDO, CALIF. — Location Matters has brokered the sale of a retail property located at 237 and 243 E. Valley Parkway in downtown Escondido. David Baker of H Street Plaza LLC sold the property to Evan Weinberg of Steven Beverages Inc. for $1.3 million. The 9,300-square-foot property features two retail units: a 7,000-square-foot CrossFit Iconic and a 2,300-square-foot vacant space. The buyer plans to repurpose the vacant space into a brewery and coffee concept by Cismontane Brewing, a microbrewery. Marc Karren of Location Matters represented the seller in the transaction.

SAN DIEGO — Pacific Coast Commercial has arranged the sale of a retail building located at 1040 Garnet Ave. in San Diego. John & Mahin Family Trust acquired the property from John Watts for $1.2 million. The 2,600-square-foot retail property was occupied by The Ink Spot for more than 20 years. Martin Alfaro and Vince Provenzano of Pacific Coast Commercial represented the seller, while John Noble of JN Financial represented the buyer. The buyer plans to lease the property to a new tenant.

LOS ANGELES, SAN DIEGO AND BAKERSFIELD, CALIF. — Hanley Investment Group Real Estate Advisors has completed the sales of three 7-Eleven properties in separate transactions with a combined valued of $9.1 million. In Los Angeles, a private investor acquired a two-tenant retail property for $4.4 million. Built in 1977, the 4,722-square-foot property is occupied by 7-Eleven and Launderland Laundry. Jeremy McChesney of Hanley Investment represented the seller, a private investor from Los Angeles, while Michael Irvine of Bulldog Realtors represented the buyer in the 1031 exchange. In the second transaction, a Los Angeles-based family trust purchased a single-tenant 7-Eleven located in San Diego. A private investor from Los Angeles sold the 2,403-square-foot property, which was built in 1970, for $1.9 million. Allen Park of Packo Investments represented the buyer in the deal. In the third deal, McChesney represented the seller, a private investor, in the disposition of a single-tenant 7-Eleven store and gas station located in Bakersfield. A private investor from Clovis acquired the 3,000-square-foot property for $2.8 million. Sharhan Mheni of Marcus & Millichap represented the buyer in the transaction.