Retail

RANCHO CUCAMONGA, CALIF. — Passco Companies LLC has acquired Day Creek Village, a 25,002-square-foot shopping center located in Rancho Cucamonga, for $15.8 million. Tenants at the fully occupied center include Starbucks Coffee, Wells Fargo, Super Cuts, Subway and Orange Theory Fitness. Ralph’s grocery store shadow-anchors the property. CJ Osbrink and Gleb Lvovich of HFF represented Passco and the seller, Day Creek Village LLC, in the off-market transaction.

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SANTA MONICA, CALIF. — Santa Monica-based brokerage firm Main + Main has named Mike Clark as its executive director. Prior to joining Main + Main, Clark spent 20 years with Cushman & Wakefield. Clark will be based in the company’s San Diego office, and will specialize in shopping centers, retail strip centers and freestanding retail buildings in the San Diego area.

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Pearl Britain Plaza Publix Ocala

OCALA, FLA. — Crossman & Co. has brokered the $4.4 million sale of Pearl Britain Plaza, an 82,216-square-foot, Publix-anchored shopping center in northeast Ocala. A private investor based in Coral Gables, Fla., purchased the shopping center and its 18.5-acre site from Troy, Mich.-based Pearl Britain Development. The property was 70 percent leased at the time of sale. Mark Thompson of Crossman & Co. represented the seller in the transaction. Thompson has recently negotiated the sale of two other Central Florida shopping centers: the Shoppes at Andover in Orlando and the Plaza Del Sol in Longwood.

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YPSILANTI, MICH. — Namdar Realty Group has acquired a 160,500-square-foot retail center in Ypsilanti, approximately eight miles southeast of Ann Arbor, for an undisclosed price. Gault Village Marketplace is a one-story shopping center that includes tenants such as Family Dollar, Advance America, Measurement Incorporated, New Image Beauty, China One and Gault Village Cleaners. Namdar plans on upgrading the property and targeting new tenants. Gault Village Marketplace is located at 1005-1075 Emerick St. The property is situated on 13.2 acres and includes 1,200 parking spaces. Joel J. Gorjian of Namdar completed the acquisition on behalf of the company. The seller in the transaction was a private investor.

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Westgate-texas-la-fitness

HOUSTON — Faris Lee Investments has completed the $25.1 million sale of Westgate Market, an 80,690-square-foot shopping center in Houston. The property is anchored by a freestanding LA Fitness, and is 91 percent occupied by tenants including The Vitamin Shoppe, Massage Envy, Panera Bread and Applebee’s. Nicholas Coo, Matthew Mousavi and Patrick Luther of Faris Lee Investments represented the seller, a Los Angeles-based private investor. The buyer, an Argentina-based private real estate holding company, represented itself in the transaction. Built in 2004 and 2005, Westgate Market is located at 19504 to 19740 Katy Freeway (I-10) and 19950 Restaurant Row, at the intersection of I-10 Frontage Road and Foxlake Drive.

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ALAMO, CALIF. — Donahue Schriber Realty Group has acquired Alamo Plaza, a 195,147-square-foot shopping center located in Alamo, from Investco Advisors Inc. for an undisclosed price. Safeway anchors the center, which is also home to tenants including Rite-Aid, 24 Hour Fitness, Richards Arts and Crafts, Peet’s Coffee & Tea and Panera Bread.

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ELK GROVE, CALIF. — NorthMarq Capital has arranged a $4.2 million refinancing for Laguna Palms, a retail property located at 9105 Bruceville Road in Elk Grove. The 15-year loan features a 25-year amortization schedule. Tenants at the 23,869-square-foot property include U.S. Post Office and Goodwill. Blake Melstrom of NorthMarq Capital’s Los Angeles office secured the financing for the undisclosed borrower.

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