Retail

HUNTINGTON BEACH, CALIF. — Edinger Plaza, a 155,000-square-foot retail center in Huntington Beach, has completed its $20-million renovation, which commenced in late 2011. Improvements to the plaza included site, landscaping and exterior upgrades. A few of the center’s buildings were also expanded. They include a vacant 25,000-square-foot building that was expanded to 47,948 square feet to accommodate Dick’s Sporting Goods; another vacant building that was expanded to 34,000 square feet to accommodate Nordstrom Rack; and a Michaels store that was expanded to 25,000 square feet. The center also received a new drive-thru Starbucks. Edinger Plaza is now 94 percent leased. Ken Shishido and Chris Wilson of Wilson Commercial Real Estate serve as the center’s leasing agents, while Coreland Companies oversees the property management. MPA acted as project manager of the plaza’s redevelopment.

ONTARIO, CALIF. – A 2,313-square-foot property in Ontario that is triple-net leased to Taco Bell has sold to a private investor for $2.06 million. It is located at 2544 S. Archibald Ave. Taco Bell recently renewed its long-term corporate lease for another 20 years. Phil Voorhees, John Read, Patrick Toomey and Megan Read of CBRE’s National Retail Investment Group-West represented the seller in this transaction.

SALT LAKE CITY — Spirit Realty Capital has acquired six Sportsman’s Warehouse properties in a sale-leaseback transaction with the Salt Lake City-based retailer. The transaction was valued at more than $45 million. The stores are located in Midvale, Utah; Thornton and Loveland, Colo.; Phoenix and Mesa, Ariz.; and Ankeny, Iowa. They range in size from 43,725 square feet to 57,055 square feet. Sportsman’s will continue to operate the stores under a 15-year lease agreement. The retailer was represented by Bryce Blanchard of NAI West; Chris Hatch of Mountain West; and Jason Smith of Global Corporate Solutions. Other NAI Realty Network affiliates also participated in this transaction. Spirit Realty Capital was represented by Hope Sherman of NAI Ohio Equities.

SALT LAKE CITY — Spirit Realty Capital has acquired six Sportsman’s Warehouse properties in a sale-leaseback transaction with the Salt Lake City-based retailer. The transaction was valued at more than $45 million. The stores are located in Midvale, Utah; Thornton and Loveland, Colo.; Phoenix and Mesa, Ariz.; and Ankeny, Iowa. They range in size from 43,725 square feet to 57,055 square feet. Sportsman’s will continue to operate the stores under a 15-year lease agreement. The retailer was represented by Bryce Blanchard of NAI West; Chris Hatch of Mountain West; and Jason Smith of Global Corporate Solutions. Other NAI Realty Network affiliates also participated in this transaction. Spirit Realty Capital was represented by Hope Sherman of NAI Ohio Equities.