SANTA MONICA, CALIF. – A 1,987-square-foot retail property in Santa Monica has sold to an unnamed buyer for $1.85 million. It is located at 2301 Wilshire Blvd. across from a Whole Foods Market. The buyer was represented by Mitch Stokes of Madison Partners. The unnamed seller was represented by Geno St. John, William Althouse and T.C. Macker of Coldwell Banker Commercial WESTMAC.
SUPERIOR, COLO. – Kumon Learning Center has leased 1,405 square feet of space at Superior Marketplace in Superior. Kumon was represented by Jetta Yacovetta of West USA Premier. The landlord, Brixmor Property Group, was represented in-house by Paul Sheppard.
RIVERSIDE, CALIF. – Riverside Plaza, a 475,211-square-foot retail center, has been sold to a joint venture between Vestar and a fund advised by UBS Global Asset Management for $84.8 million. The center is 92 percent leased. It is anchored by Vons Supermarket, Trader Joes, CVS Pharmacy and Regal Cinemas Stadium 16. Other notable tenants include Forever 21, Chico’s, JoS. A. Bank, El Torito, California Pizza Kitchen, Islands Burgers, Chase Bank, Panera Bread, Chipotle, Wendy’s and El Pollo Loco. The seller, Westminster Funds, was represented by HFF’s Bryan Ley, Ryan Gallagher, John Crump and CJ Osbrink. Vestar represented itself in this all-cash transaction.
MONTGOMERY, ALA. — A 13,706-square-foot CVS/pharmacy, located at 3050 Zelda Road in Montgomery, has sold for $4.21 million. The company has 19 years remaining on its lease. Included in the sale was the assumption of a CMBS loan through Wells Fargo. Terry Marks of National Net Lease Realty represented the seller, a Southern California based limited liability company, in the transaction. A California-based broker represented the buyer.
FALL RIVER, MASS. — Sam's Club plans to open a 160,000-square-foot location at the new Crossroads at 24 retail complex in Fall River. The property will be adjacent to the 165,000-square-foot Walmart, currently under construction. The store will mark the first Sam's Club in the South Coast region, and is expected to generate $3 million annually in tax revenue for the Commonwealth of Massachusetts. Construction is slated to begin later this year. A partnership between First Bristol Corp. and Marshall Properties is developing the Crossroads at 24, a 350,000-square-foot, mixed-use retail center.
RIVERSIDE, CALIF. – Riverside Plaza, a 475,211-square-foot retail center, has been sold to a joint venture between Vestar and a fund advised by UBS Global Asset Management for $84.8 million. The center is 92 percent leased. It is anchored by Vons Supermarket, Trader Joes, CVS Pharmacy and Regal Cinemas Stadium 16. Other notable tenants include Forever 21, Chico’s, JoS. A. Bank, El Torito, California Pizza Kitchen, Islands Burgers, Chase Bank, Panera Bread, Chipotle, Wendy’s and El Pollo Loco. The seller, Westminster Funds, was represented by HFF’s Bryan Ley, Ryan Gallagher, John Crump and CJ Osbrink. Vestar represented itself in this all-cash transaction.
RANCHO CUCAMONGA, CALIF. — A 177,550-square-foot industrial building in Rancho Cucamonga has sold to a joint venture between CT Realty Investors and Artemis Real Estate Partners for $10.25 million. The property is located at 10404 Sixth Street. It is fully leased to GITI Tire USA. The joint venture was represented by Ryan Lal and Jeff Smith of Lee & Associates’ Ontario office. The seller was represented by Ken Jones and Scott Ostlund from the same office.
LOVELAND, COLO. — Bass Pro Shops has signed on to anchor a major new development at Centerra, an expansive retail complex. The outdoor store will absorb about 117,000 square feet. Centerra also includes The Promenade Shops, a 700,000-square-foot lifestyle mall, The Marketplace at Centerra, a large retail power center and the Motorplex, an auto complex with eight major dealers.
FORT COLLINS, COLO. — The Whole Foods Center, a 68,334-square-foot, two-tenant retail center in Fort Collins, has sold to a private real estate fund advised by Crow Holdings Capital Partners. The fund also assumed an existing CMBS loan. The property is located at 2201 South College Ave. It is fully leased to Whole Foods and Wilbur’s Total Beverage. The seller, a private investor, was represented by HFF’s Bryan Ley, Barry Brown and John Crump.
GREENVILLE, S.C. — Four Springs Capital Trust has acquired a 14,465-square-foot Walgreens, located in Greenville, for $5.62 million. The initial 25-year lease on the property expires on Jan. 31, 2030. Additionally, there are 10 five-year renewal options at the end of the initial lease term.