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Marcus & Millichap Arranges $39.6M Sale of Shopping Center in Folsom

FOLSOM, CALIF. — Marcus & Millichap has arranged the sale of Walmart Central Shopping Center, a retail property located at 1002-1016 Riley St. in Folsom. A private investor sold the property for $39.6 million. Built in 1992, the property features 139,277 square feet of retail space. Tyler Stevens of Marcus & Millichap represented the seller. The name of the buyer was not released. Kent Williams, also of Marcus & Millichap, is the broker of record in California.

August 18, 2017

CBRE Brokers Sales of Three Dollar Stores in Metro LA Totaling $12.4M

WALNUT PARK, HUNTINGTON PARK AND HAWTHRONE, CALIF. — CBRE has arranged the sales of three 99 Cents Only stores in Walnut Park, Huntington Park and Hawthorne. The combined transaction value of the sales is $12.4 million. M&M Investments purchased the 7,943-square-foot location at 2566 E. Florence Ave. in Walnut Park, while Aria Venture Capital acquired the 15,000-square-foot property at 6124 Pacific Blvd. in Huntington Park and the 15,000-square-foot location at 13023 Hawthorne Blvd. in..

August 18, 2017

Infiniti of Montclair Acquires Land Parcel in Ontario for New Dealership Location

ONTARIO, CALIF. — Infiniti of Montclair has acquired a four-acre land parcel on Inland Empire Boulevard at the Meredith International Centre in Ontario for $4.9 million. The buyer plans to relocate its existing car dealership to a new facility. Construction is slated to be completed in 2018. Chuck Noble, John Hatzis, Dave Hunsaker and Brett Meredith of Lee & Associates represented the buyer and seller, Craig Development Corp., in the deal.

August 18, 2017

Sweet Kream Froyo Signs 1,215 SF Lease at Heritage Town Center in Chula Vista

CHULA VISTA, CALIF. — Sweet Kream Froyo is opening a location at Heritage Town Center, located at 1392 E. Palomar St. in Chula Vista. The frozen yogurt shop leased 1,215 square feet of space at the mixed-used project, which Paragon Real Estate Fund owns. The location is slated to open in September. Joe Yetter of Cushman & Wakefield represented the tenant and landlord in the deal. Heritage Town Center features 38,000 square feet of ground-floor retail space and 91 residential..

August 18, 2017

NewMark Merrill Cos. Negotiates Restaurant Lease at Janss Marketplace in Thousand Oaks

THOUSAND OAKS, CALIF. — NewMark Merrill Cos. has signed a new restaurant at Janss Marketplace, a shopping center located at the Moorpark Road and Hillcrest Drive in Thousand Oaks. Azi Grill, owned by Mazen Nadour, will feature Mediterranean cuisine, as well as American fare.

August 18, 2017

Bellwether Enterprise Arranges $185M Refinancing for Multifamily Portfolio in California, Maryland

LOS ANGELES, WOODLAND HILLS, CALIF. AND LAUREL, MD. — Bellwether Enterprise Real Estate Capital LLC has arranged three loans totaling $185.1 million for the refinancing of a multifamily portfolio located in California and Maryland. The portfolio consists of three properties totaling 1,384 units. The assets include: Avalon Russet in Laurel, Md.; eaves Woodland Hills in Woodland Hills, Calif.; and eaves Los Feliz in Los Angeles. Kip Kimble of Bellwether Enterprise arranged the 10-year..

August 18, 2017

Grandbridge Negotiates $90M Refinancing for Apartment Complex in San Francisco

SAN FRANCISCO — Grandbridge Real Estate Capital has arranged a $90 million refinancing for the 414-unit South Beach Marina Apartments in San Francisco. The community is located at 2 Townsend St. in the South of Market (SOMA) neighborhood. South Beach was built in 1989. It features 4,708 square feet of ground-floor retail that is currently occupied by two restaurants and a salon. Community amenities include two tennis courts, a luxury lobby/lounge area, community/billiards room, landscaped..

August 17, 2017

The Opus Group to Build 147,672 SF Spec Industrial Project in Mesa

MESA, ARIZ. — The Opus Group has announced plans to build a 147,672-square-foot speculative industrial project inside the Longbow Business Park and Golf Club in Mesa. The project will be called Longbow Gateway One. Construction is scheduled to begin this month, with an estimated completion date of January 2018. The project will be situated near the southeast corner of Higley Road and Longbow Parkway, near the 2 million-square-foot Boeing Co. manufacturing facility. Opus Design Build..

August 17, 2017

Panattoni Development Completes $24M Airport Industrial Center in Henderson

HENDERSON, NEV. — Panattoni Development has completed a 482,300-square-foot industrial building at South 15 Airport Center in the Las Vegas submarket of Henderson. The building is situated on a 28-acre parcel on Executive Airport Drive. The $24 million project has a clear height of 36 feet. The project is the only large industrial development located in the south end of the valley, according to Panattoni. PDC USIF South 15 LLC, a joint venture between Panattoni Development and Hillwood,..

August 17, 2017

Red Stone Partners Arranges $18.8M in Bonds to Preserve Three Affordable Communities Near LA

LOS ANGELES — Red Stone Tax-Exempt Funding LLC recently provided $18.8 million in bond financing to BlueGreen Preservation and Development. The tax-exempt bonds will be used to acquire and rehabilitate a 90-unit portfolio of affordable seniors housing properties in the Los Angeles metro area. The properties acquired are Pacific Rim Apartments, Rancho Del Valle and Maple Park Apartments. The properties all benefit from Section 8 rental subsidies that were extended for 20 years to ensure the..

August 17, 2017