California

Space Investment Partners Buys Grocery-Anchored Shopping Center in Fullerton, California for $118.5M

by Amy Works July 15, 2025

FULLERTON, CALIF. — Space Investment Partner has acquired Fullerton Metrocenter, a grocery-anchored retail center in Fullerton, from Kite Realty for $118.5 million. Located at 1375 Harbor Blvd., Fullerton Metrocenter offers 385,703 square feet of retail space occupied by more than 40 national and local retail tenants, including Sprouts Farmers Market, Target, Urban Air Adventure Park and PetSmart. The property was built in 1988 and renovated in 2002. At the time of sale, the property was 97 percent occupied. Christopher Hoffmann, Mark Damiani and Chase Levra of Eastdil Secured represented the seller in the transaction. Eastdil also arranged acquisition financing on behalf of the buyer. Greg Stampley and Jessica Henning of Eastdil Secured led the debt process.

July 15, 2025

California Loans Multifamily Western

Cisterra Development, Spruce Capital Receive $98M in Refinancing for Radian Apartments in San Diego

by Amy Works July 15, 2025

SAN DIEGO — A partnership between Cisterra Development and Spruce Capital Group has received a $98 million loan for the refinancing of Radian, a Class A apartment property in San Diego. Located at 675 Ninth Ave., Radian offers 241 one-, two- and three-bedroom units, including five penthouses. The community features a two-story ground-floor retail area and a rooftop pool and spa with views of Petco Park, downtown San Diego and the San Diego Bay. Mark McGovern, Scott Peterson and Morgon Fraser of CBRE Capital Markets’ Debt & Structured Finance team arranged the three-year, fixed-rate permanent loan on behalf of the borrower.

July 15, 2025

Acquisitions California Industrial Western

CBRE Brokers $7.9M Sale of Industrial Property in National City, California

by Amy Works July 15, 2025

NATIONAL CITY, CALIF. — CBRE has arranged the sale of an industrial building located at 2100 Haffley Ave. in National City. ALC Investments, a local owner-occupier, acquired the asset for $7.9 million. Situated on 2 acres, the 24,140-square-foot property offers 18-foot clear heights, one grade-level door, five dock-high doors and two rail-served doors. Matt Harris, Matt Porch and Anthony DeLorenzo of CBRE represented the undisclosed seller in the deal.

July 15, 2025

Acquisitions California Retail Western

Hanley Investment Group Negotiates $2.6M Sale of Retail Property in El Centro, California Leased to Dutch Bros Coffee

by Amy Works July 15, 2025

EL CENTRO, CALIF. — Hanley Investment Group Real Estate Advisors has negotiated the $2.6 million sale of a single-tenant retail building located in El Centro. Dutch Bros Coffee occupies the drive-thru property on a 15–year, absolute triple-net-lease with 10 percent rental increase every five years. Formerly a Wendy’s restaurant, the 2,411-square-foot building was originally built in 1988. Situated on an outparcel to a Vons-anchored retail center, nearby tenants include Smart & Final Extra!, Dollar General Market, Costco, Lowe’s Home Improvement, Target and Ashley Furniture. Bill Asher, Jeff Lefko and Beau Velten of Hanley Investment Group represented the seller and developer, Portland-based Cole Valley Partners, in the transaction. Bill Johnson of KW Commercial represented the buyer, a Northern California-based private investor.

July 15, 2025

California Development Multifamily Seniors Housing Western

Shopoff Realty Receives Approval from Fountain Valley, California for 18-Acre Residential Project

by Amy Works July 14, 2025

FOUNTAIN VALLEY, CALIF. — Shopoff Realty Investments has received unanimous approval from the Fountain Valley Planning Commission for Euclid + Heil, an 18-acre residential housing project in Fountain Valley. In partnership with Lennar and National CORE, Euclid + Heil will feature 304 market-rate apartments units, 83 affordable seniors housing units, 36 two-story, for-sale triplexes and 183 three-story, for-sale townhomes. Planned community amenities include pools, parks, game areas, grilling stations, play areas and more designed to foster a vibrant and inclusive neighborhood. After acquiring the site in 2021, Shopoff began working closely with the City of Fountain Valley and its residents to plan and integrate new housing into the community. Shopoff submitted the project entitlement package in January 2024, and the firm has now secured all necessary approvals to proceed to the next phase of development. Shopoff and Lennar plan to begin grading the site later this year. The market-rate apartments and senior affordable housing components are slated for completion by summer 2028, while the for-sale homes will be delivered in phases, with the first phase opening in summer 2028 and the final phases extending into spring 2029.

July 14, 2025

California Loans Office Western

Luzzatto Co. Receives $32.4M C-PACE Financing for Depot & Atlas Office Campus in Los Angeles

by Amy Works July 14, 2025

LOS ANGELES — The Luzzatto Co. has received $32.4 million in C-PACE financing through Nuveen Green Capital for Depot & Atlas, a creative office campus in Los Angeles’ West Adams submarket. Jeff Sause and Lauren Sackler of JLL Capital Markets Debt Advisory team arranged the financing for the borrower. Located at 3609-3645 10th Ave., Depot & Atlas offers 107,156 square feet of Class A space spread across two buildings, as well as two stories of subterranean parking. After acquiring the site in 2019, The Luzzatto Co. developed the Depot, a 94,726-square-foot creative office building, in late 2023 and redeveloped the neighboring 12,430-square-foot Atlas building. The property was 39 percent leased at the time of financing, with the Los Angeles Department of Mental Health occupying the entire first floor of the building.

July 14, 2025

Acquisitions California Industrial Western

Steel Peak Sells Industrial Outdoor Storage Property in El Cajon, California for $9.5M

by Amy Works July 14, 2025

EL CAJON, CALIF. — Steel Peak has completed the sale of an industrial outdoor storage (IOS) property on 2.5 acres at 1324-1336 Magnolia Ave. in El Cajon. C&M Manufacturing acquired the asset for $9.5 million. The buyer will occupy the 12,000-square-foot property for its operations, including the production and distribution of its products for the oil-and-gas industry. The property includes warehouse and office space and yard space for outdoor storage. The asset offers M-54 zoning, entitlement for outside storage, multiple access points and a level fenced yard. Cameron Czubernat and Kerry Schimpf of Commercial Property Group represented the seller, while Aidan Jones of Inland Pacific represented the buyer in the transaction.

July 14, 2025

Acquisitions California Retail Western

BH Properties Buys 24,604 SF Multi-Tenant Retail Center in Fairfield, California

by Amy Works July 11, 2025

FAIRFIELD, CALIF. — BH Properties has acquired a dual-building, multi-tenant retail property located at 1370-1380 Holiday Lane in Fairfield for an undisclosed price. The 24,064-square-foot property consists of two buildings situated on a 2.3-acre parcel. At the time of sale, the center was 58 percent vacant. Current tenants include Aspen Dental, Peet’s Coffee & Tea, Togo’s Sandwich Shop and Golden 1 Credit Union.

July 11, 2025

Acquisitions California Multifamily Seniors Housing Western

NAI Capital Negotiates $5.1M Sale of Assisted Living Site Slated for Adaptive Reuse in Pasadena

by Amy Works July 10, 2025

PASADENA, CALIF. — NAI Capital Commercial has arranged the sale of a former assisted living facility located at 1450 N. Fair Oaks Ave. in Pasadena. Agri Capital sold the asset to 1450 N Fair Oaks LLC for $5.1 million, or $180 per square foot of building area and $147 per square foot of land. Stephen Lam, Guillermo Olaiz and John Archibald of NAI Capital represented the seller in the deal. The 28,512-square-foot, 42-unit former nursing facility is situated on a 34,980-square-foot lot and was vacant at the time of sale. The owner plans to repurpose the building as a temporary housing facility focused on mental health support and substance use prevention.

July 10, 2025

Acquisitions California Restaurant Retail Western

CBRE Brokers $1.7M Sale of Starbucks-Occupied Retail Property in San Diego

by Amy Works July 10, 2025

SAN DIEGO — CBRE has arranged the sale of a retail property located at 3352 Adams Ave. in San Diego. Corner Properties sold the asset to 3352 Adams LLC for $1.7 million. The 1,730-square-foot property features a long-term, triple-net lease with Starbucks Coffee. Reg Kobe, Joel Wilson and Michael Peterson of CBRE represented the seller, while Andrew Slade of CIRE Partners represented the buyer in the deal.

July 10, 2025

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