California

Jack in the Box to Sell Del Taco Subsidiary for $115M

by Amy Works October 29, 2025

SAN DIEGO — San Diego-based Jack in the Box has entered into a definitive agreement to sell Del Taco Holdings, a wholly owned subsidiary of the company which operates and franchises more than 550 Del Taco restaurants, to Yadav Enterprises for $115 million. Yadav Enterprises operates more than 310 franchise restaurants, including Jack in the Box, Denny’s and TGI Friday’s. Yadav Enterprises also owns the Taco Cabana brand, a fast-casual, Tex-Mex restaurant chain consisting of 150 locations, and Nick the Greek, a fast-casual, Greek restaurant chain consisting of 90 locations. The transaction is expected to close by January 2026. The company expects to use the net cash proceeds after taxes and transaction costs to retire debt within its securitization structure. In line with the company’s “Jack on Track” plan announced in April, the sale of Del Taco allows for the strengthening of the company’s balance sheet and initiates the return of Jack in the Box to a “simpler, asset-light business model,” according to a release. BofA Securities Inc. is serving as exclusive financial advisor to Jack in the Box and Sullivan & Cromwell LLP is serving as its legal counsel in the transaction. Yadav Enterprises is represented by its general counsel, Steven …

October 29, 2025

California Loans Multifamily Western

Priority Capital Advisory Arranges $28M Construction Loan for Apartment Property in West Los Angeles

by Amy Works October 29, 2025

LOS ANGELES — Priority Capital Advisory has arranged a $28 million loan on behalf of CityPads, a private equity fund manager and multifamily developer with operations based in Chicago and Los Angeles. The senior debt financing will be used for the development of a 92-unit multifamily property located at 8931-8945 Helms Place in West Los Angeles. Zachary Streit of Priority Capital Advisory, along with Lucas Borges of JLL, arranged the loan. The property will feature 38 studio units (33 market rate and five affordable), 53 one-bedroom units (47 market rate, six affordable) and one affordable three-bedroom unit. Building amenities will include coworking space and a lounge, private patios, onsite parking, 9- to 10-foot ceilings and a fully built-out roof deck with 360-degree views. Construction is underway for the project, which is slated for completion in late 2026.

October 29, 2025

Acquisitions California Healthcare Western

Anchor Health Properties Acquires Bon Air Medical Center in Larkspur, California for $24M

by Amy Works October 29, 2025

LARKSPUR, CALIF. — Wareham Development Corp. has completed the sale of Bon Air Medical Center, a medical outpatient building in Larkspur, to Anchor Health Properties for $24 million. Situated on 3.6 acres at 18 Bon Air Road, Bon Air Medical Center features 27,297 square feet of multi-speciality medical outpatient space. The two single-story buildings are fully leased to MarinHealth and offer a variety of services, including cardiovascular medicine, orthopedics, imaging and spinal care. Evan Kovac, Andrew Milne, John Chun, Matt DiCesare, Anthony Sardo, Erik Hanson and Rob Hielscher of JLL represented the seller in the deal.

October 29, 2025

10605-10635-Folsom-Blvd-Rancho-Cordova-CA

Acquisitions California Retail Western

McNellis Partners Disposes of Cordova Village Retail Center in California for $20.2M

by Amy Works October 29, 2025

RANCHO CORDOVA, CALIF. — McNellis Partners has completed the sale of Cordova Village, a grocery-anchored retail center in Rancho Cordova, to a foreign private investor for $20.2 million. Located at 10605-10635 Folsom Blvd., Cordova Village features 60,617 square feet of retail space spread across three single-tenant buildings on 7.2 acres with 705 feet of Folsom Boulevard frontage. The property is fully leased to national credit tenants, including Safeway, Safeway Fuel Center and Bank of America. Eric Kathrein, Gleb Lvovich and Jeff Cicurel of JLL Capital Markets represented the seller in the deal.

October 29, 2025

California Development Multifamily Western

Hanover Co., KTGY Break Ground on Residential Building at 22-Acre Coyote Creek Village in North San Jose

by Amy Works October 28, 2025

SAN JOSE, CALIF. — Hanover Co., with KTGY as designer and architect, has broken ground on the first market-rate residential building at Coyote Creek Village, a 22-acre lifestyle-focused mixed-use community in North San Jose. KTGY has designed three market-rate residential buildings, totaling 1,140 apartments, for the development. The seven-story buildings will offer a mix of studio, one-, two- and three-bedroom apartments. Hanover Parkside (Building A) is currently underway with completion slated for fourth-quarter 2027, and Hanover Coyote Creek (Building B) is set to break ground in second-quarter 2026. The master-planned community will also feature 154 for-sale townhomes by SummerHill Homes and 136 affordable rental apartments by The Pacific Cos.

October 28, 2025

Acquisitions California Office Western

CBRE Arranges Sale of 79,528 SF Office Building in Brea, California

by Amy Works October 28, 2025

BREA, CALIF. — CBRE has arranged the sale of an office property located at 120 S. State College Blvd. in Brea. A local private investor acquired the asset from an undisclosed seller for $19.5 million. Anthony DeLorenzo, Sammy Cemo, Bryan Johnson and Harry Su of CBRE represented the seller in the deal. Built in 1985 and renovated in 2015, the 79,528-square-foot property is situated on 2.3 acres within Brea Place. At the time of sale, the property was fully leased to six tenants, including County of Orange, Calif., CareFusion, Whittier Filtration, HdL Cos. and Yellow Box Corp.

October 28, 2025

Acquisitions California Net Lease Restaurant Retail Western

Hanley Investment Group Brokers $4.3M Sale of Starbucks-Occupied Retail Property in Azusa, California

by Amy Works October 28, 2025

AZUSA, CALIF. — Hanley Investment Group Real Estate Advisors has negotiated the sale of a newly renovated single-tenant restaurant property at 843 Arrow Highway in Azusa. Los Angeles-based California Icon LLC sold the asset to Glendale, Calif.-based MTSA Properties for $4.3 million. The 3,800-square-foot Starbucks Coffee-occupied building was originally constructed in 1970 and renovated in 2025 to meet the company’s newest prototype. The property features a café with interior seating, a patio and a drive-thru. The asset is secured by a new long-term absolute triple-net lease with minimal landlord responsibilities, according to Bill Asher of Hanley Investment Group. Asher and Jeff Lefko of Hanley Investment Group represented the seller, while Sheila Alimadadian of Marcus & Millichap represented the buyer in the deal.

October 28, 2025

Acquisitions California Office Western

CBRE Negotiates Sale of 46,527 SF Stewart Plaza Office Property in Upland, California

by Amy Works October 27, 2025

UPLAND, CALIF. — CBRE has negotiated the sale of Stewart Plaza, a Class A office property located at 440 N. Mountain Ave. in Upland. A partnership between a local investor and a medical group acquired the asset from Stewart Plaza Owner LLC for $9 million. Sammy Cemo, Austin Reuland, Anthony DeLorenzo and Bryan Johnson of CBRE represented the seller in the deal. The three-story, 46,527-square-foot property has recently undergone more than $1 million in renovations, including a roof replacement, elevator modernization, HVAC replacements, lobby upgrades, new lobby and exterior furniture and a new digital directory.

October 27, 2025

Acquisitions California Retail Western

IPA Brokers Sale of 21,876 SF Echo Park Village Retail Center in Los Angeles

by Amy Works October 27, 2025

LOS ANGELES — Institutional Property Advisors (IPA) has brokered the sale of Echo Park Village, a 21,876-square-foot retail center located in the Los Angeles neighborhood of Echo Park. The buyer is Optimus Properties LLC. Built in 1921 and renovated in 2019, tenants at the property include Gra Pizzeria, Clark Street Bread, One Down Dog yoga studio, Butchr Bar, The Strength Shoppe, Henrietta and A Good Used Book. Echo Park Village was 78 percent leased at the time of sale. IPA represented the seller.

October 27, 2025

Tower-Plaza-Commercial-Center-Yucaipa-CA

Acquisitions California Healthcare Office Restaurant Retail Western

Progressive Real Estate Partners Arranges $7M Sale of Tower Plaza Commercial Center in Yucaipa, California

by Amy Works October 27, 2025

YUCAIPA, CALIF. — Progressive Real Estate Partners has negotiated the sale of Tower Plaza Commercial Center, a retail and office property located at 34590-34664 County Line Road in Yucaipa. Greg Bedell of Progressive Real Estate Partners represented the seller, a private Inland Empire-based investor and the original developer of the property, while Tricia Cerda of REMAX Redlands represented the buyer, an Inland Empire-based private investor. Built in 1995, Tower Plaza Commercial Center offers 39,422 square feet of commercial space spread across three buildings. At the time of sale, the property was fully occupied by 27 tenants, including food, healthcare, beauty, finance, office and retail users. The units range in size from 240 square feet to 2,200 square feet.

October 27, 2025

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