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843-Arrow-Hwy-Azusa-CA
AcquisitionsCaliforniaNet LeaseRestaurantRetailWestern

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

by Amy Works

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.

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Stewart-Plaza-Upland-CA
AcquisitionsCaliforniaOfficeWestern

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

by Amy Works

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.

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Echo-Park-Village-Los-Angeles-CA
AcquisitionsCaliforniaRetailWestern

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

by Amy Works

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.

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Tower-Plaza-Commercial-Center-Yucaipa-CA
AcquisitionsCaliforniaHealthcareOfficeRestaurantRetailWestern

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

by Amy Works

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.

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Falls-at-Arden-Sacramento-C
AcquisitionsCaliforniaMultifamilyWestern

Demmon Partners Sells 272-Unit Multifamily Community in Sacramento for $54.6M

by Amy Works

SACRAMENTO — Demmon Partners has completed the sale of The Falls at Arden, an apartment property located at 2345 Northrop Ave. in Sacramento. Jackson Square Properties, a locally based multifamily real estate investment company, acquired the asset for $54.6 million. Built in 1986, The Falls at Arden features 272 studio, one- and two-bedroom floor plans averaging 679 square feet. Ninety percent of the units have been renovated with luxury vinyl plank flooring, quartz countertops, stainless steel appliances and new cabinets. Community amenities include a pool with deck and spa, fitness center and a fully renovated clubhouse with a demonstration kitchen, game room and movie theater. Demmon Partners also added an outdoor fireplace, parcel locker room, secure indoor mail room, a pet spa and a bike storage room to the community amenities. At the time of sale, the property was 97 percent leased. Marc Ross, Joe McNamara and Claire Holt of CBRE represented the seller in the deal. Ryan Greer and Trevor Breaux of CBRE arranged acquisition financing on behalf of the buyer.

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38491-Fremont-Blvd-Fremont-CA
AcquisitionsCaliforniaIndustrialSelf-StorageWestern

Levin Johnston Brokers Sale of 568-Unit Extra Space Storage Facility in Fremont, California

by Amy Works

FREMONT, CALIF. — The Levin Johnston team of Marcus & Millichap has arranged the sale of an Extra Space Storage property totaling 49,922 square feet in Fremont. A private real estate investor sold the self-storage facility to an institutional self-storage developer, operator and manager for $18.8 million. Located at 38491 Fremont Blvd., Extra Space Storage offers 568 units, most with drive-up access, controlled access gated entry and 24-hour closed circuit surveillance. The Levin Johnston team represented the seller and procured the buyer in the deal.

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12898-Towne-Center-Cerritos-CA
AcquisitionsCaliforniaOfficeWestern

CBRE, Colliers Arrange $10.1M Sale of 80,821 SF Office Property in Cerritos, California

by Amy Works

CERRITOS, CALIF. — CBRE and Colliers have arranged the $10.1 million sale of an office building located at 12898 Towne Center in Cerritos. CBRE’s Mark Shaffer, Sean Sullivan, Grant Goldman, Mike Longo and Melissa Moock, along with Todd Tydlaska of Colliers, advised the receiver, Ryan C. Baker of Verax Business Group, in the transaction. CBRE’s Tom Sheets represented the undisclosed buyer in the deal. Situated on 4.6 acres, the two-story building offers 80,821 square feet of office space. Built in 1993 as part of the three-phase Cerritos Towne Center, the building features large, efficient floor plates, a modern design and convenient access to Interstate 605 and State Route 91. SCAN Health Plan will occupy the property.

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Gateway-Plaza-Gateway-Courtyard-Fairfield-CA
CaliforniaLoansRetailWestern

JLL Arranges $38M Refinancing for Two Retail Centers in Fairfield, California

by Amy Works

FAIRFIELD, CALIF. — JLL Capital Markets has arranged $38 million in refinancing for Gateway Plaza and a portion of Gateway Courtyard, two adjacent retail properties in Fairfield. Alex Olson and Danny Ryan of JLL represented the undisclosed borrower in the transaction. Anchored by Trader Joe’s, Gateway Plaza is fully leased to a mix of tenants including Ross Dress for Less, Michaels, Big 5 Sporting Goods and Petco. Gateway Courtyard is also fully occupied by tenants such as Panera Bread, Wingstop, Panda Express, T-Mobile, The Picklr and Nick the Greek.

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AcquisitionsCaliforniaRetailWestern

Fitness SF Acquires 38,900 SF Retail Property in San Francisco

by Amy Works

SAN FRANCISCO — Fitness SF has purchased a 38,900-square-foot retail property at 1600-1616 Jackson St. in San Francisco. Terms for the transaction were not released. The property consists of two floors and an underground garage with 72 parking spaces. Matthew Holmes of Retail West represented both parties in the transaction.

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CaliforniaLoansMixed-UseMultifamilyRestaurantRetailWestern

Northmarq Secures $54M Refinancing for Mixed-Use Property in Alameda, California

by Amy Works

ALAMEDA, CALIF. — Northmarq, on behalf of Alameda Point Redevelopers LLC, has arranged $54 million in financing for Storehouse Lofts, a residential mixed-use property located at 2350 Saratoga St. in Alameda. Storehouse Lofts is an adaptive reuse project that converted a former military warehouse into a modern 197-unit live-work community. Each unit is loft-style with open floor plans and high ceilings. Additionally, the 187,466-square-foot property features a gym, wellness center and roof deck, as well as a brewery and restaurant as commercial tenants. Dan Baker and Jason Szuminski of Northmarq secured the 10-year, fixed-rate loan through Northmarq’s correspondent relationship with Freddie Mac. The transaction refinances the original construction loan for the property, which is more than 95 percent leased.

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