SAN DIEGO — Location Matters has arranged the $1.9 million sale of a restaurant building located at 5351 Adobe Falls Road in San Diego. Davles LLC, an affiliate of Cohn Restaurant Group, acquired the 5,485-square-foot building, which was vacant at the time of sale. Mike Spilky of Location Matters arranged the transaction on behalf of the seller, L&L Acquisitions LLC. The building was constructed in the 1950s and originally housed Nicolosi’s Italian Restaurant. The former owners renovated the building and operated the Junk House Restaurant there for several years.
CANOGA PARK, CALIF. — Newmark Knight Frank (NKF) has arranged an 85,653-square-foot lease with Vallarta Supermarkets at a shopping center in Canoga Park. The grocer will backfill the space formerly occupied by Vons. Mark Baziak and Geoff Foley of NKF arranged the 20-year lease on behalf of the landlord, Auburndale Properties. Springstead Associates represented Vallarta. The grocer is expected to move into the 150,000-square-foot center later this year. Additional tenants include T-Mobile, McDonald’s and El Pollo Loco.
OAKLAND, CALIF. — Un[CO]mmon, a coworking space company, has launched a new location in Oakland. The flexible office solution for high-growth companies is located at 1750 Broadway. Un[CO]mmon was created by Rubicon in 2017. It is aimed at teams and companies wanting the flexibility of a coworking experience with the branding, privacy and scalability of a more traditional office environment. The 10,000-square-foot, flexible, full-floor space has direct access to the 19th Street BART station. The office features three conference rooms, two phone booths, an open kitchen stocked with food and coffee, common lounge areas, and social meeting spaces. The first Un[CO]mmon space launched in San Francisco and reached capacity soon after its grand opening was announced. The company’s third location will open in the mid-market neighborhood of San Francisco later this year.
SAN FRANCISCO — George Smith Partners has secured $45 million in bridge refinancing for the 131-room San Francisco Proper Hotel in the city’s Mid-Market neighborhood. The flatiron building is located at 1100 Market St. at the triangle of McAllister, Market and Seventh streets. The new bridge loan will allow the borrower, Kor Group, to focus on its operations and further establish the property as a luxury lifestyle hotel in San Francisco. The funds will replace an existing construction loan and mezzanine facility, providing cost savings and flexibility for Kor. Malcolm Davies, Evan Kinne, Zack Streit, Rachael Lewis, Alexander Rossinsky and Minjoo Kim of George Smith Partners arranged the financing.
SACRAMENTO, CALIF. — BKM Capital Partners has acquired Expo Centre, a 122,253-square-foot, multi-tenant industrial business park in downtown Sacramento for $10.1 million. The seven-building park is located alongside the SR-160 at 1761 to 1791 Tribute Road. Expo Centre is currently 81 percent leased with in-place rental rates that are about 18 percent below market value. BKM plans to implement a series of capital improvements to reposition the property. BKM acquired the property from a private syndication managed by Sperry Equities. Palmer Capital represented the seller in this transaction.
SAN JOSE, CALIF. — Pacific Retail Capital Partners (PRCP) has reopened Eastridge Center, a 1.4 million-square-foot mall in San Jose. The redevelopment of the property includes a full interior remodel, new family areas, a new look for the food court, vehicle charging stations, new entrances, community gathering spaces and four exterior murals by local artists. Eastridge Center is home to tenants such as Macy’s, JCPenney, Red Robin, a 15-screen AMC IMAX Theater, Round 1 Bowling & Amusements, H&M, Victoria’s Secret and Forever 21 RED.
HUNTINGTON BEACH, CALIF. — BJ’s Restaurants has extended the lease term on its corporate headquarters in Huntington Beach. The headquarters is located at One Pacific Plaza. Known as the “Restaurant Support Center,” BJ’s occupies 57,100 square feet of office space on multiple floors at the 12-story, Class A tower. PR One Pacific Plaza LLC owns the complex. Chon Kantikovit of Cushman & Wakefield represented BJ’s.
LOS ANGELES — L’Occitane en Provence, a prestige beauty brand based in Los Angeles, has introduced the L’Occi Truck, a traveling shop experience for the brand. The retail store on wheels presents a new direct-to-consumer shopping model. Inspired by the vintage French Citroën H Van, often used by small-town French farmers, the retro truck is cladded in L’Occitane’s signature Provençal sunshine yellow and is approximately 16 feet long by 7 feet high. Two openings, featured at the truck’s side spanning across the entire length and rear, invite customers to view an internal shelving display filled with an assortment of product as well as relevant campaign imagery. A tester-rail and foldable display counter anchored under the truck’s side opening will feature an interactive station for passerby to test-and-play with product.A large exterior screen will display video content showcasing the Provençal lifestyle and brand history. At each destination, beauty associates will accompany the truck to guide the guests through demonstrations. The truck debuted in Washington, D.C. at the Cherry Blossom Festival on April 7. The L’Occi Truck will offer support for future store closings due to renovations.
COSTA MESA, CALIF. — SRS Real Estate Partners has arranged the $2.4 million sale of a ground lease in the Orange County community of Costa Mesa. The 0.8-acre parcel of land currently houses a 13,200-square-foot property. The asset is triple-net leased to a Los Angeles-based entity that subleases the property to multiple tenants. Michael Walseth of SRS represented the undisclosed, Orange County-based seller in the transaction. The buyer, also based in Orange County, represented itself. The ground lease had approximately 14 years remaining.
RIVERSIDE, CALIF. — Marcus & Millichap has arranged the $1.3 million sale of a 13,200-square-foot retail property located at 9741 Magnolia Ave. in Riverside. Brandon Michaels of Marcus & Millichap arranged the transaction on behalf of both the seller, a limited liability company, as well as the buyer, 4GT Group LLC.