MODESTO, CALIF. — Pactra USA has leased 184,350 square feet at Tracy Pescadero Distribution Center, just west of Modesto. The center is located at 1700 E. Pescadero Ave. The transaction brings the building to 100 percent occupancy. The building features 57 dock-high doors, 32-foot clear heights and a easy access to major transportation arterials including Interstate 205, Interstate 5, Interstate 580 and Highway 99. Cushman & Wakefield represented the 3PL service provider. CBRE represented the landlord, Ridgeline Property Group and LaSalle Investment Management, in this transaction.
SAN FRANCISCO — NKF Capital Markets has arranged the sale of Diamond Heights Shopping Center, a 75,630-square-foot retail center in San Francisco. Nicholas Bicardo, Brandon Rogoff and Bryce Holman of NKF Capital Markets arranged the transaction on behalf of the private seller. Donahue Schriber acquired the asset for an undisclosed price. Safeway anchors the center, which is also home to Walgreens, Bank of America and the United States Postal Service.
WESTWOOD VILLAGE, CALIF. — Kennedy Wilson has brokered the a $2.7 million retail lease for The Waffle, located at 10925 Weyburn Ave. in Westwood Village. Owned by Gain Polone and John Papsidera, the restaurant is moving into the space formerly occupied by Jerry’s Deli. The modern casual restaurant offers breakfast and lunch options. Christine Deschaine of Kennedy Wilson represented the landlord, Tucker Investment Group, while Newmark Knight Frank represented the restaurant.
SANTA ROSA AND NOVATO, CALIF. — Cushman & Wakefield has arranged the sales of two shopping centers in Northern California for a combined value of $47 million. Dan Wald and Don LeBuhn of Cushman & Wakefield arranged the sale of a 49,990-square-foot shopping center in Santa Rosa on behalf of the seller, SPI Holdings. T.J. Maxx and Staples anchor the center. Terry Daly of Cushman & Wakefield arranged acquisition financing for the property on behalf of the buyer, a private capital partnership, who acquired the asset through a 1031 exchange. In the second transaction, Wald and LeBuhn arranged the sale of Pacheco Plaza Shopping Center, a 66,619-square-foot retail center in Novato, on behalf of the seller and original developer. The buyer was not disclosed. Nugget Market anchors Pacheco Plaza Shopping Center, which was 92 percent leased at the time of sale to Chase Bank and 20 other retail and restaurant tenants.
WHITTIER, CALIF. — CBRE has arranged the $40 million sale of Friendly Hills Marketplace, an 89,826-square-foot shopping center in Whittier, located 20 miles southeast of Los Angeles. Philip Voorhees, Kirk Brummer, James Tyrrell, Megan Wood, Preston Fetrow and Jim Leary of CBRE arranged the transaction on behalf of the seller and property developer, Oppidan Inc. Golden Capital Whittier LLC acquired the asset. Bruce Francis and Shaun Moothart of CBRE arranged acquisition financing on behalf of the buyer. Constructed in 2017, Friendly Hills Marketplace is fully leased to tenants including Orchard Supply Hardware, HomeGoods, ULTA Beauty and Sketchers.
ALBANY AND FOLSOM, CALIF. — ValueRock Realty Partners has purchased two retail properties in Albany and Folsom. The company acquired University Village at 1075-1095 Monroe St. in Albany for $19.2 million and Sprouts Farmers Market at 90 S.E. Bidwell St. in Folsom for $9.2 million. Twin Cities-based Oppidan sold the properties. University Village is occupied by Sprouts Farmers Market, Pet Food Express, Starbucks Coffee, Banfield Pet Hospital and The Habit Burger. Located in Folsom, the Sprouts Farmers Market was recently converted into a Sprouts from an Orchard Supply Hardware.
LAKE FOREST, CALIF. — Baker Ranch Investment LLC acquired Baker Ranch Center, a retail center located at 20491 Alton Parkway in Lake Forest, for $4.8 million. The 6,000-square-foot property is 100 percent triple-net leased to four tenants, including Tenko Sushi & Teriyaki, Ameci Pizza, Sage Nail Lounge and Sheesh Lebanese Kitchen. Patrick Toomey, Thomas Chichester, Joseph Chichester and Matt Brooks of Faris Lee represented the seller, Shea/Baker Ranch, while John Carpenter from The 949 Group represented the buyer in the deal.
CALABASAS, CALIF. — Marcus & Millichap has hired Scott Holmes as senior vice president and national director of its retail division. The industry veteran will be responsible for directing the firm’s retail business strategy nationwide. Most recently, Holmes served as senior vice president at Cole Real Estate Investments Inc., where he was responsible for leading the company’s shopping center acquisitions team, overseeing national investment activities and sourcing acquisitions nationally. Holmes has held leadership roles at AEW Capital Management LP and American Realty Advisors. Over the course of his career, he has closed more than $6 billion in commercial real estate transactions.
FULLERTON, CALIF. — Engineered Floors has renewed its lease for 127,375 square feet of industrial space at Fullerton Industrial Park. The Class B facility is located at 675-679 S. Placentia Ave. in Fullerton. Engineered Floors and CJ Foods, which renewed its lease this past November, occupy the 254,750-square-foot building. Sam Chanin of Transwestern represented the landlord, Bailard, in this transaction. Bill Blackwood of Coldwell Banker Kinard Realty represented Engineered Floors.
ARCADIA, CALIF. — Positive Investments has acquired Towne Centre Office Building, an 83,250-square-foot office building in Arcadia, for $25.6 million. The eight-story building is located at 150 N. Santa Anita Ave. The asset is 97 percent leased. Bank of America anchors the property, which was built in 1972. Mark Evanoff and Andrew Berk of Avison Young represented the seller, a San Francisco-based family trust, in this transaction. The buyer represented itself.