California

SAN FRANCISCO — Faris Lee Investments has arranged the sale of a freestanding retail property located at 1900 19th Ave. in San Francisco. Guilfoyl-Greenspan Trust sold the single-tenant property to First and Mission Properties for $16.8 million in a 1031 exchange. CVS/pharmacy will occupy the 17,920-square-foot building, which is undergoing a major renovation. Jeff Conover and Thomas Chichester of Faris Lee represented the seller, while Dan Lem of LemRx Realty Advisors represented the buyer in the deal.

RIVERSIDE, CALIF. — Progressive Real Estate Partners has brokered the sale of a retail building located at 10000 Magnolia Ave. in Riverside. A San Bernardino-based private investor sold the property to a Laguna Beach-based development firm for $3.2 million. A portion of the 22,000-square-foot building is being renovated for the new tenant, the Social Security Administration, which is slated to open in 2018. Greg Bedell and Pablo Velasco of Progressive Real Estate represented the buyer and seller in the transaction.

LOS ANGELES — OnlyRoses, a specialty rose gift brand, will open its first U.S. retail location and second non-franchise store in the Los Angeles submarket of Beverly Hills. The Beverly Hills location will be the company’s second non-franchise boutique in the world and home base in the U.S. for nationwide shipments, which will come from the company’s new warehouse in Hollywood. Italian architecture firm Baciocchi Associati designed the store. Roses are ethically sourced directly from farms in the Andes mountains near Quito, Ecuador. Originally founded by husband-and-wife team Anian and Sabine Schmitt in 2007, the original London-based OnlyRoses store is located in London’s Knightsbridge neighborhood on the block adjacent to Harrod’s. In the last decade, the business has expanded with franchise locations in Dubai, Abu Dhabi, Doha, Riyadh and Kuwait City.

FAIR OAKS, CALIF. — NewMark Merrill Cos. has acquired Madison Marketplace, a 258,981-square-foot retail center in Fair Oaks, located 18 miles east of Sacramento. Raley’s Supermarket and TJ Maxx anchor the center, which was 93 percent leased at the time of sale to tenants including Petco, Dollar Tree, O’Reilly Auto Parts, Chipotle Mexican Grill, GameStop, Leslie Pool Supplies, McDonalds and Starbucks Coffee. Sandy Sigal, Jim Patton, Brad Pearl, Sandra Kist and Susan Rorison of NewMark Merrill represented the company internally in the transaction. Roman Benvenuti and Bill Palmer of Palmer Capital Inc. represented the seller, TA Realty. The price was not disclosed. Kostas Kavayiotidis of Pacific Southwest Realty Services arranged a 10-year, fixed-rate loan through John Hancock Insurance on behalf of NewMark Merrill.