California

SAN DIEGO — CEG Capital Partners has acquired Shops at Madison Place, a retail property located at 5487-5597 Clairemont Mesa Blvd. in San Diego, from The Shops at Madison Place LLC for $23 million. At the time of sale, the 53,294-square-foot property was 93 percent leased to a variety of long-standing tenants, including Golf Bar, Victory MMA & Fitness, STP Bar and Grill and CosmoProf. Michael Peterson, Reg Kobzi and Rachel Parsons of CBRE represented the seller in the deal.

ELK GROVE, CALIF. — Hanley Investment Group Real Estate Advisors has directed the purchase of The Shops at Laguna Reserve, a fully leased, 33,308-square-foot retail center in Elk Grove. Los Angeles-based Bershon Realty Co. acquired the property from a Roseville, Calif.-based private investor for $19.2 million. Located at 10040-10064 Bruceville Road, The Shops at Laguna Reserve spans four parcels totaling 4.1 acres at the hard-corner, signalized intersection of Whitelock Parkway and Bruceville Road. The property’s six pad buildings were constructed in 2005, with the addition of Safeway in 2024. Current tenants include Starbucks Coffee, Pacific Dental, Bank of America, Round Table Pizza, a nail salon, dry cleaners, pet hospital, pet groomer and specialty food shops. Bill Asher and Jeremy McChesney of Hanley Investment Group represented the buyer, while Adam Rainey, Pat Ronan and Aman Bains of Gallelli Real Estate represented the seller in the deal. The sale included the fee-simple interest in the six buildings and underlying land. Safeway was not part of the transaction.