REDDING, CALIF. — Marcus & Millichap has arranged the $13.6 million sale of a 94,418-square-foot Shopko located in Redding. The property is located at 55 Lake Blvd., less than a half-mile from Interstate 5. Glen Kunofsky and Mike James of Marcus & Millichap represented the undisclosed seller in the transaction.
LOS ANGELES — High Street Residential, in partnership with Principal Real Estate Investors and the Cesar Chavez Foundation, has broken ground on LA Plaza Village, a 425,000-square-foot mixed-use project in downtown Los Angeles. The development will feature 355 multifamily units and 43,700 square feet of retail across four buildings, ranging from five to seven stories. The multifamily portion of the property will feature one-, two- and three-bedroom units, 20 percent of which will be affordable housing. The development will also feature 720 parking spaces, and a “historic paseo” that will link LA Plaza Village to Olvera Street and Union Station through a landscaped walkway which features signage describing the history of the area. The project — which is seeking LEED Certification — is scheduled for completion in 2018. Johnson Fain is the architect for the project and Benchmark Contractors Inc. is the general contractor.
UPLAND, CALIF. — Faris Lee Investments has arranged the sale of a single-tenant retail property located at 685 W. Foothill Blvd. in Upland. Sunrz Holdings acquired the 33,350-square-foot property from Mission Plaza Properties for $6 million, or $180 per square foot. The freestanding building is occupied by 24 Hour Fitness. Jeff Conover of Faris Lee represented the seller in the deal.
CORONADO, CALIF. — Cushman & Wakefield has arranged the sale of a multi-tenant retail property located at 820-826 Orange Ave. in Coronado. 820 Orange Ave LLC acquired the 12,801-square-foot property from The Siegel Trusts for $5.2 million. Built in 1952, the property is anchored by Coronado Village Theaters. Andrew Peterson of Cushman & Wakefield represented the seller and buyer in the transaction.
LOS ANGELES — NAI Capital has arranged the sale of a retail property located at 2128-2152 W. Washington Blvd. in Los Angeles’ West Adams Heights neighborhood. Washington-Western LLC sold the 22,400-square-foot property for $6.6 million, or $268 per square foot. Built in 1924, the property was delivered vacant to the undisclosed buyer as a condition of the sale. Parham Khoshbakhtian of NAI Capital represented the seller in the deal.
SAN FRANCISCO — An undisclosed buyer has acquired a three-tenant retail property located at 1720-1790 Fulton St. in San Francisco for $4.6 million. Constructed in 2004, Chase Bank, Glow Spa and Great Clips occupy the property. Erich Reichenbach of Marcus & Millichap represented the seller, a private investor, and the buyer in the transaction.
ELK GROVE, FRESNO AND KINGSBURG, CALIF. — Retail California has arranged three leases for retail space in Elk Grove, Fresno and Kingsburg totaling 6,858 square feet. In the first deal, Ritas Italian Ice leased 1,200 square feet of space at 8519 Bond Road in Elk Grove from JJD-HOV Elk Grove LLC. Rachael Orlando and Peter Orlando of Retail California, along with Scott Caruth of CBRE, brokered the transaction. In the second deal, Gurpreet and Pawandeep Singh leased 3,000 square feet of retail space at 8020 N. Cedar Ave. in Fresno from J&V Fresno. Nick Frechou and John Lee of Retail California, along with Mike Mele of Commercial West Associates, arranged the transaction. In the third deal, Jose Robles leased 2,658 square feet of retail space at 1881 Sixth Ave. in Kingsburg from Barletta Hansen for an undisclosed price. Frechou and Lee represented the landlord, while Mark Henry of Colliers International represented the tenant in the deal.
LOS ANGELES — National Storage Affiliates has purchased a 22-property self-storage portfolio in Southern California for an undisclosed sum. The properties are situated throughout Anaheim, Riverside, Apple Valley, South Gate, Harbor City, Grand Terrace, Palmdale, Victorville, Rosamond and San Diego. The transaction also includes seven facilities in Bakersfield and one in Fresno. The portfolio has a combined occupancy of approximately 92 percent. The facilities contain a total of 1.6 million square feet. CBRE’s Nicholas Walker represented both the buyer and seller, CPA: 17-Global, in this transaction. Extra Space Storage manages the portfolio.
HUNTINGTON BEACH, CALIF. — TIAA Global Asset Management’s real estate division and DJM Capital Partners have formed a joint venture to own and manage Pacific City Shopping Center in Huntington Beach. TIAA has acquired a 70 percent stake in the 190,900-square-foot property, which DJM developed in 2015. An affiliate of DJM Capital Partners retains the remaining 30 percent stake. DJM Capital Partner’s prior partner, a private investor, sold its interest to TIAA for an undisclosed sum. Eastdil Secured advised DJM Capital Partners in the transaction. Pacific City is occupied by a variety of tenants, including Equinox, H&M, Free People, Sephora, MAC Cosmetics, Brent Bolthouse’s Bungalow, Bluegold, Ola Mexican Kitchen, St. Marc and Ways & Means Oyster House.
PETALUMA, CALIF. — CareTrust REIT Inc. has acquired The Oaks, a 59-bed skilled nursing facility in the San Francisco suburb of Petaluma, for $6.9 million. CareTrust immediately leased the facility to West Harbor Healthcare upon purchase. The REIT expects an initial annual revenue of approximately $700,000 under the new lease, which has a 15-year term, two five-year renewal options and CPI-based rent escalators. CareTrust is a publicly traded REIT based in California. The company currently owns 145 net-leased healthcare properties in 20 states.
