NORCO AND WESTMINSTER, CALIF. — Coldwell Banker Commercial Alliance has brokered the sales of two retail properties located in Norco and Westminster. In the first transaction, a private investor acquired a 2,474-square-foot Carl’s Jr. property with Vandermolen Center on Hamner Avenue in Norco. The single-tenant asset sold for $1.2 million. In the second deal, a private 1031 exchange buyer acquired single-tenant Taco Bell property at the intersection of Magnolia Street and Edinger Avenue in Westminster. The 760-square-foot asset, which sits on a 13,681-square-foot parcel, sold for $1 million. Daniel Tyner and Scott Hook of Coldwell Banker Commercial Alliance brokered the transactions.
PALMDALE, CALIF. — Rally Auto Group has acquired a vacant auto dealership located at 421 Auto Center Drive within Palmdale Auto Center in Palmdale. Charman 25 LLC sold the 26,000-square-foot asset for $2.2 million. The buyer plans to use the site for Rally Hyundai, a new Hyundai dealership slated to open third quarter 2016. Jodi Meade of Avison Young represented the seller and buyer in the transaction.
FREMONT, CALIF. — A private investor has purchased a 34,272-square-foot industrial building in Fremont for $5.2 million. The property is located at 48351 Lakeview Blvd., within the Bayside Business Park. The facility is situated near Tesla’s manufacturing plant. Rick Bland, Garrett Drew and Andrew Stoddard of Lee & Associates Oakland represented the seller, Cenco Investment LLC, in this transaction.
MADERA, CALIF. — Newmark Grubb Pearson Commercial has arranged the lease of 2,760 square feet of retail space at 1460 E. Yosemite Ave. in Madera. Mountain Mike’s Pizza Restaurant has inked a deal with Q/S Tozer Avenue LLC to occupy the space. Craig Holdener and Troy McKenney of Newmark Grubb Pearson Commercial and Jeanette Woerman Mason of Brekke Real Estate negotiated the transaction.
NAPA, CALIF. — BevMo! Has opened a new location at 3325 Jefferson St. in Napa. The beverage retailer will occupy 7,567 square feet of the Staples building along the Trancas Boulevard. Matt Alexander of SRS Real Estate Partners represented BevMo! in the lease transaction.
GARDENA, CALIF. — AutoZone, an auto parts retailer, has signed a 10-year lease for 7,000 square feet of end-cap retail space on Crenshaw Boulevard in Gardena. The location is located within a 26,000-square-foot community shopping center. Geoff Grossman and Aaron Guido of Centers Business Management represented the undisclosed landlord in the transaction.
SAN BERNARDINO, CALIF. — Hillwood has announced a new tenant has signed a 1.1 million-square-foot lease to fully occupy AllianceCalifornia Gateway South Building 3 in San Bernardino. The distribution building is located at 555 E. Orange Show Road. The new tenant has not been named. Gateway South Building 3 is currently the largest speculative building in Southern California, according to Hillwood. The building sits on 50 acres just north of Interstate 10. AllianceCalifornia is a 2,000-acre trade and logistics center. It is one of Hillwood’s largest developments to date, totaling more than 13 million square feet. The property has another 414,000 square feet under construction that should be delivered in the second quarter of 2016.
ELK GROVE, CALIF. — NRC Manufacturing is expanding its presence in Elk Grove by building a 230,000-square-foot manufacturing facility. This will be the electronic components prototype manufacturer’s second facility within the Sacramento submarket. The facility will eventually employ up to 2,500 manufacturing and management personnel for the Fremont-based company. Phase I is slated for completion by the end of 2017. NRC partnered with the Kamilos Cos. on this project. It will be the first major employer within the City of Elk Grove’s Southeast Policy Area, a 1,200-acre, master-planned area that includes more than 400 acres of fully entitled, development-ready corporate office and manufacturing land.
LOS ANGELES — Bonnis Properties has purchased the 147,346-square-foot Foreman & Clark Building in downtown Los Angeles for $52 million. The 13-story building is located at 404 W. 7th St. The space was originally built in 1929 as a Foreman & Clark department store. It most recently served as a jewelry mart, but was vacated in mid-2015 when the space was slated to transform into a boutique hotel. Bonnis plans to rehabilitate and restore the historic core property. Redevelopment details are in the early planning stages. Derrick Moore of Avison Young represented the buyer. CBRE’s Phillip Sample and Chris Caras represented the seller, Dr. Kyung Ku Cho, in this transaction.
SAN DIEGO — Norm Blumenthal has purchased a seven-unit apartment complex in the San Diego submarket of Pacific Beach for $2.3 million. The community is located at 835-41 Agate St. Gary Urtiaga of Apartment Realty Group and Dylan Wright of ACRE represented Blumenthal. Dennis Leslie of ACI represented the seller, Stevens Family Trust – care of Elizabeth Dunn, in this transaction.