VICTORVILLE, CALIF. — Marcus & Millichap has arranged the sale of Bear Valley Road Center, a retail property located at 15610 Bear Valley Road in Victorville. The 9,998-square-foot property sold for $1.6 million. Constructed in 2007, the property comprises two buildings on separate parcels totaling 1.2 acres and 58 parking spaces. Kevin Le and Chuck Shillington of Marcus & Millichap’s Ontario, Calif., office represented the seller, a private investor, in the transaction.
SAN DIEGO — Dickey’s Barbecue Pit recently signed a 12-store development agreement with owner/operator Michael Tucker. Already the owner of the La Quinta Dickey’s location, Tucker’s agreement originally contained four stores, which are slated to open in Indio, Moreno Valley and Redlands, Calif. The new agreement adds eight stores to the existing deal. Tucker has extended the agreement with the barbecue brand to encompass the northern part of San Diego County, starting in Mira Mesa and extending north. He will also open a new location as far south as National City. Dickey’s Barbecue Pit now has more than 100 stores in California. The new stores will all be opened using Dickey’s new store model, complete with sustainable elements such as reclaimed wood throughout the dining room.
LOS ANGELES — California Realty Group has arranged the lease of 6,756 square feet of retail space at 5100 Wilshire Blvd. in the Hancock Park neighborhood of Los Angeles. Automobile Club of Southern California signed a 10-year deal for the space located within The Mansfield mixed-use project. The new location is slated to open in third quarter 2017. Keith Kleinman and Mark Esses of California Realty Group represented the tenant, while Tim Bower and Gabrielle Lardiere of CBRE represented the undisclosed landlord in the transaction.
SAN DIEGO — The Richman Group has received joint venture equity for its $100 million, 221-unit residential tower project in the downtown San Diego submarket of East Village. The newly approved project will be located at its namesake, 330 Thirteenth. The Class A+ building, also known as Library Tower, will stand 23 stories tall. It is scheduled for completion in 2018. The project is situated adjacent to the new $184 million San Diego Central Library. It will also feature 7,521 square feet of ground-floor retail and six floors of subterranean and above-ground parking. DesignARC and Rob Wellington Quigley are designing the building. HFF’s Aldon Cole, Tim Wright and Hunter Combs arranged the joint venture equity partnership with American Realty Advisors.
CHINO, CALIF. — Hanley Investment Group Real Estate Advisors is marketing Stater Bros. Plaza in Chino for $35 million. Located at 6939, 6989 and 7011 Schaefer Ave., the property is 95 percent occupied. Situated on 7.5 acres, a 44,000-square-foot Stater Bros anchors the 73,600-square-foot retail center. Ed Hanley and Bill Asher of Hanley Investment Group are marketing the property on behalf of the undisclosed seller.
PLEASANTON, CALIF. — Peet’s Coffee & Tea has inked a deal for 1,400 square feet of retail space at 349 Main St., Suite 110, in Pleasanton. The company will use the space to serve coffee, tea and baked goods. Craig Semmelmeyer of Main Street Property Services Inc. represented the landlord, Main Street Pleasanton LLC, while Andrew Lindsey of SRS Real Estate Partners represented the tenant in the transaction.
WEST HOLLYWOOD, CALIF. — BRC Advisors has brokered a 10-year, five-month lease for 1,584 square feet of restaurant space at a newly developed mixed-use building at 7141 Santa Monica Blvd. in West Hollywood. Yummy.com will occupy the space, which is located at Domain, a residential and retail development. Shane Murphy and Evan Weiss of BRC Advisors represented the tenant and landlord, Domain Wello, in the $3.8 million lease transaction.
MADERA, HANFORD AND FARMERSVILLE, CALIF. — Retail California, a division of Pearson Realty, has brokered three retail leases totaling 12,400 square feet. In Madera, Total PCS Solutions Inc. leased 900 square feet of space at 422 S. Gateway from Mark Knox. Nick Frechou of Retail California arranged the deal. In Hanford, EECU signed a deal for 1,000 square feet of retail space at Fargo Crossing Shopping Center from Blackheart Capital LLC. John Lee and Mike Kennedy of Retail California represented the landlord, while Troy McKenney of Newmark Grubb Pearson Commercial represented the tenant in the transaction. In Farmersville, Rite Aid signed a deal for 10,500 square feet of space at the corner of Farmersville Boulevard and Walnut Avenue from Halferty Development Co. Lewis Smith and John Lee of Retail California brokered the transaction.
SAN RAFAEL, CALIF. — Cushman & Wakefield’s Mortgage Services has closed a $46 million refinancing for Montecito Plaza in San Rafael. Located at Third and Grand streets, the shopping center is occupied by Trader Joe’s, Petco, Pier 1 Imports and Rite Aid, among others. Kurt Scheidt and Terry Daly of Cushman & Wakefield arranged the 10-year loan for the borrower, longtime owner/developer Seagate Properties.
LOS ANGELES — 365 by Whole Foods Market is opening its first location on May 25 in the Silver Lake neighborhood of Los Angeles. The location will feature selections from Whole Foods Market’s 365 Everyday Value brand, as well as local and branded products. Additionally, the new store will host several “Friends of 365” offerings through partnerships with by CHLOE., Allegro Coffee Co. and teaBOT, a retail platform that provides custom grab-and-go tea in under 30 seconds. 365 by Whole Foods has also partnered with Loomstate to custom design employee apparel for the stores. Two additional 365 by Whole Foods Market locations will open in 2016 — in Bellevue, Wash., and Portland, Ore. — and up to 10 stores are expected to open in 2017.