California

Eight Stores to Open at Danville Hotel Redevelopment

by Nellie Day August 26, 2015

DANVILLE, CALIF. —Eight stores are set to open at a mixed-use redevelopment of the historic Danville Hotel in downtown Danville, a project by joint developers Castle Cos. and Nearon Enterprises. Retail tenants will receive space in late August through September. New openings will include a 1,200-square-foot Papyrus; a 2,000-square-foot Heavenly Couture; a 1,100-square-foot Sole Desire Shoes; a 1,000-square-foot Look + See Luxury Optical; a 400-square-foot BoBen Designs jeweler; a 3,700-square-foot Danville Brewing Co.; a 2,800-square-foot Pizza Antica; and a 1,600-square-foot Basque Boulangerie Café. Adria Giacomelli and Gary Riele of Newmark Cornish & Carey led the leasing efforts.

August 26, 2015

California Office Western

Tony Morales to Head Up JLL’s LA-Area Brokerage Houses

by Nellie Day August 26, 2015

LOS ANGELES — JLL has named Tony Morales as brokerage lead in the Los Angeles region. This area contains about 80 brokers across six offices. Morales’ expanded role will allow him to set the strategic direction for the Los Angeles-area brokerage business and oversee these offices. Morales, a 25-year commercial real estate veteran, will also continue in his role as JLL Los Angeles’ managing director, where he specializes in office properties. Prior to JLL, Morales worked with several high-profile companies, including Yahoo!, DIRECTV, Boston Consulting Group, Electronic Arts, William Morris Endeavor and Morrison & Foerster.

August 26, 2015

California Retail Western

DTZ Arranges $32.5M Sale of Jackson Square in California

by Nellie Day August 25, 2015

HAYWARD, CALIF. — DTZ has arranged the $32.5 million sale of Jackson Square, a 114,220-square-foot retail center located in Hayward in the San Francisco Bay area. ROIC California LLC, a subsidiary of Retail Opportunity Investments Corp., acquired the center. Dan Wald, Eric Kathrein and Justin Sharp of DTZ represented the seller, Terramar Retail Centers LLC, in the transaction. Safeway, CVS/pharmacy and 24 Hour Fitness anchor the center, with a tenant roster including Starbucks Coffee, Chase Bank, Round Table Pizza and Patelco Credit Union.

August 25, 2015

California Retail Western

La Costa Towne Center to Undergo $15M Renovation and Renaming

by Nellie Day August 25, 2015

CARLSBAD, CALIF. — Linwood Ventures’ La Costa Towne Center, a 123,000-square-foot shopping center located in Carlsbad, is undergoing a $15 million renovation and will be renamed The Beacon La Costa. Beginning in fall, changes will include a complete renovation of the anchor building, façade enhancements and upgrades to the project’s parking and common areas including new parklets and outdoor dining terraces. Equinox will occupy the 31,000-square-foot anchor space once occupied by Vons grocery store.

August 25, 2015

California Retail Western

Sycamore Terrace Shopping Center in San Diego Changes Hands

by Nellie Day August 25, 2015

SAN DIEGO — U.S. Property Trust has acquired Sycamore Terrace, a 10,578-square-foot shopping center in the San Diego submarket of Vista, for an undisclosed sum. The center is located at 320 Sycamore Ave. It is anchored by Target. Other notable tenants at Sycamore Terrace include Panda Express, Sprint, Pacific Dental and the U.S. Army, among others. CBRE brokered the sale.

August 25, 2015

California Retail Western

Marcus & Millichap Arranges $14.8M Sale of National City Plaza

by Nellie Day August 25, 2015

NATIONAL CITY, CALIF. — Marcus & Millichap has arranged the $14.87 million sale of National City Plaza, an 84,230-square-foot, grocery-anchored center located in National City just south of San Diego. Matt LoPiccolo of Marcus & Millichap represented the seller and procured the buyer in the transaction. Tenants include Diego Valley Public Charter, Dollar Tree and Wrigley’s Supermarket.

August 25, 2015

California Retail Western

Faris Lee Investments Arranges $13M Sale of Tyler Village

by Nellie Day August 24, 2015

RIVERSIDE, CALIF. — Faris Lee Investments has arranged the $13 million sale of Tyler Village, a 91,498-square-foot neighborhood retail center located in Riverside. Donald MacLellan and Chris Tramontano of Faris Lee represented the seller, a private investor from Northern California, as well as the buyer, a private investment partnership from Southern California, in the transaction. The center was 78 percent occupied at the time of sale.

August 24, 2015

California Multifamily Student Housing Western

Cal Poly Pomona to Build On-Campus Housing for 800 to 1,000 Students

by Nellie Day August 24, 2015

POMONA, CALIF. — Administrators at Cal Poly Pomona announced this week that it will use 13 acres of campus horse pasture to build on-campus student housing for 800 to 1,000 students. The site chosen, located on the southeast corner of Kellogg Drive and Eucalyptus Lane, was one of 10 sites originally considered for the project. Financing for the project will come by issuing bonds, which will be paid back by student fees. Details such as the cost, as well as the selection of the architecture and construction company, have not yet been announced. According to a local report, approximately 400 students are on a waiting list seeking housing for the upcoming school year that starts Sept. 24. The past two semesters 700 students seeking campus housing were rejected. A new dining hall will accompany the new residence halls. Work on the housing is expected to begin in 2017.

August 24, 2015

California Multifamily Seniors Housing Western

LTC Completes $142M 10-Community Seniors Housing Acquisition

by Nellie Day August 21, 2015

WESTLAKE VILLAGE, CALIF. — LTC Properties Inc. (NYSE:LTC), a seniors housing and healthcare real estate investment trust based in Westlake Village, has completed the previously announced acquisition of a 10-property portfolio for $142 million. The properties provide 891 units of independent living, assisted living and memory care services. Nine of the properties are located in Wisconsin and one is located in Illinois. Specific names and locations were not disclosed. LTC entered into a triple-net master lease agreement with an affiliate of Senior Lifestyle Corporation, which will operate the communities. Blueprint Healthcare Real Estate, led by Ben Firestone, brokered the deal on behalf of the undisclosed seller. The purchase was funded by the LTC’s revolving credit facility. LTC’s stock closed at $43.90 on Wednesday, Aug. 19, up from $40.03 a year prior.

August 21, 2015

California Retail Western

ROIC California LLC Acquires Jackson Square Shopping in Hayward for $32.5M

by Nellie Day August 21, 2015

HAYWARD, CALIF. — ROIC California LLC, a subsidiary of Retail Opportunity Investments Corp., has acquired Jackson Square, located at the southwest corner of West Jackson Street and Amador Street in Hayward. Terramar Retail Centers LLC sold the property for $32.5 million. The fully occupied, 114,220-square-foot retail center is anchored by Safeway, CVS and 24 Hour Fitness. Additional in-line tenants include Starbucks Coffee, Chase Bank, Round Table Pizza and Patelco Credit Union. Dan Wald, Eric Kathrein and Justin Sharp of DTZ represented the seller in the transaction.

August 21, 2015

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