California

SIGNAL HILL, CALIF. — Tova Capital has purchased East Willow Village, an inline shop and pad space in Signal Hill, for $6.7 million in an off-market transaction. Signal Hill is approximately 20 miles south of Los Angeles. Located at 2201 E. Willow St., East Willow Village features 18,600 square feet of retail space. Turner’s Outdoorsman anchors the center on a 5,600-square-foot pad. Additional tenants include food, health, wellness and community-serving retail users. Kelly Hawkshaw, Luc Hawkshaw and Eric Mandell of Ally Commercial Real Estate represented Tova Capital in the deal. The seller was not disclosed.

RICHMOND, CALIF. — Primestor Development has acquired Hilltop Plaza, a 245,921-square-foot retail center situated on 59 acres in Richmond, roughly 18 miles outside San Francisco. An undisclosed seller sold the property for $36.5 million. Tenants at the center, which was 88 percent occupied at the time of sale, include Ross Dress for Less, City Sports Club, dd’s Discounts and Century Theatres. Geoff Tranchina, Eric Kathrein, Gleb Lvovich and Warren McClean of JLL represented both the buyer and seller in the transaction. 

SANTA MONICA, CALIF. — Kennedy Wilson Brokerage, a division of Kennedy-Wilson Properties Ltd., has arranged the sale of a retail property at 2031-2037 Wilshire Blvd. in Santa Monica. Auerbach Realty Holdings sold the asset to Cypress Equity Investments for $7 million, or $2,222 per square foot. Situated on a 6,970-square-foot parcel, the shopping center offers 3,149 square feet of retail space. CEI owns the adjacent properties at 2025 Wilshire Blvd. and 1152 21st St., and this purchase will create a 25,457-square-foot assemblage. As part of the sale process, and in anticipation of the parcel’s imminent redevelopment, the Kennedy Wilson Brokerage team also assisted in the future relocation of Noma Sushi, a neighborhood restaurant that opened at the property in 1982. Ed Sachse and Christine Deschaine of Kennedy Wilson Brokerage represented the seller in the off-market transaction.

ESCONDIDO, CALIF. — Cavalier Investments, a Colorado-based investor, has completed the disposition of Citrus Strip Center, a retail property in Escondido, approximately 35 miles north of San Diego. Eiad and Vera H Family Trust acquired the asset for $6.2 million. Located at 2315-41 E. Valley Parkway, the 27,310-square-foot retail center features 16 suites and two kiosks that are occupied by restaurants, professional services, beauty and fitness retailers, and a laundromat. Nick Totah of Marcus & Millichap’s San Diego Del Mar office represented the seller and procured the buyer in the deal.