California

Hanley Investment Group Arranges $3.7M Sale of Starbucks-Occupied Retail Property in Santa Barbara

by Amy Works October 1, 2025

SANTA BARBARA, CALIF. — Hanley Investment Group Real Estate Advisors has arranged the sale of a single-tenant retail property located at 402 N. Milpas St. in Santa Barbara. A Los Angeles-based developer sold the asset to a San Francisco-based 1031 exchange investor for $3.7 million. Sean Cox and Bill Asher of Hanley Investment Group represented the seller, while the buyer was self-represented. The 2,149-square-foot Starbucks Coffee location, which opened in April, features the company’s new café-only prototype design.

October 1, 2025

Acquisitions California Retail Western

Progressive Real Estate Partners Brokers $1.9M Sale of Retail Building in Yucca Valley, California

by Amy Works October 1, 2025

YUCCA VALLEY, CALIF. — Progressive Real Estate Partners has arranged the sale of a multi-tenant retail building at 57990 29 Palms Highway in Yucca Valley. A Los Angeles County, Calif.-based private investor sold the asset to a Los Angeles County-based private investor for $1.9 million. Crazy Bargains, Luxury Nail Spa and No Limits Boutique are tenants at the 13,593-square-foot property. Lance Mordachini of Progressive Real Estate Partners represented the seller, while the buyer was self-represented in the transaction.

October 1, 2025

California Development Leasing Activity Mixed-Use Retail Western

Cain International Provides Updates on $10B One Beverly Hills Mixed-Use Project

by Kristin Harlow September 30, 2025

BEVERLY HILLS, CALIF. — Cain International has provided updates on One Beverly Hills, a 17.5-acre mixed-use project in metro Los Angeles that is valued at roughly $10 billion. Luxury fashion brand Dolce & Gabbana, as well as restaurants Casa Tua Cucina and Los Mochis, have been confirmed as three of the first tenants within the development’s 200,000-square-foot retail district, which is planned to ultimately feature 45 shopping and dining options. In addition, construction is underway on Aman Beverly Hills, which will consist of a 78-suite hotel, two residential towers, a private club and 10 acres of botanical gardens and open space. The latter element will connect The Beverly Hilton hotel, which is currently being renovated, and the Waldorf Astoria Beverly Hills hotel.

September 30, 2025

California Development Industrial Loans Western

JLL Secures $102.4M in Construction Financing for Otay Business Park Spec Project in San Diego

by Amy Works September 30, 2025

SAN DIEGO — JLL Capital Markets has arranged $102.4 million in construction financing for the first phase of Otay Business Park, a speculative Class A industrial development in San Diego’s Otay Mesa submarket. The borrower is a joint venture between Elevation Land Co. and a real estate fund advised by Crow Holdings Capital. Aldon Cole and Ben Choromanski of JLL Capital Markets arranged the three-year, floating-rate loan through New York Life Real Estate Investors for the borrower. Phase I of Otay Business Park will deliver 612,240 square feet spanning four freestanding warehouse and distribution buildings, ranging from 79,760 square feet to 233,880 square feet. The single-story, reinforced concrete tilt-up structures will feature 32-foot clear heights and be divisible into suites as small as 45,000 square feet. Upon full build-out, the 119-acre Otay Business Park will feature 1.8 million square feet of industrial space across nine buildings. Construction for Phase I is underway, with completion slated for mid-2026. The project is expected to reach stabilization by mid-2027.

September 30, 2025

Acquisitions California Industrial Western

MDH Partners Buys Four-Building Industrial Park in Ontario, California

by Amy Works September 30, 2025

ONTARIO, CALIF. — MDH Partners has purchased Ontario Commerce Park II, a four-building, 133,400-square-foot industrial asset situated within California Commerce Center in Ontario. James Hwang of MDH Partners served as acquisition lead and Michael Hefner of Voit Real Estate Services represented the undisclosed seller in the deal. Terms of the transaction were not released. Divisible to up to 19 individual units, Ontario Commerce Park II consists of two buildings at 720 and 780 S. Milliken Ave. totaling 31,448 square feet and featuring grade-level loading and 16-foot warehouse clearance; and two buildings, totaling 101,952 square feet, at 740 and 760 S. Milliken Ave. with 25- to 26-foot warehouse clearance, dock-high loading and grade-level ramps. At the time of sale, the buildings were fully leased to nine tenants.

September 30, 2025

Acquisitions California Loans Retail Western

BISON Partners, PCCP Receive $29M in Financing for Bernal Plaza Shopping Center in San Jose, California

by Amy Works September 30, 2025

SAN JOSE, CALIF. — A joint venture between BISON Partners and PCCP has received $29 million in acquisition financing for Bernal Plaza, an open-air retail center in San Jose. Alex Olson, Todd Sugimoto, Lauren Sackler and Danny Ryan of JLL Capital Markets secured the floating-rate acquisition loan through Forbright Bank for the borrower. The joint venture acquired the asset from a private seller, which had owned the property for 20 years, in an off-market transaction. Situated on 16 acres at 101-125 Bernal Road, Bernal Plaza offers 139,559 square feet of retail space that was 94 percent leased at the time of sale. Current tenants include Ross Dress for Less, McDonalds, Shell and a Tesla charging station.

September 30, 2025

Acquisitions California Restaurant Retail Western

Hanley Investment Group Arranges $2.7M Sale of Starbucks-Occupied Retail Property in Moreno Valley, California

by Amy Works September 29, 2025

MORENO VALLEY, CALIF. — Hanley Investment Group Real Estate Advisors has brokered the sale of a single-tenant retail property at 22350 Cactus Ave. in Moreno Valley. Glendale, Calif.-based Chase Partners sold the asset to an Orange County, Calif.-based private investor for $2.7 million, or $1,817 per square foot. Starbucks Coffee occupies the 1,500-square-foot property, which includes a drive-thru. Bill Asher and Jeff Lefko of Hanley Investment Group represented the seller, while David Kluver of Lee & Associates represented the buyer in the transaction.

September 29, 2025

California Development Loans Retail Western

JLL Secures $27M Construction Loan for Retail Project in Rocklin, California

by Amy Works September 26, 2025

ROCKLIN, CALIF. — JLL Capital Markets, on behalf of Blue Coast Capital, has arranged a $27 million construction loan for Whitney Ranch Retail Center, a to-be-built, 52,200-square-foot neighborhood retail center in the Whitney Ranch community of Rocklin. The three-year construction loan was secured with U.S. Bank. Slated for completion in 2026, Whitney Ranch Retail Center will include 35,000 square feet of inline and standalone retail, as well as five ground-leased pad sites totaling 17,200 square feet. The property will be shadow anchored by Nugget Markets, an upscale supermarket chain with 16 locations across Northern California.

September 26, 2025

Acquisitions California Multifamily Western

Legacy Partners, PGIM Acquire Student Housing Community in Azusa, California for $92M

by Amy Works September 25, 2025

AZUSA, CALIF. — A joint venture between Legacy Partners and PGIM has purchased University Village, a student housing property in Azusa, from Azusa Pacific University for $92 million. The community will be rebranded as Citrus Place Apartments and will be available for leasing by the end of September. Built in 1985, the property was previously used as student housing by Azusa Pacific University until the end of spring semester 2025. Located at 801 E. Alosta Ave., the 14-acre property consists of 20 two-story garden-style residential buildings offering a mix of 320 one- and two-bedroom apartments. Units include washers/dryers, kitchen appliances, dishwashers, central heating, air conditioning and individual hot water heaters. Community amenities include two outdoor swimming pools, a hot tub, a recreational room, two tennis courts, a basketball court and 600 parking spaces. In addition to the rebranding, Legacy Partners and PGIM plan to create a new leasing office and fitness center and make value-add improvements such as interior renovations, exterior paint and landscaping upgrades.

September 25, 2025

Acquisitions California Retail Western

Insomniac Entertainment Buys Avalon Theatre in Hollywood for $15.7M

by Amy Works September 25, 2025

LOS ANGELES — Insomniac Entertainment has acquired the Avalon Theatre in Los Angeles’ Hollywood submarket from Ligny LLC for $15.7 million. Located at 1735 Vine St., the two-story, 33,400-square-foot Avalon Theatre was built in 1927. Jason Lamoreaux of Coldwell Banker Commercial Real Estate Solutions represented the seller and buyer in the deal, which is the first time the property has traded hands in 50 years.

September 25, 2025

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