LOS ANGELES — Quantum Capital Partners has arranged a $37 million interest-only loan to refinance The Shops at South Bay, a 200,000-square-foot shopping center in Los Angeles’ South Bay submarket. Built in 2005, the Walmart-anchored center is located at 19503 Normandie Ave. and W. 190th St. The Shops at South Bay is 96 percent leased to tenants including Lumber Liquidators, Dollar Tree, Quiznos, BJ’s Grill and Pho Kobe. Quantum’s Max Mellman and Jonathan Hakakha arranged the 10-year loan.
LOMPOC, CALIF. — Cushman & Wakefield has brokered the $19 million sale of Central Towne Square, a grocery-anchored shopping center in Lompoc, to a high-net-worth individual. Cushman & Wakefield’s Dixie Walker and Charley Simpson represented the seller, Los Angeles-based Jade Enterprises, in the transaction. Foods Co., a subsidiary of The Kroger Co., anchors the property. The center is 97 percent occupied by 15 tenants including O’Reilly Auto Parts, Wells Fargo, Payless ShoeSource, Sally Beauty, Applebee’s Bar & Grill, GameStop, and MetroPCS. Located at 511 through 633 W. Central Ave., Central Towne Square is located just west of Highway 1.
NEWPORT BEACH, CALIF. — Cress Capital has purchased the 300,000-square-foot Sandpointe office campus in Orange County. Sandpointe features two, eight-story office buildings situated on 8.2 acres less than one mile from John Wayne Airport. The seller was TA Realty.
COSTA MESA, CALIF. — Philip Voorhees of CBRE has arranged the $13.8 million sale of Newport 17th Plaza, a 28,450-square-foot retail center anchored by Chase Bank, Growers Direct and The Butchery in Costa Mesa. The property is located at 101, 103 and 105 E. 17th St. Voorhees represented the seller, WOHL/CM LLC, while Chase Associates LLC represented the buyer, Newport 17 LLC.
OCEANSIDE, CALIF. — Hanley Investment Group Real Estate Advisors has arranged the $7.4 million sale of a single-tenant Walgreens property located roughly 38 miles outside San Diego in Oceanside. The 14,380-square-foot, freestanding building is occupied under an absolute net lease. Kevin Fryman and Ed Hanley of Hanley Investment Group represented the seller, a Beverly Hills-based private investor. Jason Flashman/Flashman Investment Group of Peak Commercial represented the buyer, a private investor from Northridge.
LOS ANGELES — Shapell Liberty Investment Properties has broken ground on The Vineyards at Porter Ranch, a $150 million mixed-use project in Los Angeles’ Porter Ranch neighborhood. In addition to restaurants and shops, the 345,000-square-foot development will include a movie theater, Whole Foods Market, Kaiser-Permanente medical office building, hotel and 266-unit luxury apartment complex. The project is a joint venture between Shapell Properties Inc. and Liberty Building Co. The Vineyards is being developed on the north and south sides of Rinaldi Street at the western intersection of Porter Ranch Drive. The design includes a main street and central green area that will host community events. Other features include a 4,000-square-foot community meeting room, solar panels on rooftops to help supply power to the complex, a rainwater capture and irrigation recycling system, and electric car charging stations. “The Vineyards will be a sophisticated, pedestrian-oriented retail experience that not only will serve as a central gathering spot for Porter Ranch residents, but also as the prime choice for higher-end shops and restaurants serving this entire region,” says John Love, vice president of Shapell Properties. Completion of the main shopping center is expected in late 2018. Additional phases, including the hotel and apartment community, are …
SAN DIEGO — A joint venture between Citivest Commercial Investments LLC and Hutensky Capital Partners has acquired a freestanding AMC Theatres complex in San Diego for $36 million. The property is located within Palm Promenade Shopping Center, which is home to tenants including Walmart, The Home Depot and Vons. The acquisition also included available development rights. Plans for additional development have yet to be announced.
SAN DIEGO — Sorrento West Properties has purchased a 117,354-square-foot industrial building in the San Diego submarket of Poway for $20 million. The property is located at 14145 Danielson St. It is situated on 7.2 acres. Sorrento West represented itself, while Mickey Morera and James Duncan represented the seller in this off-market transaction.
FORT COLLINS, COLO. — Cress Capital has purchased a 500,000-square-foot office and flex industrial portfolio in Fort Collins. The property is known as the Prospect Portfolio. It was built between 1984 and 2004. Prospect Portfolio is situated near the intersection of Prospect and Timberline, one mile west of I-25.
STOCKTON, CALIF. — Westcore Properties has purchased a 277,500-square-foot industrial property in Stockton for $14.4 million. The property is one mile west of I-5. It can accommodate mid-sized users seeking 25,000 to 75,000 square feet of space. Mike Goldstein of Colliers International represented both the buyer and unnamed seller in this transaction.
