Western

Eight New Retailers to Open at Perris Marketplace

by Nellie Day May 11, 2016

PERRIS, CALIF. — Eight new retailers are set to open at Perris Marketplace, a Super Walmart-anchored shopping center located in the Los Angeles suburb of Perris. New openings will include a 2,000-square-foot Chipotle Mexican Grill; a 3,000-square-foot Pacific Dental; a 2,300-square-foot Pieology; a 2,500-square-foot freestanding Popeye’s with a drive-thru; a 1,600-square-foot T-Mobile; a 1,600-square-foot Verizon; a 1,500-square-foot Waba Grill; and a 1,135-square-foot Yogurtland. Paul Galmarini of Progressive Real Estate Partners represented the developers and owners of the center, Evergreen and Trachman Indevco, in the transactions. The freestanding drive-thru pad and the two buildings that will be home to the new stores are scheduled for groundbreaking in early summer 2016, with all eight retailers projected to open in late 2016 and early 2017.

May 11, 2016

California Restaurant Retail Western

MoMo’s American Bar & Grill to Open Second Location in Metro San Francisco

by Nellie Day May 11, 2016

WALNUT CREEK, CALIF. — MoMo’s American Bar & Grill, an AT&T Park-adjacent restaurant, is opening a second location in Walnut Creek, roughly 25 miles outside of San Francisco. The bar and eatery will occupy a 6,528-square-foot retail space at 1444 N. California Blvd. Jeffrey Hook of Savills Studley represented MoMo’s, and John Sechser of Transwestern represented the landlord, Nearon Enterprises, in the transaction. The restaurant signed a 15-year lease with two extension options, and plans to open in the fourth quarter of this year. This will be the fifth restaurant owned by The Golden Bear Restaurant Group, founded in 1991 by Peter Osborne and his wife, Janet. The original MoMo’s opened in 1998 and was named in memory of Osborne’s grandmother and mentor, whom he affectionately called MoMo.

May 11, 2016

California Office Western

J+R Group Purchases Office Building in Irvine for $66M

by Nellie Day May 10, 2016

IRVINE, CALIF. — J+R Group has purchased a 191,849-square-foot office building in Irvine for $66 million. The Class A building is located at 1901 Main St. The building is fully leased to three tenants. It was built in 2001, immediately adjacent to John Wayne Airport and Interstate 405. JLL’s Joe Bevan represented J+R Group, and the firm was retained to handle the building’s property management as well. Jeff Cole and Ed Hernandez of Cushman & Wakefield represented the seller, Piedmont Office Realty Trust, in this transaction.

May 10, 2016

California Office Western

Intercontinental Real Estate Buys Apollo at Rosecrans Office Campus in El Segundo

by Nellie Day May 10, 2016

LOS ANGELES — Intercontinental Real Estate Corp. has purchased Apollo at Rosecrans, a 546,833-square-foot creative office campus in the Los Angeles submarket of El Segundo, for an undisclosed sum. The four-building, 13-acre campus is located at 2150, 2120, 2121 and 2175 Park Place, along the Rosecrans Corridor, a hotspot for tech and creative companies. Apollo at Rosecrans is 98 percent leased. Amenities include concrete floors, African Mahogany accent panels, LED strip accent lights, a basketball court, dog park, biking and walking trails, shower facilities and an outdoor fireplace. NGKF’s Kevin Shannon and CBRE represented the sellers, Invesco Real Estate and Second Street Ventures, in this transaction.

May 10, 2016

Arizona Retail Western

CBRE Brokers $10M Sale of Shops at Arrowhead Gateway in Arizona

by Nellie Day May 10, 2016

GLENDALE, ARIZ. — CBRE has arranged the $10 million sale of Shops at Arrowhead Gateway, a 35,684-square-foot shopping center located on an outparcel of Arrowhead Towne Center Mall in Glendale. Steve Julius and Jesse Goldsmith of CBRE negotiated the transaction on behalf of the buyer, NLT Properties LLC. Chad Tiedeman and Steve Underwood of Phoenix Commercial Advisors represented the seller, FPWL Bell and 75th LLC, in the transaction. The 95 percent-occupied property is home to tenants including Red Mountain Weight Loss, iRepair Plus, Salon Boutique and Merle Norman. The center is also home to a medical component, with tenants including IMS Urologist, IMS Allergist, Noah’s Ark Pediatrics and Desert Valley Dental.

May 10, 2016

California Retail Western

BRC Advisors Arranges 846 SF Restaurant Lease in Pasadena

by Nellie Day May 10, 2016

PASADENA, CALIF. — BRC Advisors has brokered the lease of a retail property located at 59 Colorado in Pasadena. Situated within Indiana Colony, a new marketplace concept, the 846 square feet restaurant space is located within a 5,500-square-foot retail building. Surrounding tenants include CoolHaus, Pressed Juicery, Piehole and Intelligentsia Coffee & Tea. Lorena Tomb of BRC Advisors represented the tenant in the transaction. The names of the tenant and landlord were not released.

May 10, 2016

California Retail Western

JLL Expands Retail Leasing, Sales in Southern California

by Nellie Day May 10, 2016

LOS ANGELES — JLL has hired Scott Kaplan as executive vice president and Erik Westedt as senior vice president to expand the firm’s Southern California retail practice. The pair brings a combined 35 years of experience in the leasing, development and sale of retail properties locally, regionally and nationally. Throughout their careers, the pair has completed transactions encompassing 25 million square feet of retail space valued at more than $5 billion. Prior to joining JLL, Kaplan served as a senior vice president at a global commercial real estate firm and Westedt served as a vice president at a global commercial real estate firm.

May 10, 2016

Arizona Mixed-Use Western

Five Star to Develop The Palmeraie Mixed-Use Project Adjacent to $2B Ritz-Carlton Development in Scottsdale

by Nellie Day May 9, 2016

SCOTTSDALE, ARIZ. — Five Star Development has announced plans to build a high-end mixed-use center that will be connected to the $2 billion Ritz-Carlton, Paradise Valley master-planned development in Scottsdale. Phase I of The Palmeraie will encompass approximately 160,000 square feet of mixed-use space located on 18 acres at the corner of Scottsdale Road and Indian Bend. Tenants at Phase I will include over 60 luxury and specialty retailers and a variety of chef-driven restaurant concepts. A future phase is expected to include luxury residences, a gourmet grocery store and food emporium, and a boutique hotel. Five Star is consulting with Hanna Struever, principal of Retail Portfolio Solutions, to guide and create the luxury merchant mix within the center. Nelsen Partners is heading up the architectural vision of the project, which will be designed to create a series of indoor and outdoor spaces. The Ritz-Carlton, Paradise Valley will break ground this summer with completion of the hotel and residences expected for 2018. Construction on The Palmeraie is expected to break ground in the second half of this year.

May 9, 2016

California Office Western

Blueprint Post Production Buys Toluca Lake Office Complex for $13M

by Nellie Day May 9, 2016

LOS ANGELES — Blueprint Post Production has purchased a 60,087-square-foot office complex in the North Hollywood submarket of Toluca Lake for $13 million. The complex is located at 4142, 4144 and 4146 Lankershim Blvd. The three buildings were constructed in 1977, 1964, and 1987, respectively. They are adjacent to Universal City, near NBC Universal and CBS Paramount, as well as the 101 and 170 freeways. Stacy Vierheilig-Fraser of Charles Dunn Co. represented the post-production services company. Vierheilig-Fraser also represented the seller, Lankershim Media Center Associates, an entity of LS Capital.

May 9, 2016

California Retail Western

Marcus & Millichap Brokers Sale of Foothill Square in Los Angeles Suburbs

by Nellie Day May 9, 2016

POMONA, CALIF. — Marcus & Millichap has arranged the sale of Foothill Square, a 123,127-square-foot shopping center located in the Los Angeles suburb of Pomona, for an undisclosed price. David Ridgway of Marcus & Millichap represented the seller, a private limited family partnership, and Ridgway and Dimitry Orlov, also of Marcus & Millichap, represented the buyer, Reliable Properties, in the transaction. Superior Grocers and O’Reilly Auto Parts anchor the center, which is also home to tenants including Chase Bank and Carl’s Jr.

May 9, 2016

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