Western

Hanley Investment Group Arranges $11.8M Sale of Retail Property in Huntington Park

by Nellie Day March 15, 2016

HUNTINGTON PARK, CALIF. — Hanley Investment Group Real Estate Advisors has brokered the sale of a single-tenant, absolute net-leased Walgreens property, located at 6100 Pacific Blvd. in Huntington Park. A private investor based in Northern California acquired the 15,525-square-foot property for $11.8 million. Walgreens has more than 22 years remaining on its initial 30-year term. Patrick Kent and Bill Asher of Hanley Investment Group represented the seller, a private investor based in Los Angeles, while Nigel Keep and Bill Kurfess of Kidder Mathews represented the buyer in the transaction.

March 15, 2016

Hawaii Retail Western

Nordstrom Opens New Store at Ala Moana Center in Honolulu

by Nellie Day March 15, 2016

HONOLULU — Nordstrom Inc. has opened its new, relocated store at Ala Moana Center in Honolulu. The three-level, 186,000-square-foot store features new interior and exterior design concepts, a full-service restaurant and bar, cocktail lounge and new departments. The store is a relocation from its previous home at the other end of the mall, which opened in 2008. Founded in 1901 as a shoe store in Seattle, today Nordstrom operates 326 stores in 39 states, including 121 full-line stores in the United States, Canada and Puerto Rico; 197 Nordstrom Rack stores; two Jeffrey boutiques; and one clearance store.

March 15, 2016

California Retail Western

Gerrity Group Acquires Fallbrook Mercantile Center Near San Diego for $23.6M

by Nellie Day March 14, 2016

FALLBROOK, CALIF. — Gerrity Group has acquired Fallbrook Mercantile Center, a 70,410-square-foot grocery-anchored shopping center located in the San Diego-area community of Fallbrook, for $23.6 million. Major Market Grocery Store anchors the center, which is 97 percent occupied by tenants including Anytime Fitness, Sherwin Williams, Burger King, Jersey Mike’s Subs, Fantastic Sam’s and Denny’s. Gleb Lvovich and CJ Osbrink of HFF represented the seller, Tourmaline Capital, in the transaction.

March 14, 2016

Multifamily Seniors Housing Washington Western

Archdiocese of Seattle Partners on New Seniors Community

by Nellie Day March 14, 2016

SEATTLE — Columbia Pacific Advisors is entering into a long-term ground lease with the Archdiocese of Seattle and St. James Cathedral to build a 237-unit, 24-story senior housing community in Seattle’s First Hill neighborhood. The community, on a half block of Archdiocese-owned land at 620 Terry Ave., will offer independent living, assisted living and memory care. Columbia Pacific Advisors expects to start construction on the senior living project in 2017, and the project is scheduled to open in 2019. Columbia Pacific Advisors is a real estate investment firm based in Seattle.

March 14, 2016

Nevada Retail Western

Wahlburgers Signs Development Deals in California, Las Vegas

by Nellie Day March 14, 2016

LAS VEGAS — Wahlburgers, a better burger restaurant founded by Chef Paul Wahlberg with celebrity brothers Mark and Donnie, has signed deals with five new franchise groups. The new deals will allow the chain to open more than 30 stores in several major metro markets, including in California and Las Vegas. Since its 2011 debut in Hingham, Mass., Wahlburgers has expanded steadily. To date, 12 area development deals, including in two airports, are in place, committing franchise groups to a total of 118 Wahlburgers locations over the next several years. Eight locations are planned for the Bay Area of California, and a 15-store agreement was signed for the Los Angeles area.

March 14, 2016

California Multifamily Seniors Housing Western

JCH Arranges $10.9M Sale of Three-Property Skilled Nursing Portfolio in California

by Nellie Day March 14, 2016

PASADENA, CALIF. — JCH Senior Housing Group, a brokerage based in California, has arranged the sale of three skilled nursing facilities in Pasadena for $10.9 million. The properties were Pasadena Residential Care Center (136 beds), Castle View Retirement Estate (40 beds) and Garfield Care Center (60 beds). SYTR bought the portfolio out of bankruptcy from 1415 Garfield LLC, 1425 Garfield LLC and 1435 Garfield LLC. Shep Roylance led the JCH team on the transaction.

March 14, 2016

California Retail Western

Colliers Retail Foresight Negotiates 2,400 SF Retail Lease in Downey

by Nellie Day March 14, 2016

DOWNEY, CALIF. — Colliers Retail Foresight has arranged the lease of 2,400 square feet of retail space at The Marketplace at Gallatin Road in Downey. Lindora, a weight loss and wellness clinic, will occupy the space at the 66,000-square-foot neighborhood shopping center. James Rodriguez and Michael Bohorquez of Colliers Retail Foresight represented the undisclosed landlord in the transaction.

March 14, 2016

California Mixed-Use Western

Jerico Development, Ratkovich Co. Launch $100M Redevelopment of Ports O’Call Village in San Pedro

by Nellie Day March 11, 2016

SAN PEDRO, CALIF. — Jerico Development and The Ratkovich Co. have partnered to revitalize Ports O’Call Village in San Pedro. To be renamed San Pedro Public Market, the project will include a 30-acre retail and dining destination on San Pedro’s waterfront and up to 375,000 square feet of commercial, retail, restaurant, hotel and conference center space. With construction slated to begin in 2017, the first phase of the project will feature 16 acres of restaurants, shops, office and market space, and a waterfront promenade. Additionally, the project will feature outdoor space, including an open-air amphitheater for concerts and family-friendly entertainment. Tim J. Delaney Design and TFO Architecture are designing the first phase of the $100 million revitalization.

March 11, 2016

Arizona Loans Multifamily Western

Sunroad Enterprises JV Receives $23.5M Loan for Acquisition of Sonoma Ridge Apartments in Phoenix

by Nellie Day March 11, 2016

PHOENIX — A joint venture led by Sunroad Enterprises received $23.5 million in first mortgage debt to finance the acquisition of the 240-unit Sonoma Ridge Apartments in Phoenix. The community is located at 8201 W. Beardsley Road. HFF’s Aldon Cole and Tim Wright arranged the financing, which Mesa West Capital provided.

March 11, 2016

California Retail Western

O’Reilly Automotive Enterprises Acquires Three Land Parcels in Los Banos

by Nellie Day March 11, 2016

LOS BANOS, CALIF. — O’Reilly Automotive Enterprises has acquired three retail land parcels in Los Banos. O’Reilly acquired a 15,912-square-foot parcel and a 17,291-square-foot land parcel, both located at the northwest corner of Pacheco Pass and Sixth Street, from Balatti Family Trust for undisclosed price. Additionally, O’Reilly purchased a 14,288-square-foot land parcel at the northwest corner of Pacheco Pass and Sixth Street in Los Banos from Douglas Balatti Revocable Trust. Lewis Smith of Retail California brokered the three transactions.

March 11, 2016

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