HANFORD AND CLOVIS, CALIF. — Retail California, a division of Pearson Realty, has arranged three retail leases totaling 7,658 square feet. In Hanford, Pieology leased 1,800 square feet of space at 1696-B W. Lacey Blvd. from Passco Hanford Mall LLC. Lewis Smith and Michael Kennedy of Retail California brokered the deal. Also in Hanford, Blazin Wings Inc. leased 4,623 square feet at 1699 W. Lacey Blvd. from Passco Hanford Mall LLC. Smith represented the landlord, while Phil Fontes of Newmark Grubb ASU & Associates represented the tenant. In Clovis, JR’s Sports Collectibles leased 1,235 square feet of space at 695 W. Herndon Ave. in Clovis Commons Shopping Center from BRE Throne Clovis Commons LLC. Michael Arfsten of Retail California arranged the transaction.
RANCHO CUCAMONGA, CALIF. — Progressive Real Estate Partners and Hanley Investment Group have listed Thomas Winery Plaza, a 99,808-square-foot shopping center in Rancho Cucamonga, for sale at $28.6 million. Built in 1989 and renovated in 2008, the property is more than 90 percent occupied and features a diverse mix of more than 30 national and regional/local retailers, including CVS/pharmacy, Fitness 19, Souplantation, The Flame Broiler, Klatch Coffee, Wine Tailor and Elements Massage. Brad Umansky and Frank Vora of Progressive Real Estate Partners, along with Bill Asher of Hanley Investment Group, are marketing the property on behalf of the seller, a private real estate partnership.
LOS ANGELES — Holland Partner Group has broken ground on 732 Spring Street, the second of two high-rise, mixed-use projects the firm is developing in a joint venture with North America Sekisui House in downtown Los Angeles. The 24-story tower will feature 300 residential units with luxury amenities and 7,500 square feet of ground floor retail. The $164 million tower is situated across the street from its sister property, 755 Spring Street, on which Holland broke ground late last year. The building sites are located in the Historic Core of downtown Los Angeles, along the edge of the Fashion District. Amenities at the towers will include a resort-style fitness center and clubhouse, a rooftop deck and cantilevered pool cabanas suspended five stories above street level. The towers will stand more than 100 feet above surrounding buildings, offering views of the greater Los Angeles area once completed in mid-2018. MVE + Partners designed the towers.
PAHRUMP, NEV. — DaVita HealthCare Partners has leased a new ground-up, built-to-suit medical office facility in Pahrump. The 57,000-square-foot facility is situated on a 7.2-acre site about 60 miles west of Las Vegas. The group will occupy the space once it opens next year. Details of the long-term lease were not disclosed, though the lease is valued “in the tens of millions of dollars,” according to MDL Group/CORFAC International. The firm’s Hayim Mizrachi, Jarrad Katz and Galit Kimerling executed the lease transaction between DaVita, the land owner, Thousandaire Inc., and the developer, Dakem & Associates. Aimee Burford and Bill Oakley of Bank of Nevada, a division of Western Alliance Bank, funded the development.
WESTMINSTER, CALIF. — Marcus & Millichap has arranged the sale of Little Saigon Shopping Center, an 85,133-square-foot leasehold community shopping center located in Westminster’s Little Saigon community. A local partnership sold the asset for $18 million, or $211 per square foot, with a cap rate of 6.26 percent. Wells Fargo anchors the center. Ron Duong of Marcus & Millichap’s Newport Beach, Calif., office represented the seller.
CARSON, CALIF. — Vintage Real Estate has signed F21 RED, Forever 21’s latest store concept, at SouthBay Pavilion located at 20700 Avalon Blvd. in Carson. Slated to open in spring 2017, the new concept offers a larger selection of the retailer’s most popular lines, including Forever 21, Forever 21 Men, Forever 21 Plus and Forever 21 Kids, at lower prices. Currently 98 percent leased, IKEA, JCPenney, Sears and Target anchor SouthBay. Additional tenants include Olive Garden, Pieology, Buffalo Wild Wings, Cinemark, Sephora, Old Navy, rue21, Wing Stop and Payless Super Store. Edge Realty Partners represented Forever 21 in the deal.
LONG BEACH, CALIF. — Marcus & Millichap has arranged the sale of a retail property located at 425 W. Anaheim St. in Long Beach. A private investor acquired the 7,296-square-foot property for $4 million. Situated on a 27,277-square-foot lot, the property was built in 2006. James Yang of Marcus & Millichap secured and represented the buyer in the deal.
SEATTLE — Newmark Realty Capital has arranged $44.2 million in construction financing for a 206-unit multifamily development in the South Lake Union area of Seattle. The Class A community will be called 624 Yale Apartments. It is scheduled for completion in November 2017. The project also contains 3,090 square feet of retail space. Brian Bonipart of Newmark Realty Capital arranged the financing.
REDLANDS, CALIF. — An unnamed buyer has purchased the 188-unit Tesoro Apartment Homes in Redlands for $27.7 million. The community is located at 106 W. Pennsylvania Ave., about a mile from the University of Redlands. Tyler Leeson and Alex Mobin of Marcus & Millichap represented the buyer, while IPA’s Alexander Garcia, Stewart Weston, Christopher Zorbas, David Sperling and John Montakab represented the unnamed seller.
SAN RAMON, CALIF. — DivcoWest has purchased Plaza San Ramon, a 312,000-square-foot office complex in the Silicon Valley submarket of San Ramon, for an undisclosed sum. The Class B complex is located at 2000-2010 Crow Canyon Place. The two-building plaza is currently 85 percent leased. It was built in the late 1980s and renovated by the prior owner in 2008. DivcoWest plans to implement a capital improvement program designed to reposition the asset as a Class A location for small- and mid-sized tenants.