LOS ANGELES, CALIF. — U.S. Property Trust has purchased the Lakewood Galleria, a 19,008-square-foot shopping center in Lakewood, for an undisclosed sum. The center is located at 5115 Candlewood Road across from the Lakewood Galleria Mall. Tenants at the center include Fantastic Sam’s, Corner Bakery Café, Cold Stone Creamery, Rubio’s Grill and Pick Up Stix, among others. HFF brokered the transaction.
LOS ANGELES — Stevenson Real Estate Services has arranged the sale of a retail center located at 5581 Huntington Drive North in Los Angeles. 11305 West Moorpark LLC acquired the property for $4.1 million from Sandale LLC. Situated on a 28,807-square-foot land parcel, the property offers 9,689 square feet of retail space. Built in 2008, the property is 100 percent occupied by tenants including Antigua Bread Bakery & Café, Jackie’s Closet, Subway, Rite-Optics, Prodigy Hair Salon, Burrito Place, Boost Mobile and Tips 2 Toes. Randy Stevenson, Stephen Baker and Kris Hons of Stevenson Real Estate Services represented the seller, while Andrew Awaida of RE/MAX Optima represented the buyer in the transaction.
MORENO VALLEY, CALIF. — Fisker Automotive and Technology Group LLC has signed a long-term lease to occupy a 555,670-square-foot industrial building in Moreno Valley. The company plans to manufacture its ultra-luxury, plug-in electric hybrid Karma sports car at the facility. The new space is located at 17100 Perris Blvd. It is situated near Amazon’s and Procter & Gamble’s facilities. This new agreement will make Fisker the first automaker to operate an assembly plant in Southern California since 1992 when General Motors closed its Van Nuys plant, according to Colliers International, which executed the transaction. Ian DeVries and Chris DeVries of Colliers represented Fisker. Kevin McKenna and Ian DeVries of the same firm represented the landlord, First Industrial Realty.
ANAHEIM, CALIF. — R.D. Olson Construction has completed the 221-room Courtyard Anaheim Theme Park Entrance hotel near the Disneyland Resort in Anaheim. The hotel is located at 1420 South Harbor Blvd. It is within walking distance of the theme park. The newest Marriott property features Spanish architecture with family-friendly amenities like bunk beds and five-fixture bathrooms in each guest room. It also contains a 22,000-square-foot surfing-themed waterpark with slides, water cannons and tipping buckets, in addition to a traditional pool and spa, outside dining space, lounge, gift shop and meeting space.
LAGUNA HILLS, CALIF. — Holliday Fenoglio Fowler (HFF) has secured a $33 million refinancing for The Village at Nellie Gail Ranch, an 87,561-square-foot Smart & Final Extra-anchored shopping center located in Laguna Hills. James Fowler and Greg Brown of HFF represented the borrower, Fred Sands of Vintage Real Estate, to secure the two-year, floating-rate loan with three one-year extensions through Colony Capital. Tenants at the center include Chuck E. Cheese’s, Nothing Bundt Cakes, Banfield Pet Hospital, Rita’s Ice, Pharmaca, Laguna Hills Dental and Edible Arrangements. Loan proceeds will be used to refinance existing debt and fund capital expenditures related to tenant improvement costs and leasing commissions to lease the limited remaining vacant space.
CONCORD, CALIF. — DTZ Mortgage Services has closed an $8.7 million leasehold acquisition loan for the Four Corners Shopping Center in Concord. Located at Monument Boulevard and Oak Grove Road, the property consists of 35,921 square feet of retail space. Kurt Scheidt and Terry Daly of DTZ Mortgage Services arranged the non-recourse, fixed-rate loan for the borrower, Farm Sub LCC.
NAPA, CALIF. — A joint venture between Madison Marquette and Carlin Co. has arranged the recapitalization of Oxbow Publix Market, a 30,000-square-foot shopping center located in Napa. The center is 98 percent occupied by tenants including Hog Island Oyster Co., Gott’s Roadside, Five Dot Ranch, C Casa, The Fatted Calf, Kitchen Door, The Model Bakery, Ritual Coffee Roasters and Oxbow Cheese and Wine.
SANTA ROSA, CALIF. — Codding Enterprises LP has completed the disposition of the fully leased Cleveland Shopping Center in Santa Rosa to Hornstein Investments for $16.3 million. Situated on 3.5 acres, the two-building, 52,340-square-foot retail center is leased to Dick’s Sporting Goods and Patelco Credit Union. Dan Wald, Eric Kathrein, Justin Sharp and John Schaefer of DTZ represented the seller, while Bob Tuller of DTZ represented the buyer in the transaction.
LONG BEACH, CALIF. — CBRE Group Inc. (NYSE: CBG) has arranged the sale of the Bellagio Manor, a 208-bed assisted living facility located in Long Beach, to Glen Park at Long Beach Inc. for $8.2 million. The two-story property is 51,000 square feet, situated on 1.16 acres. The price per bed was $39,423. The facility was only 53 percent occupied at the time of sale, but the buyer saw opportunity in high demand in the area, according to CBRE. CBRE healthcare team members Bryan Lewitt and Chris Isola represented the seller, Bellagio Manor Inc.
HIGHLAND, CALIF. — Progressive Real Estate Partners has arranged the sale of a 3,541-square-foot Burger King in Highland for $2 million. A Pasadena-based private investor purchased the building. Frank Vora of Progressive represented the seller, also a private investor, in the transaction.