Western

HFF Arranges $33M Refinance of The Village at Nellie Gail Ranch in Laguna

by Nellie Day August 19, 2015

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.

August 19, 2015

California Loans Retail Western

DTZ Mortgage Services Closes $8.7M Acquisition Loan for Retail Center

by Nellie Day August 19, 2015

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.

August 19, 2015

California Loans Retail Western

Madison Marquette, Carlin Arrange Recapitalization of Napa Retail Center

by Nellie Day August 19, 2015

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.

August 19, 2015

California Retail Western

Codding Enterprises Sells Shopping Center in Santa Rosa for $16.3M

by Nellie Day August 18, 2015

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.

August 18, 2015

California Multifamily Seniors Housing Western

CBRE Arranges Sale of Assisted Living Community in California for $8.2M

by Nellie Day August 18, 2015

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.

August 18, 2015

California Retail Western

Burger King Building in Highland Sold for $2M

by Nellie Day August 18, 2015

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.

August 18, 2015

California Restaurant Retail Western

Dolce Pane e Vino to Open in San Diego

by Nellie Day August 18, 2015

SAN DIEGO — Dolce Pane e Vino will open a 5,126-square-foot location at The Village at Pacific Highlands Ranch, a 160,000-square-foot mixed-use development located in the North County Carmel Valley area of San Diego. The restaurant is expected to open in November. Randee Stratton of Newmark Grubb Knight Frank completed the lease on behalf of Dolce Pane e Vino. CBRE represented the owner, PHR Village LLC.

August 18, 2015

California Retail Western

Westfield Announces Tenant Roster for The Village at Westfield Topanga

by Nellie Day August 18, 2015

CANOGA PARK, CALIF. — Westfield Corp. has announced the tenant roster for The Village at Westfield Topanga, which is slated to open this fall. • Anchors: Costco, REI, Crate & Barrel, 24 Hour Fitness, Burke Williams • Restaurants: Cava Grill, EMC Seafood & Raw Bar, Eureka! Gourmet Burgers & Craft Beer, Il Fornaio, Jimmy’s Famous American Tavern, JOEY Topanga, Larsen’s Steakhouse, Le Pain Quotidien, Lucille’s Smokehouse BBQ, Panera Bread, Pieology Pizzeria, Sushi Katsu-Ya, Tender Greens, Veggie Grill, Wokcano, XOC Mex Cuisine • Eateries: Barista Society, Coffee Bean & Tea Leaf, ConfeXion, DAVIDsTEA, Go Green Yogurt, Peet’s Coffee, Pressed Juicery, The Slaw Dogs, Sloan’s, Splash Fruits, SusieCakes, Yogurtland • Health & Fitness: Shall We Dance Studio, YogaWorks • Beauty & Wellness: 18/8 Fine Men’s Salon, Adore Organic Innovation, Blushington, Drybar, Juan Juan Salon, Nail Garden, Planet Beauty, Rain, Skin Laundry, Sugar Nails • Home: Bassett Furniture, Jonathan Adler, Sur La Table, Z Gallerie • Jewelry & Accessories: Dejaun Jewelers, Manya Jewelers, Sunglass Hut • Apparel: Athleta, Eddie Bauer, Everything But Water, Fabletics, J.D. Luxe, J. Jill, M. Fredric, Varga • Electronics: T-Mobile, Verizon, Video & Audio Center • Financial: Charles Schwab, Financial Partners Credit Union, Wells Fargo • Specialty Retailers: Andrei …

August 18, 2015

Market Reports Nevada Retail Western Western Market Reports

Las Vegas’ Retail Market Stabilizes

by Nellie Day August 18, 2015

The Las Vegas retail market is transitioning from recovery to stability. Based on CoStar’s second-quarter report, the overall vacancy rate was 9.9 percent, a slight decrease from the 10 percent experienced at the end of the second quarter of 2014. The decrease is impressive considering the 2 million square feet in net absorption that occurred during this same period. Rental rates have continued to average around $1.30 per square foot, per month for the past 2.5 years, although we are hearing about newer centers achieving impressive rate increases. There was 822,512 square feet of retail space under construction at the end of the second quarter of 2015. Ikea is the largest retail project currently under construction in Southern Nevada, which is expected to open next summer. The second largest project is Tivoli Village’s 117,516-square-foot expansion. Restoration Hardware also signed a lease this quarter for 77,000 square feet at Tivoli. It is expected to take up occupy during the first quarter of 2016. Though private investors dominate the market, we are seeing more institutional investors who are interested in acquiring newly stabilized product. Cap rates have continued to decline, averaging 6.53 percent for 2015, compared to a 2014 average of 6.99 …

August 18, 2015

California Retail Western

Burger King Location in Baker Sold for $2.4M

by Nellie Day August 17, 2015

BAKER, CALIF. — Progressive Real Estate Partners has arranged the sale of the Baker Burger King location. A private North Hollywood-based investor bought he 3,705-square-foot outpost for $2.45 million. Frank Vora of Progressive represented the seller, a private investor, in this transaction.

August 17, 2015

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