SAN FRANCISCO — Golden Gate Bell Restaurant Holdings (GGBRH) has acquired 72 Taco Bell restaurants in the Bay Area for an undisclosed sum. The restaurants are located throughout the Bay Area, from Benicia to Santa Cruz to Tracy. GGBRH is an affiliate of A&C Ventures Inc. (ACV). ACV now has an ownership stake in more than 100 YUM! Brands restaurants through its partnerships. The seller, franchisee Dolan Foster Enterprises LLC (DFE), opened its first Taco Bell restaurant in Oakland in 1969. DFE was one of the larger Taco Bell franchises in the nation.
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LAKE ELSINORE, CALIF. — HELF Investments has acquired Canyon Hills Marketplace, a 108,358-square-foot neighborhood shopping center in Lake Elsinore, for $33.5 million. The center is located at 25381-25341 and 29996-29997 Canyon Hills Road. Canyon Hills is fully occupied by tenants like Stater Bros., CVS, Jack in the Box, Wells Fargo, Carl’s Jr. and Panda Express. The center opened in two phases in 2006 and 2009. CBRE’s Reg Kobzi, Joel Wilson and Peter Orth represented both the buyer and seller, CHMP No 1 LLC & CHMP II Owner LLC, in this transaction.
WAIKOLOA VILLAGE, HAWAII — Waikoloa Highland Center, a 73,524-square-foot shopping center in Waikoloa Village, has sold to an unnamed buyer for $22.4 million. The center is located at 68-1845 Waikoloa Road on the Big Island of Hawaii. Waikoloa Highland is situated on the main road connecting Waikoloa to Hilo. It is 75 percent occupied. The center is anchored by Waikoloa Village Market. Other notable tenants include Chevron, Subway and First Hawaiian Bank. Waikoloa Highland is the only full-service grocery-anchored center in the entire trade area of Waikoloa Village within a 17-mile radius. The seller, 3D Investments, was represented by Donald MacLellan, Richard Chichester and Thomas Chichester of Faris Lee Investments.
OXNARD, CALIF. – PODS has leased a 232,500-square-foot building in Oxnard. The lease is valued at nearly $2 million. The company will be relocating and expanding from nearby Ventura, where it was based for eight years. The new space is located at 301 S. Rose Ave. CBRE’s Paul Farry, Jim Meaney, Doug Shaw represented both PODS and the landlord, One Miracle Property, in this transaction.
PHOENIX — First Commons at West 10, a 99,528-square-foot industrial complex in Phoenix, has sold to Enright Capital for $6 million. The building is located at 4625 and 4635 W. McDowell Road. It was built in 2002. The property was 60 percent leased at the time of sale. Bob Buckley, Tracy Cartledge and Steve Lindley of Cassidy Turley represented both the buyer and seller, MDI Capital, in this transaction.
BUCKEYE, ARIZ. — Interstate Holdings has acquired Watson Marketplace, a 90,000-square-foot retail center in Buckeye, for $22 million. The center is located at 441 – 733 S. Watson Road, about 30 minutes west of Phoenix. The transaction included 55,153 square feet of property on nearly eight acres that is leased to 15 tenants, including Goodwill, Denny’s, the UPS Store, Dunkin Donuts and Firehouse Subs. It also included two retail pads that are ground leased to McDonald’s and Bank of America. Chris Tramontano and Tom Chichester of Faris Lee Investments represented the all-cash buyer, which was also in a 1031 Exchange. The seller and property developer, Desert Troon Companies, was represented by Chris Tramontano, Matthew Mousavi and Patrick Luther of the same firm.
DENVER – The 77-unit Hilltop Apartments in Denver has sold to a local, low-income housing owner and operator for $7.3 million. The community is located at 1554 Logan Street and 1705 Franklin Street. The two buildings were built in 1990 and 1909, respectively. The property falls under Project Based Section 8 Housing. Jules Hochman and Justin Brockman of Pinnacle Real Estate Advisors represented both the buyer and seller in this transaction.
SIMI VALLEY, CALIF. — Auto World Center, an 18,875-square-foot auto retail center in Simi Valley, has sold to Khajerian Family Trust for $3.9 million. The center is located at 2170-2190 First Street in the Los Angeles submarket. First Street is also known as “Auto Center Drive.” Auto World Center is fully leased to a range of automotive service providers. The property, which was developed in 1986, contains three free-standing buildings. Ken Simons of NAI Capital’s Westlake Village office represented both the buyer and seller, the Pick Family Trust, in this transaction.
VALENCIA, CALIF. — PPG Aerospace has renewed its lease for 83,000 square feet of specialized industrial space in Valencia. The highly customized space is located at 24811 Ave. Rockefeller. PPG uses the property as its aeronautics manufacturing, design and office space. PPG Aerospace is a division of PPG Industries. The company was represented by Mark Evanoff and Andrew Berk of Avison Young. The landlord, Krausz Company, represented itself in this transaction.
SALT LAKE CITY – MasteryConnect has leased 17,353 square feet at a Class A office building in Salt Lake City. The building is located at 222 Main in the city’s Central Business District. The property was built in 2009. It was Utah’s first LEED-Gold certified building, according to the landlord, KBS Real Estate Investment Trust III. MasteryConnect was represented by JLL’s Jim Balderson and Jesse Mangum. KBS REIT was represented by CBRE’s Scott Wilmarth and Nadia Letey.