SANTA MONICA, CALIF. – A 1,987-square-foot retail property in Santa Monica has sold to an unnamed buyer for $1.85 million. It is located at 2301 Wilshire Blvd. across from a Whole Foods Market. The buyer was represented by Mitch Stokes of Madison Partners. The unnamed seller was represented by Geno St. John, William Althouse and T.C. Macker of Coldwell Banker Commercial WESTMAC.
Western
SUPERIOR, COLO. – Kumon Learning Center has leased 1,405 square feet of space at Superior Marketplace in Superior. Kumon was represented by Jetta Yacovetta of West USA Premier. The landlord, Brixmor Property Group, was represented in-house by Paul Sheppard.
RIVERSIDE, CALIF. – Riverside Plaza, a 475,211-square-foot retail center, has been sold to a joint venture between Vestar and a fund advised by UBS Global Asset Management for $84.8 million. The center is 92 percent leased. It is anchored by Vons Supermarket, Trader Joes, CVS Pharmacy and Regal Cinemas Stadium 16. Other notable tenants include Forever 21, Chico’s, JoS. A. Bank, El Torito, California Pizza Kitchen, Islands Burgers, Chase Bank, Panera Bread, Chipotle, Wendy’s and El Pollo Loco. The seller, Westminster Funds, was represented by HFF’s Bryan Ley, Ryan Gallagher, John Crump and CJ Osbrink. Vestar represented itself in this all-cash transaction.
SACRAMENTO, CALIF. – Bayside Communities has purchased the 220-unit Azure Park Apartments in Sacramento for an undisclosed sum. The affordable housing community is currently 85 percent leased. Bayside plans to renovate and rebrand the property as Lotus Landing. Financing was provided by Pembrook Capital Management.
RIVERSIDE, CALIF. – Riverside Plaza, a 475,211-square-foot retail center, has been sold to a joint venture between Vestar and a fund advised by UBS Global Asset Management for $84.8 million. The center is 92 percent leased. It is anchored by Vons Supermarket, Trader Joes, CVS Pharmacy and Regal Cinemas Stadium 16. Other notable tenants include Forever 21, Chico’s, JoS. A. Bank, El Torito, California Pizza Kitchen, Islands Burgers, Chase Bank, Panera Bread, Chipotle, Wendy’s and El Pollo Loco. The seller, Westminster Funds, was represented by HFF’s Bryan Ley, Ryan Gallagher, John Crump and CJ Osbrink. Vestar represented itself in this all-cash transaction.
SACRAMENTO, CALIF. – Bayside Communities has purchased the 220-unit Azure Park Apartments in Sacramento for an undisclosed sum. The affordable housing community is currently 85 percent leased. Bayside plans to renovate and rebrand the property as Lotus Landing. Financing was provided by Pembrook Capital Management.
RANCHO CUCAMONGA, CALIF. — A 177,550-square-foot industrial building in Rancho Cucamonga has sold to a joint venture between CT Realty Investors and Artemis Real Estate Partners for $10.25 million. The property is located at 10404 Sixth Street. It is fully leased to GITI Tire USA. The joint venture was represented by Ryan Lal and Jeff Smith of Lee & Associates’ Ontario office. The seller was represented by Ken Jones and Scott Ostlund from the same office.
LOVELAND, COLO. — Bass Pro Shops has signed on to anchor a major new development at Centerra, an expansive retail complex. The outdoor store will absorb about 117,000 square feet. Centerra also includes The Promenade Shops, a 700,000-square-foot lifestyle mall, The Marketplace at Centerra, a large retail power center and the Motorplex, an auto complex with eight major dealers.
FORT COLLINS, COLO. — The Whole Foods Center, a 68,334-square-foot, two-tenant retail center in Fort Collins, has sold to a private real estate fund advised by Crow Holdings Capital Partners. The fund also assumed an existing CMBS loan. The property is located at 2201 South College Ave. It is fully leased to Whole Foods and Wilbur’s Total Beverage. The seller, a private investor, was represented by HFF’s Bryan Ley, Barry Brown and John Crump.
RANCHO CUCAMONGA, CALIF. — A 177,550-square-foot industrial building in Rancho Cucamonga has sold to a joint venture between CT Realty Investors and Artemis Real Estate Partners for $10.25 million. The property is located at 10404 Sixth Street. It is fully leased to GITI Tire USA. The joint venture was represented by Ryan Lal and Jeff Smith of Lee & Associates’ Ontario office. The seller was represented by Ken Jones and Scott Ostlund from the same office.