NEWARK, CALIF. – Four new stores are opening at the Newpark Mall in Newark. Three Kings barbershop has leased 1,550 square feet; The Humidor cigar shop has leased 1,297; Focus women’s shoe store has leased 2,349 square feet; and Sprouts children’s shoe store has leased 1,880 square feet.
Western
SAN JOSE, CALIF. — PCCP, LLC and Hunter Storm Properties have formed a joint venture to acquire a 30-acre infill land parcel in San Jose. The JV immediately sold five of the acres at closing. It plans to use the balance for Village Oaks, a 320,000-square-foot retail development. Construction should commence on this project in the fourth quarter of 2012. It should be completed a year later. The parcel is located at Cottle Road and Highway 85.
SACRAMENTO, CALIF. – Colliers’ Sacramento office has gained five new brokers. They include Tom Walcott, Kris Reilly, Jason Rutherford, Scott Bennett and Ken Johnson. All five brokers were previously with Grubb & Ellis.
ANAHEIM, CALIF. — Gateway One Lending & Finance, LLC has signed an eight-year lease expansion for 41,148 square feet of office space in Anaheim. The office is located at 175 N. Riverview Drive. The property’s landlord is a joint venture of Greenlaw Partners and Walton Street Capital. The transaction was brokered by Chris Migliori of DAUM’s Orange County, Calif., office.
WEST HOLLYWOOD, CALIF. — The 25-unit Villa Sarah apartment community in West Hollywood has sold to DSPG Management for $4.15 million. The community was built in 1950 and is located at 1280 N. Laurel Ave. The seller, General Western Monticello Company, was represented by David J. Harrington of Hendricks & Partners’ North Los Angeles office.
VERNON, CALIF. — Mola has signed a five-year lease for a 129,544-square-foot industrial building in Vernon. The building is located at 2957 E. 46th Street and includes 25,000 square feet of office space. Mola was represented by Doug Cline of Lee & Associates. The landlord, Karney Management, was represented by Paul Sablock ofJones Lang LaSalle and Greg Stanton of CBRE.
NORTHRIDGE, CALIF. – Both the Yard House and Elephant Bar have signed on at the Northridge Fashion Center. The Yard House will lease more than 10,000 square feet, while Elephant Bar will occupy 6,700 square feet. Both are scheduled to open in late fall 2012.
SAN DIEGO – An 18,295-square-foot leased parcel beneath a 10,500-square-foot office building in San Diego has sold to Tecolote Associates for $1,865,000. The 0.42-acre parcel is located at 1331 Morena Blvd. Tecolote was represented by John Michaelsen and Todd Law of Capital Growth Properties. Paul Lafrenz, Paul Komadina and Melissa Foster of CBRE represented the seller, the City of San Diego, in this transaction.
SAN JOSE, CALIF. — An affiliate of Republic Urban Properties LLC has received an $8.37-million first-mortgage bridge loan to acquire a 2.36-acre land parcel in San Jose. A 218-unit Class A apartment complex is planned for the site, along with 14,000 square feet of retail space. Chris Simon of Pembrook Capital Management originated the loan. Curtis Palmer and Ted Fentin from Multi-Housing Capital Advisors acted as advisors on behalf of the sponsor.
FORT COLLINS, COLO. — Choice Center at CSU, a 112,820-square-foot land building in Fort Collins, has sold to a limited liability company for $4,312,374. The infill development is located at 1635 South College Ave., adjacent to Colorado State University, Fort Collins. The center is normally 100 percent occupied, though it will undergo immediate redevelopment. A triple-net leased shopping center with 35,092 rentable square feet was also included in this transaction, which was executed by Marcus & Millichap’s Denver office on behalf of the seller, a developer.