California

Following the recent opening of its first California store in San Jose, T&T Supermarket, Canada’s largest Asian grocery retailer, announced plans to open its fourth Bay Area location and first East Bay store at NewPark Mall in Newark. The 72,600-square-foot store will occupy the former Macy’s anchor space for T&T’s largest California location to date. …

Ground lease REIT Safehold Inc. has closed on a $45-million ground lease for the development of an affordable housing community in the Soquel area of Santa Cruz. The project will be developed by The Pacific Companies, a prolific development firm and repeat Safehold customer. “This is a high-quality, large-scale community in a high-cost coastal submarket …

Multifamily developer and investment manager Quarterra has broken ground on Aldea, its first apartment community in Murrieta and its 13th in Southern California. Eldridge Acre Partners (EAP), a privately held real assets investment management firm, provided preferred equity to the development. The project’s lead lender is ING Capital LLC. “Murrieta is a strong residential market due to …

Colliers finalized the $40.5-million sale of Gateway at Menifee, a 229,934-square-foot industrial facility located at 33520 Zeiders Rd. in Menifee. The property is Building 3 within the five-building industrial complex, formerly known as Scott Road Commerce Center. EVP Rick Nunez, SIOR, associate Mateo Mobilia and senior client services specialist Michael Romero represented the buyer, Temecula-based …

Marcus & Millichap said Thursday that Thomas Gorman has been appointed senior managing director and leader of its national net lease division. In the newly created role, Gorman will oversee the ongoing growth of the national net lease division, partner with agents to strengthen existing industry relationships, and untap strategic growth opportunities. “Thomas is a proven leader and accomplished …

Dermody has acquired the former headquarters of electric vehicle maker Faraday Future, located at 18455 Figueroa St. in Los Angeles, for an undisclosed sum. The site will be redeveloped as LogistiCenter at 110, a ground-up, Class A logistics facility totaling 180,705 square feet in the supply-constrained South Bay submarket. “Strategic infill opportunities of this scale …

C&C Development, in partnership with Riverside Charitable Corporation, announced the opening of Cartwright Family Apartments, a 60-unit affordable housing community on 1.6 acres at 17861 Cartwright Rd. in the Irvine Business Complex. The community is for households earning between 30% and 80% of the Orange County area median income (AMI), with a portion of units set aside for …

Newmark has arranged a $210-million financing secured by the remaining condominium inventory at Skyline OC South Coast Residences, a 25-story luxury residential development at 9 MacArthur Pl. in Santa Ana. Co-head of Global Debt & Structured Finance Jordan Roeschlaub, vice chairman Nick Scribani, senior managing director Ricky Braha, director Holden Witkoff and associate Niv Shahmoon arranged the financing on behalf …

Sea Breeze Properties, joined by civic and business leaders, residents, and community members, recently celebrated the grand opening of 222 North City, a new residential project at the center of San Marcos’ evolving North City district. Designed by Safdie Rabines Architects, the 12-story community combines contemporary architecture, hospitality-inspired living, public art, and community-driven design. “We …

Whitewater Commercial Real Estate, a San Diego-based commercial real estate brokerage specializing in multifamily investment sales and development opportunities, closed the sale of 856 Grand Ave., a redevelopment site located in Pacific Beach. The property sold for $8,000,000. Whitewater epresented the buyer, 856 Grand Ave LLC. David Kern of The Mansour Group represented the seller, …

CIM Group’s Permanent Power Company has closed an approximately $600-million construction financing facility to proceed with development of Grape, its solar and energy storage project in California. The financing package includes an approximately $372.3-million construction-to-term loan, an approximately $166.7-million tax credit transfer bridge loan, and an approximately $61.3-million letter of credit facility. Truist serves as …

Hanley Investment Group Real Estate Advisors completed the $5-million sale of a 7‑Eleven-occupied convenience store and gas station in Clovis. Within the past 12 months, Hanley has closed more than $60 million in corporate convenience store and gas station deals across California. VP Jacob Fahner and EVP Jeremy McChesney represented a Los Angeles–based private investor in the …

Estia Roseville, a new residential community development by affiliated Zilber Ltd. entities Zilber Residential Group and Homes by Towne, is introducing a new housing option to Greater Sacramento with the debut of 209 cottage-style single-story apartment homes in Roseville. The complex recently held its grand opening with Roseville Mayor Krista Bernasconi, members of Roseville City Council, and …