High-rise commercial buildings

Sub Markets

Property Sectors

Topics

California CRE News In Your Inbox.

Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.

New call-to-action
California  + Los Angeles  + Retail  | 

Signal Hill Retail Center Trades Hands

Phoenix-based BIG Shopping Centers USA, Inc. sold Towne Center East, a fully-leased, 154,750-square-foot retail center in Signal Hill, CA. The buyer was reportedly Chicago-based ShopCore Properties, which paid $61 million for the asset. The center is 100% leased to two high-performing anchors, The Home Depot and PetSmart, along with such inline tenants Supercuts, T-Mobile, Subway and GNC.

The JLL Capital Markets team representing the seller was led by Patrick Toomey and Tom Lagos. The JLL Capital Markets debt placement team, representing the new owner in placing the fixed-rate acquisition loan with a global investment bank, included Matthew Stewart and Reid McGlamery.

Lagos says, “The sale of Towne Center East is another example of the strong demand for quality retail real estate in Southern California. The property attracted a spectrum of private and institutional bidders seeking well-located real estate with a risk averse income stream.”

The asset is located at 2172-2598 Cherry Ave., in a dense, infill location adjacent to Long Beach.

For comments, questions or concerns, please contact Dennis Kaiser

Connect

Inside The Story

Connect With ShopCore PropertiesConnect With BIG Shopping Centers USAConnect With JLL’s Lagos

About Dennis Kaiser

Dennis Kaiser is Vice President of Public Relations and Communications for Connect Creative. Dennis is a communications leader with more than 40 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect Creative’s agency client services and is involved in a range of initiatives ranging from public relations and content strategy, communications and message development, copywriting, media relations, social media and content marketing services. Prior to joining Connect Media in 2015, his most recent corporate communications roles involved leading a regional public relations effort across Southern California for CBRE, playing a key marketing role on JLL’s national retail team, and directing the global public relations effort at ValleyCrest (BrightView), the nation’s largest commercial landscape services company. He has worked on marketing communications assignments for such CRE companies as Blackstone/Equity Office, Carlyle, Caruso, Disney Resorts, GE Capital, Irvine Company, Hines, Howard Hughes Corp., Jeffries, Lennar, MGM, Marcus & Millichap, Prologis, Raleigh Studios, Simon, Starwood, Trammell Crow Company, Transamerica, UBS and Wynn Resorts. Dennis has also worked on communications and launch strategies for a number of consumer electronic, media and tech brands including SlingMedia, Channel Master, Deluxe Media Entertainment, BeIn Sports, EchoStar and Sprint. Dennis’s agency background included firms such as Off Madison Ave., Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, Boy Scouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and the Thunderbirds Charities.

  • ◦Sale/Acquisition
New call-to-action
New call-to-action
New call-to-action
New call-to-action
New call-to-action