Sprouts Moving Into Former 99 Cents Only In Santa Ana: The LA Deal Sheet
NewMark Merrill Cos. signed Sprouts Farmers Market to a new lease for 26K SF at Bristol Warner Village, an 80K SF retail center at 2311 S. Bristol St. in Santa Ana. The new store will open in the last quarter of 2026. The Sprouts replaces a 99 Cents Only store that closed in 2024.
Sprouts joins a list of retailers and restaurants at Bristol Warner Village including IHOP, Starbucks, T-Mobile and Waba Grill. Ryan Sullivan and Jeff Nichols of CBRE represented Sprouts.
PEOPLE
Newmark hired Mark Lodmill as executive vice president for valuation and advisory. Lodmill brings expertise in multifamily assets, including student housing projects. A 28-year corporate real estate veteran, Lodmill’s expertise includes projects across Colorado, Oregon, Wyoming, New Mexico, Washington, Montana, Idaho, Utah and western South Dakota.
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WSP has promoted John Fisher to California regional executive. Fisher brings more than 25 years of experience to the position. As one of seven regional executives in the U.S., Fisher is responsible for WSP’s business delivery performance and client engagement in California. Fisher is based in San Francisco.
SALES
A 36K SF industrial property fully occupied by Tesla Collision Center at 18011 Mitchell South in Irvine sold for $21M. Tesla has a 10-year, corporate-guaranteed, triple-net lease in place with options to extend.
SRS Capital Markets Senior Vice President Pat Weibel represented the seller, North Palisade Partners. Mac Mace and Rob Rader of Topside Real Estate, who handled leasing for the seller, also advised on the sale with Weibel. The buyer, a Southern California-based private investor, was represented by Pat Lacey of Costa Mesa-based Tidemark Real Estate.
LEASES
CBRE arranged a 24K SF lease for Evoke Advisors at 2121 Avenue of the Stars in Century City.
The lease is a headquarters relocation for Evoke Advisors, a registered investment adviser. The firm has grown significantly since its founding in 2019. CBRE’s Blake Mirkin and Kyle Widener represented the tenant. The landlord is Irvine Management Co.
CONSTRUCTION AND DEVELOPMENT
C.W. Driver Cos. broke ground on the $54M Engineering & Computer Science Innovation Hub at California State University, Fullerton. The 45K SF facility will support the next generation of engineers, computer scientists and technology leaders. The facility includes a series of dry labs for disciplines including computing and robotics, makerspaces, student lounges and a wellness area.
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Developers of the Colton Commerce Center, a four-building, 182K SF, Class-A industrial park, marked the tilt-up of the project's walls, a construction milestone. Colton Commerce Center includes buildings ranging from 40K SF to 50K SF in a federally designated opportunity zone at 2245 W. Valley Blvd. in Colton.
The buildings at Colton Commerce Center are available for sale or lease with construction scheduled for completion in December 2025. JLL’s team of Cody Clayton, Scott Coyle and Jay Cuccia is marketing the property on behalf of the owner.
FINANCING
Gantry has secured a $9M loan to refinance a maturing loan on a suburban office building at 20955 Pathfinder Road in Diamond Bar. The three-story, Class-B building encompasses approximately 65K SF of rentable space and is 98% occupied by a range of professional tenants.
Gantry Senior Director Topher Van Mourick, with the firm’s Irvine production office, represented the borrower, a private real estate investor. The three-year, fixed-rate loan was secured from one of Gantry’s correspondent life company lenders. Gantry will service the loan.
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Convoy Capital closed a $15.3M construction loan for a 157-unit, 100% affordable development in South LA. The loan was issued at 65% loan-to-cost and a 30-month term with extension options.
