Press Releases
Marcus & Millichap Brokers Sale of Candlewood Shops at Lakewood Center in Lakewood, California
September 28, 2026
LAKEWOOD, Calif., Sept. 28, 2026 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of Candlewood Shops, a 42,379-square-foot portfolio of outparcels to Lakewood Center at 5310 Candlewood St. in Lakewood, California.
“This was the first time the property had been brought to market since its original development more than six decades ago,” said Bill Rose, senior managing director investments. “Its position as an outparcel to Lakewood Center, combined with established national tenants and the continued investment and development occurring in the surrounding area, made this a unique acquisition opportunity. Both parties were very pleased with the transaction and the outcome.”
Rose, of the Rose Retail Group in Marcus & Millichap’s San Diego Del Mar office, had the exclusive listing to market the property on behalf of the seller, Pacific Retail Capital Partners, and procured the buyer, a publicly traded company. The transaction was completed with all cash.
Candlewood Shops consists of 42,379 square feet of outparcels to Lakewood Center, a regional shopping center located near Lakewood, Candlewood, Clark and Del Amo boulevards. The parcels are occupied by national tenants including Chipotle, Starbucks, Chick-fil-A, Wells Fargo, Cava and Outback Steakhouse. Lakewood Center is anchored by Costco, Target, The Home Depot, Albertsons, Burlington, Macy’s, JCPenney, Best Buy and 24 Hour Fitness. The surrounding area is also positioned for additional development, with more than 1,000 new housing units planned as part of the Lakewood Center Mixed-Use Overlay.
“This was the first time the property had been brought to market since its original development more than six decades ago,” said Bill Rose, senior managing director investments. “Its position as an outparcel to Lakewood Center, combined with established national tenants and the continued investment and development occurring in the surrounding area, made this a unique acquisition opportunity. Both parties were very pleased with the transaction and the outcome.”
Rose, of the Rose Retail Group in Marcus & Millichap’s San Diego Del Mar office, had the exclusive listing to market the property on behalf of the seller, Pacific Retail Capital Partners, and procured the buyer, a publicly traded company. The transaction was completed with all cash.
Candlewood Shops consists of 42,379 square feet of outparcels to Lakewood Center, a regional shopping center located near Lakewood, Candlewood, Clark and Del Amo boulevards. The parcels are occupied by national tenants including Chipotle, Starbucks, Chick-fil-A, Wells Fargo, Cava and Outback Steakhouse. Lakewood Center is anchored by Costco, Target, The Home Depot, Albertsons, Burlington, Macy’s, JCPenney, Best Buy and 24 Hour Fitness. The surrounding area is also positioned for additional development, with more than 1,000 new housing units planned as part of the Lakewood Center Mixed-Use Overlay.
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About Marcus & Millichap, Inc. (NYSE: MMI)
Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2025, the company had 1,808 investment sales and financing professionals in over 80 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 8,818 transactions in 2025, with a sales volume of approximately $50.9 billion. For additional information, please visit www.MarcusMillichap.com.
