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September 18, 2018
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OC Shopping Center Acquired by Merlone Geier Partners

8/22/18

Merlone Geier Partners, out of San Diego, has acquired the leasehold interest in Hunter Court, a 127.4k sf, community shopping center anchored by CVS/pharmacy, Ross Dress For Less in Orange County. The property is located just off I-5 at 23812-24442 Rockfield Blvd in Lake Forest. The sale price was not disclosed.

Built in 1969 on 9.27 acres, the 98% occupied shopping center is situated at the signalized intersection of El Toro Rd and Rockfield Blvd, with an average daily car count estimated at 75,000. National credit tenants CVS/pharmacy, Ross Dress For Less, Payless ShoeSource, Jack in the Box, Café Rio, Sally Beauty Supply, OneMain Financial and HearUSA at Hunter Court account for 66% of the total occupied space with an average occupancy of 25 years.

Numerous capital improvements have been made in the recent years. Hunter Court’s parking lot was repaved and striped in 2016. New storefronts and canopies were added in 2015. The property has excellent exposure and identity along both El Toro Rd and Rockfield Blvd.

Jeremy McChesney with Hanley Investment Group Real Estate Advisors represented the seller, Bershon Realty Company of Los Angeles. Merlone Geier Partners repped itself in the deal.

“The Orange County retail investment market is still very strong,” commented McChesney. “Properties along the coast with good real estate fundamentals and internet-resistant tenants will continue to command the highest prices in the market.”




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