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3/04/15
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Spirit Realty Capital has purchased a 6.5-acre site in Fountain Valley that houses a Curacao Department Store, in addition to an income-producing cell tower. The property, located at 16111 Harbor Blvd, between Edinger and McFadden Aves, traded for $25.9 mil.
Curacao occupies the property’s 103k sf, single-tenant building on a NNN basis with a long-term lease. The site location is along one of the most heavily-trafficked thoroughfares in Orange County.
Spirit Realty Capital is a publicly traded real estate investment trust based in Scottsdale, AZ. The seller, Red Mountain Asset Fund II, was represented by Eric Carlton, Michelle Schierberl, Jereme Snyder and Donald Ellis of Colliers International. Founded in 1999, Phoenix-based Red Mountain Retail Group maintains a portfolio encompassing over 3.5 msf of commercial retail development with a current value of over $700 mil dollars.
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