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12/09/16
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Paragon Commercial Group LLC has acquired Rusty Leaf Plaza, a 60.3k sf, neighborhood shopping center in the Orange County community of Orange. Rusty Leaf Plaza is situated on 4.67 acres at 2512-2620 East Chapman Ave, one block from where East Chapman intersects with the 55 Fwy.
Formerly anchored by Ralphs supermarket, Rusty Leaf Plaza will be repositioned in the coming months to include a new “flexible format” Target store as the new anchor as well as a mix of national and regional shop tenants. The new Target store is the 10th “flexible format” store in the greater Los Angeles area and features the same assortment of merchandise and groceries as a normal Target but in a much smaller format. The 41.7k sf location in Orange is slated to open in October 2017.
CJ Osbrink with HFF represented the buyer and the seller, Rusty Leaf Plaza LLC, in the deal.
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