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8/18/17
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An LA-based private investor paid $18.5 mil for the fee interest in Anaheim Lincoln Shopping Center, a 73k sf neighborhood shopping center in Anaheim. The deal came in at 1.37% cap rate on the 2016 ground rent. The seller was a private partnership.
Anaheim Lincoln Shopping Center is located at 2394 W. Lincoln Ave, south of the 91 Fwy and west of I-5. The property is anchored by Vallarta Supermarket and encumbered by a short-term ground lease with just under four years of term remaining.
Kyle Miller and Bill Bauman with Savills Studley represented both parties in the transaction.
“Anaheim Lincoln Shopping Center is a unique infill redevelopment opportunity where the investor will inherit the improvements at the expiration of the ground lease and have the opportunity to remerchandise an already flourishing center with all new leases at market rents,” said Miller.
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