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1/20/17
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Lakeside Plaza, a 36.5k sf, neighborhood retail center in Anaheim, sold for $4.6 mil ($126/sf). The center sits on a 115k sf site at 3440-3492 East Orangethorpe Ave, north of the 91 Fwy at Lakeview Ave.
The center is a single-story, 23-suite retail building with a common parking area. It is situated in proximity to a variety of daily-need amenities, banking institutions and medical offices. The neighborhood is in a stable stage of development, with limited opportunity for new retail centers.
The property was sold by Orange County Transportation Authority (OCTA), who is nearing completion of a large, multi-phase project called OC Bridge that will eliminate railroad grade crossings with the construction of bridges at five intersections in the cities of Anaheim, Fullerton, and Placentia. These upgrades will improve safety, convenience and traffic flow.
CBRE’s Peter Andrich, Rick Warner, Tom Abel and Matt Osborn represented the seller in the transaction. Joe Miller, also with CBRE, repped the buyer, a private local retail investor.
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