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6/20/18
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A 22.5k sf retail center in Seal Beach was acquired by a local 1031 exchange investor for $12 mil in cash in an off-market transaction.
Located at 1190-1198 Pacific Coast Highway, the well-maintained property has a strong mix of medical and service-oriented tenants, such as OptumCare Medical Group, LabCorp, and The UPS Store. The property had an occupancy rate of 96% at time of sale.
Nathan Holthouser and James Lehigh of CBRE represented the buyer, Gary Sauter. The sellers, Rodi Properties LLC and Zoeter Place LLC, were repped by Sheri McCanless of NAI Capital.
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