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8/09/19
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A 15k sf, freestanding retail building in Anaheim was purchased by a private investor for $1.9 mil, or $127/sf.
Built in 1961, the property sits on a 27.9k sf lot at 1672 W Lincoln Ave, within the North Orange County submarket. The building has excellent street visibility, with outstanding signage, just East of Euclid and South of the Santa Ana 5 Freeway.
The property is centrally located near Target, Walmart, Ross, TJ Maxx, Forever 21, Petco and other large national tenants. There are an estimated 304,878 people living within a three-mile radius of the site, with an average annual income of $75,385. The property was 100% vacant at the time of the sale. The new owner plans to renovate the property and open a closeout brand-name home goods and apparel store.
Mariko Beaver with NAI Capital represented the buyer, A & D Estates. The seller, Chalek Company LLC, was repped by CBRE.
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