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July 9, 2020
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Major Portion of The Village at Orange Retail Center Traded between Investors


A majority, 468k sf portion of The Village at Orange, an 850k sf retail center in the Orange County city of Orange, has sold for $84.5 mil, or about $180/sf. The transaction between two unnamed institutional investors did not include the Sears and JCPenney stores at the center, which are separately owned.

The Village at Orange is situated at 1500 East Village Way, adjacent to the 55 Fwy and approximately 1.5 miles south of the 91 Fwy in the heart of Orange County. Surrounded by some of Southern California’s wealthiest and most desirable neighborhoods, the property caters to a high-income customer base and delivers high-quality national tenants to a historically underserved retail trade area.

Currently undergoing redevelopment, the center incorporates an indoor regional mall, which will be partially converted to open-air retail upon completion of renovations, and also a smaller adjoining community center component. In addition to the separately-owned Sears and JCPenney, tenants include Walmart, Trader Joe’s, Sprouts Farmers Market, Ross Dress for Less, Ulta, Home Goods, Party City and PetSmart. The property was 92 percent leased at the time of sale.

Bryan Ley, Gleb Lvovich and CJ Osbrink with HFF represented the seller in the transaction.

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