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August 12, 2020
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JH Real Estate Partners Pays over $46 Mil for OC Community Center


JH Real Estate Partners has purchased Bristol Center, a 165.5k sf, community retail center in Santa Ana, for $46.46 mil ($282/sf). It was sold by Sarofim Realty Advisors, a Dallas-based investment advisor.

Built in 1974, Bristol Center sits on 14.18 acres of leased-fee land at 3601-3825 S. Bristol St, directly across from South Coast Plaza. The property is 97% leased to high performing, national and regional credit tenants including CVS/pharmacy, Michaels, Staples, Party City, Wells Fargo, Buffalo Wild Wings, Chick-fil-A, Chipotle and Firestone Auto Care, among others.

Philip D. Voorhees, Preston Fetrow, Kirk Brummer, Megan Wood and Sean Heitzler with CBRE’s National Retail Partners-West (NRP-West) represented the seller in the deal. They also repped the buyer, an Orange County-based real estate investment company who purchased the property as an addition to its portfolio. The CBRE team distributed more than 376 confidentiality agreement/offering memoranda, with the listing generating multiple offers to purchase the property.

“Many of the best retail properties are on leased land due to their exceptional location,” said Voorhees. “With proximity to world-renowned South Coast Plaza, Bristol Center demonstrates that best-in-class community centers in premier locations like Orange County continue to generate strong investor demand.”

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