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August 12, 2020
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Merlone Geier Partners Spends $21 Mil on OC Retail Asset


Merlone Geier Partners purchased Warner West, a 73.4k sf, value-add retail redevelopment site in Huntington Beach, for $21.4 mil. The property was sold by a private family trust that has owned the asset for more than 45 years.

Warner West is situated on seven acres at 6885-6991 Warner Ave, at the intersection of Warner and Goldenwest St, one of the top intersections in Huntington Beach with more than 52,000 cars per day. Home to Big Lots, in-line shops and a restaurant pad building, the property was 78% occupied at the time of sale with short-term anchor and shop leases allowing for near term redevelopment of a well-located but aging shopping center.

Gleb Lvovich and Daniel Tyner with HFF represented the buyer in the deal. According to HFF, the buyer viewed the property as an ideal repositioning opportunity due to the below market in-place rents with near term lease roll over.

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