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2/25/22
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Goldenwest & Bolsa, a 63.3k sf shopping center in Huntington Beach, traded hands in a $23.5 mil ($371/sf) deal. The property covers six acres at 15031 Goldenwest St, at the high-traffic intersection of Goldenwest St and Bolsa Ave.
Goldenwest & Bolsa was constructed in 1974 and is 95.4% leased to a diverse mix of daily needs and internet-resistant tenants. The center sits across the street from the Westminster Mall mixed-use project, adding up to 1,000 new residential units to the immediate area that already includes 218,439 residents within a three-mile radius with annual household incomes exceeding $105,000. Additionally, the five miles surrounding the property welcomes a daytime population of 475,370.
Gleb Lvovich, Geoff Tranchina and Daniel Tyner with JLL Retail Capital Markets represented the seller, a private equity fund. A local, private investor acquired the asset.
“The sale of Goldenwest & Bolsa represents robust interest in value-add retail/repositioning sites, especially in dense, infill trade areas in Southern California,” Lvovich said. “With 91% of the tenancy expiring in two years and no options remaining, the property is a blank canvas for a multitude of uses. We saw robust bidding from investors with various real estate specialties.”
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