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5/30/18
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Merlone Geier Partners has acquired College Plaza Shopping Center in Fullerton from a private investor for $29.7 mil. The 77.3k sf retail property is located at 2400-2520 East Chapman Ave, just west of the 57 Fwy.
Constructed in 1962 and renovated in 1998, College Plaza Shopping Center was 73% occupied and anchored by Goodwill and 99 Cents Only. During the sales process, Goodwill vacated, further enhancing the projects appeal as a true value-add opportunity.
JLL's Geoff Tranchina, CJ Kodani and Scott Burns with JLL represented the seller in the transaction, working with seller principals John Nichols and Matt Clabaugh. Merlone Geier represented itself.
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