|
|
2/05/26
|
Asana Partners acquired Seacliff Village, a 253.2k sf, grocery-anchored shopping center in Huntington Beach, in a recent $151 mil transaction. The property, located along Yorktown Ave between Goldenwest St and Main St, was sold by Barings. The purchase was financed with a loan for $83.79 mil.
The center is 95.8% occupied and anchored by a high-performing 69.9k sf Albertsons store. The property features a diverse tenant mix of nationally recognized brands including LA Fitness, Staples, Panera Bread, Starbucks and four banks with over $1.15 bil in combined deposits.
The 26.74-acre site is wholly owned including all 11 outparcels and shop buildings, providing total control over future opportunities at the property. The institutional-quality asset offers stability through its 58% credit tenant income stream with compelling upside potential as in-place rents are at only 80% of market rates.
The property attracts over 4.3 million annual visitors and benefits from strong demographics including $168,658 average household incomes and $1.42 mil average home values within a one-mile radius.
JLL Capital Market’s Investment Sales and Advisory team led by Senior Managing Directors Gleb Lvovich and Geoff Tranchina and Managing Director Daniel Tyner represented the seller in the deal. Senior Managing Director Anthony Fertitta Jr. and Managing Director John Marshall arranged the financing.
“Generational assets such as Seacliff Village rarely come to market and Seacliff Village is no exception having been owned by the same advisor for over 20 years. The depth of interest at strong pricing demonstrates investor’s continued interest and conviction in the retail space,” Lvovich said.
|
|
 Return to the previous page
|
|
|
|
|
Printer-friendly Version
Email an Associate
