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4/15/21
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Stream Realty Partners acquired a 49.3k sf, grocery-anchored shopping center in Santa Ana. The property, located at 2360 N Tustin Ave, had previously been owned by two private owners for the past 50 years.
Stream acquired both the leasehold and the fee simple interests in the property, at which Stater Brothers has been a tenant since its inception. Stream also acquired the 0.78 acres of adjacent land to the center, where two residential units currently reside, for future development.
As a result of Stream’s purchase, Stater Brothers has renewed its 25.6k sf lease and Del Taco has renewed its 1.9k sf lease at the center, which is scheduled to undergo several upgrades in the coming quarter, including façade renovations, new signage and landscaping. Del Taco will also begin interior renovations in second quarter 2021.
According to Stream Senior Vice President Donald Ellis, the firm plans to improve the center, add value long-term for its tenants and create a true amenity destination for the community.
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