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5/09/22
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La Paz Village, a 54.6k sf neighborhood shopping center in Laguna Hills, traded for $23.5 mil, or $430/sf. The center opened in 1974 and was refurbished in 2012. The tenant roster reflects the everyday living needs of the community.
La Paz Village is located at the western intersection of I-5 and La Paz Rd, near the 5, 405, and 73 freeways, which carry approximately 315,000, 256,000, and 50,000 vehicles per day, respectively. Mission Viejo High School and La Paz Middle School are a quarter-mile away. There are 60,000-plus employers within a 20-minute drive time.
Bill Rose, Steven Siegel, Glen Kunofsky and Anthony D’Ambrosia with Marcus & Milliuchap represented the seller, a consortium of private investors. Rose also procured the buyer, Cape Point Development.
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