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11/01/22
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Marguerite Plaza, a 25k sf, multi-tenant retail property in Mission Viejo, was acquired by a SoCal-based private investor in a recent $9.8 mil ($392/sf) transaction. The property sits on 2.07 acres at 28892 Marguerite Pkwy, south of Avery Pkwy and adjacent to the east side of I-5.
Built in 1974 with an extensive remodel in 2016, the property is 98% occupied by Salon Centric, Core Power Yoga, GolfTec Enterprises, and Zenko Sushi, among others. Marguerite Plaza is one mile away from The Shops at Mission Viejo, a retail center with more than 1 msf of retail space, and is near Mission Hospital and Saddleback College.
Matthew Mousavi and Patrick Luther with SRS Real Estate Partners’ Investment Properties Group represented the seller, a Southern California-based private group of investors. The buyer was repped by Richard Kim with Compass. Project leasing at the property was handled by SRS’ Terrison Quinn and Tony Vuona.
“This asset presented a rare opportunity for an investor to own a multi-tenant retail property in the affluent, master-planned City of Mission Viejo in south Orange County. This is one of the most coveted regions in Southern California to own commercial real estate due to the master-planned, high barrier to entry nature of this market,” said Mousavi.
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