The Small Space Marketplace

List Your Space

Find Space

Home About Us Executive Subscriber Membership RENTV Conferences Newsletter Contact Us Advertise
November 14, 2024
 Search RENTV
   Go!
 The REview
 News
News Home Page
Southern California
Northern California
Pacific Northwest
Texas/Southwest
Retail
Multifamily
Financing
Prop. Management
Archives
Press Releases
 R. E. Marketplace
Service Providers
JobWorks
Property Spotlight
 RENTV  Conferences
Subscriber Login:
  
Email      
    Go!
Password      
Forgot Password?



ORANGE COUNTY NEWS
Printer-friendly Version   Email an Associate
Ground Lease for South OC Retail Center Trades in $14 Mil Buy

3/14/23

The ground lease for Lake Forest Marketplace, a 111.2k sf, multi-tenant retail property in Lake Forest, has sold in a $14.2 mil transaction. The asset, located at 23771 to 23841 El Toro Rd, was purchased by an OC-based private investor.

Lake Forest Marketplace is situated on just over 10 acres and is fully occupied by tenants including 99 Cents Only, Guitar Center, Island Pacific, Harbor Freight Tools, Bank of America, Del Taco, and Dunkin’ Donuts, among others.

The property is situated within a dense retail corridor and is directly across the street from several shopping centers including The Arbor, The Orchard and Twin Peaks Plaza. Other nearby retailers include Home Depot, PetSmart, Ralphs, Big 5 Sporting Goods, ALDI and Nordstrom Rack to name a few. The site is also directly off the 5 Freeway

John Redfield with SRS Real Estate Partners’ Investment Properties Group represented the seller, La Caze Development, a SoCal-based developer. The buyer was repped by Jon Davis from SVN.

According to Redfield, this was a complex transaction that required an assumption of the leasehold position of the ground lease, a loan assumption with additional loan proceeds and modifications, and closing within the parameters of the buyer’s 1031 exchange timeline.





Return to the Archive page


 


 
 


 
 



Home | About Us | Newsletter | Contact Us | Executive Subscriber Membership | Executive Subscriber Home | Advertise
Southern California | Northern California | Pacific Northwest | Southwest | Retail | Multifamily | Financing | Property Management
Archives | Press Releases | Service Providers | JobWorks | Property Listings

Copyright © 2024 by RENTV, All Rights Reserved
Website designed by Regency Web Services, Inc. and powered by Lightning Media