ValueRock Realty Partners has purchased the former Macaroni Grill restaurant building — a vacant 7.9k sf retail pad building on 1.34 acres — at Aliso Viejo Town Center in Aliso Viejo, for $5.3 mil ($671/sf). Aliso Viejo Town Center is a 380k sf community center anchored by Ralphs, CVS Pharmacy, Staples, TJ Maxx, HomeGoods, PetSmart, and Regal Cinemas.
The freestanding, single-tenant retail pad building, constructed in 1997, sits prominently at 26641 Aliso Creek Rd, positioned at the signalized intersection of Aliso Creek Rd and Enterprise, which sees approximately 48,000 cars per day.
ValueRock has been growing its portfolio of commercial properties in Aliso Viejo. These include ValueRock’s near completion of the remodel and re-tenanting of the former Lowe’s building, which will include Tesla and 99 Ranch Market.
With a 97% occupancy rate, Aliso Viejo Town Center is home to national and regional tenants, including Advance Auto Parts, Barnes & Noble, Dollar Tree, Hoag Health Center, O’Reilly Auto Parts, Chick-fil-A, Raising Cane’s Chicken Fingers, Café Rio, Chase Bank, Chili’s Grill & Bar, Del Taco, Nekter Juice Bar, Opah, Panda Express, Sgt. Peperoni’s Pizza, Subway, The Habit Burger, Urban Plates, and Wahoo’s Fish Taco.
Aliso Viejo Town Center ranks in the top 2% nationwide for foot traffic, according to Placer.ai. Among its anchor tenants, CVS Pharmacy ranks #104 out of 7,096 nationally (98th percentile), Ralphs ranks #3 out of 46 within a 30-mile radius (95th percentile), TJ Maxx ranks #67 out of 1,123 nationwide (94th percentile), and Regal Cinemas ranks #47 out of 364 nationwide (87th percentile).
Aliso Viejo Town Center is ideally located off CA-73 (100,000 cars per day), connecting South Coast Metro/Newport Beach to South Orange County, and is positioned at Aliso Viejo’s primary thoroughfares of Aliso Creek Road and Pacific Park Drive (60,000 cars per day).
Sean Cox, Bill Asher and Kevin Fryman with Hanley Investment Group Real Estate Advisors represented both the buyer and the seller, a private investor from Southwest Florida.
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