Gateway Center Trades to DJM Capital for $39.5M

Gateway Center, a 79,001-square-foot retail destination in Mission Viejo, recently sold for $39.5 million. DJM Capital, a San Jose-based investor with $2 billion AUM, acquired the asset.

Completed in 1979, Gateway Center is leased to a synergistic mix of national and local tenants. Gateway Center is housed on 7.35 acres at 23972-24042 Alicia Pkwy. amid several master-planned communities. The center is positioned on the going-home side of Alicia Parkway where it intersects with Jeronimo Road, exposing the property to more than 78,000 vehicles a day. This highly visible and accessible location is less than two miles from the I-5 Freeway within an infill location of more than 163,200 residents earning $139,460 household income in a three-mile radius.

JLL marketed the property on behalf of the seller, Gerrity Group LLC. Additionally, working on behalf of the new owner, JLL secured the $28.9 million three-year floating-rate acquisition loan. The JLL team representing the seller was led by Gleb Lvovich, Bryan Ley, Geoff Tranchina and Daniel Tyner.