Asana Partners Nabs Costa Mesa Retail Center

CBRE arranged the sale of Westport Plaza & Square, a 39,334-square-foot shopping center at 369 E. 17th St. in Costa Mesa, for $25.7 million. CBRE’s National Retail Partners-West team, led by Jimmy Slusher along with Megan Lanni and Shaya Northrup, represented both the seller, Newport Beach-based Space Investment Partners, and the buyer, Asana Partners.

“Westport Plaza & Square enjoys one of the premier retail locations in Orange County,” said Lanni. “Surrounded by a vibrant mix of national and specialty grocers, upscale dining, stylish boutiques, and affluent demographics, the property location serves as its anchor and provides a competitive edge.”

Built in 1975 and renovated in 2002 and 2018, the center encompasses 13.73 acres of leased land and benefits from more than 535 feet of linear frontage along East 17th Street. Westport Plaza & Square is subject to a long-term ground lease through 2079, with a total remaining term of just over 54 years including options.

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CBRE's Slusher

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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