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Brea Strip Center Trades for $21.1M

Brea Imperial Shopping Center, a 43,243-square-foot retail center in Brea, CA, traded hands for $21.1 million. The transaction closed at a 4.95% cap rate, representing one of the lowest in Orange County this year for a strip center.

The 5-acre site was originally developed in 1980, and remodeled in 1993. The property is slated to undergo an extensive remodel and re-merchandising plan, encompassing higher-end food and service tenants, and is expected to drive traffic and cater to the market’s high-income demographics.

CBRE’s Arthur R. Flores represented the seller, a locally-based family. Lee & Associates’ Henry Hong represented the buyer, an Orange County-based partnership.

Flores says, “Brea Imperial Center was only 75% occupied at the time of sale, appealing to savvy investors who understood the excellent real estate fundamentals of the asset, the strong trade area demographics and the exceptional retail location.”

For comments, questions or concerns, please contact Dennis Kaiser


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About Dennis Kaiser

Dennis Kaiser is Vice President of Content and Public Relations for Connect Commercial Real Estate. Dennis is a communications leader with more than 30 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect’s client content operations and is involved in a range of initiatives ranging from content strategy, message development, copywriting, media relations, social media and content marketing services. In his most recent corporate communications roles, he led a regional public relations effort across Southern California for CBRE, played a key marketing role on JLL’s national retail team, and was responsible for directing the global public relations effort at ValleyCrest, the nation’s largest commercial landscape services company. In addition to his vast commercial real estate experience, Dennis has worked on communications and launch strategies for a number of residential projects such as Disney’s Celebration in Florida, Ritter Ranch in Palmdale California (7,200 homes, 22,000 acres), WaterColor in Florida and PremierGarage in Phoenix. Dennis’s agency background included firms such as Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, BoyScouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and Thunderbirds Charities.

  • ◦Sale/Acquisition
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