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Costa Mesa MXU Claimed by Space Investment Partners
Irvine-based Space Investment Partners acquired Back Bay Center, a 58,000-square-foot mixed-use retail and office property in Costa Mesa, CA for $24.5 million. The asset located at 2651-2675 Irvine Ave. is set to undergo a capital improvement program to renovate the property and strategically enhance the tenant mix for the local community.
Space Investment Partners’ Ryan Gallagher says, “Back Bay Center is representative of retail that is successful because it meets the needs of the local community. We are excited about this property and its potential, and have a very special vision to make it even more suited for the surrounding high-end communities of Newport Beach and Costa Mesa which it serves.”
Back Bay Center, built in 1980, is 98% leased with successful tenants that include specialty grocer Irvine Ranch Market, which has been there for nearly 40 years, along with a number of medical services such as acupuncture and cryotherapy, as well as beauty and fitness.
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Sale/Acquisition




