Mission Viejo 25,000-SF Retail Center Sells for $10M
SRS Real Estate Partners’ Investment Properties Group (IPG) has completed the $9.8 million sale of Marguerite Plaza, a 25,000-square-foot, multi-tenant retail property in Mission Viejo, CA. The 2-acre property is 98% occupied by Salon Centric, Core Power Yoga, Zenko Sushi, among others. The buyer was a Southern California-based private investor.
“This asset presented a rare opportunity for an investor to own a multi-tenant retail property in the master-planned city of Mission Viejo in south Orange County,” said SRS’ Matthew Mousavi, who represented the seller, a private group of investors, along with the firm’s Patrick Luther. “We aggressively marketed the asset and secured a high number of offers. Well-located, infill retail centers continue to see strong demand from investors.”
Marguerite Plaza is one mile away from The Shops at Mission Viejo, and is situated at a highly visible location adjacent to Interstate 5 and near Mission Hospital and Saddleback College.
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Mark comes to ConnectCRE with an extensive background as a business and news reporter in San Francisco radio, as well as 35 years as a traffic reporter on several stations including KGO, KNBR, KCBS and KFRC. As a business reporter, Mark covered the tech world in Silicon Valley where he became familiar with real estate transactions in the hot Bay Area marketplace. He attended San Jose State University with a BA in Radio and TV Broadcasting and currently resides in the Lake Tahoe area where he gets to frequently enjoy all of his favorite activities: Golfing, Fishing, Hiking and Skiing.
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