Multi-Tenant Corona del Mar Retail Sells Above Asking Price

Coastal Commercial and Marcus & Millichap arranged the $13.7-million sale of 2515 E. Coast Highway, a prominent multi-tenant retail property located in Corona del Mar. The transaction was represented by Nathan Holthouser of Coastal Commercial and Ron Duong of Marcus & Millichap.

The offering generated significant interest from the Orange County investment community, attracting more than 10 offers and multiple rounds of competitive bidding. Prospective buyers consisted primarily of high-net-worth private investors with ties to Orange County. Ultimately, the property sold for $700,000 above its asking price.

“The response to this offering was exceptional, but I think sophisticated investors quickly recognized the underlying value of the real estate,” said Holthouser. “You have incredible frontage along Pacific Coast Highway, approximately 20 on-site parking spaces — which is extremely difficult to replicate in Corona del Mar — and a collection of mostly smaller commercial spaces that lend themselves well to maximizing rents over time.”

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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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