Retail Storefront Lists for $3.7M and Sells for $4.2M
A 3,993-square-foot retail storefront in Costa Mesa recently sold for $4.2 million to a private investor. The property is located at 2075 Harbor Blvd. within Orange County’s prestigious Airport submarket, close to The Triangle, South Coast Plaza and John Wayne Airport. It is in a prime retail cannabis Green Zone within Costa Mesa, which, with the adoption of Measure Q, the site would be eligible for a retailer-storefront commercial cannabis permit.
NAI Capital Commercial’s Steve Liu and Andrew Batcheller represented both the seller, Red-E-Rentals, and the buyer in the transaction. The sale price totaled $1,051 per square foot.
Red-E-Rentals, a local contractor equipment rental company, occupied this location since the mid-1970s, says Liu.
“We had the property listed for $3.7 million and it sold for $4.2 million, indicating the tremendous interest in this asset,” says Batcheller. “The buyer has applied for cannabis conditional use permit with plans to open a dispensary on the site.”
- ◦Sale/Acquisition
