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.”
Lisa Brown has decades of experience in corporate communications and marketing management with organizations including Coldwell Banker Residential, Grubb & Ellis, Marcus & Millichap, NAIOP, SIOR and ALM.
In those positions, she worked in conjunction with chief executive officers and chief marketing officers to create corporate messaging, cohesive branding standards, strategic marketing plans and thought pieces. Brown is a frequent speaker at industry events and an editing adjunct professor for an online course. She has a master’s degree in mass communications from San Jose State University.