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California  + Orange County  + Retail  | 

Shopoff Divests Mission Viejo Retail Center for $15M

Irvine-based Shopoff Realty Investments sold the 27,000-square-foot Los Alisos Village shopping center in Mission Viejo for $14.5 million. The buyer was reportedly Anaheim-based Harbor Asset Management.

Shopoff purchased the neighborhood shopping center at 22922 Los Alisos Blvd. in 2015 and completed a full renovation. Improvements included new facade, roofs, resurfacing and restriping the parking lot, landscaping, tenant signage and a new monument sign.

Shopoff Realty Investments’ William Shopoff says, “By bringing this center back to life we were able to add tremendous value to this asset that ultimately attracted a qualified buyer, allowing us to capture appreciation.”

Not included in the sale was a parcel that includes a 4,978-square-foot building currently leased to Village Montessori, which is planning to close on the facility in early 2021.

Shopoff added, “While there is much talk of retail fading as consumers move to online shopping, neighborhood retail centers like Los Alisos Village offer food and other essential items that are tough to replace with online ordering.”

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About Dennis Kaiser

Dennis Kaiser is Vice President of Content and Public Relations for Connect Commercial Real Estate. Dennis is a communications leader with more than 30 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect’s client content operations and is involved in a range of initiatives ranging from content strategy, message development, copywriting, media relations, social media and content marketing services. In his most recent corporate communications roles, he led a regional public relations effort across Southern California for CBRE, played a key marketing role on JLL’s national retail team, and was responsible for directing the global public relations effort at ValleyCrest, the nation’s largest commercial landscape services company. In addition to his vast commercial real estate experience, Dennis has worked on communications and launch strategies for a number of residential projects such as Disney’s Celebration in Florida, Ritter Ranch in Palmdale California (7,200 homes, 22,000 acres), WaterColor in Florida and PremierGarage in Phoenix. Dennis’s agency background included firms such as Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, BoyScouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and Thunderbirds Charities.

  • ◦Sale/Acquisition