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California  + Orange County  + Retail  | 

Starbucks-Anchored Strip Center Sells in 1031 Exchange

Hanley Investment Group Real Estate Advisors closed the sale of Rancho Ortega Plaza, a two-story, 23,122-square-foot strip center anchored by Starbucks in San Juan Capistrano. The property sold for $9.2 million to a private 1031 exchange buyer in a seven-day escrow.

EVP Kevin Fryman and president Ed Hanley represented the seller, a private investor based in Orange County. The buyer, a Los Angeles-based private investor, was represented by Michael Asarch of Asarch Commercial Endeavors in Valencia.

“This was a rare South Orange County Starbucks-anchored strip center,” said Fryman. “We generated an offer from a private 1031 buyer within one day of launching marketing and closed escrow within 30 days, including a two-day due diligence period. We structured seller financing to support the expedited closing timeline.”

Located at 27211-27231 Ortega Hwy., Rancho Ortega Plaza was 89% occupied at the time of the sale, offering the buyer value-add potential through the lease-up of the remaining first-floor vacancy.

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Hanley Investment Group

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).

  • ◦Sale/Acquisition
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