Three Prime Retail Parcels Sold in South Orange County
Three parcels in one prime area, along a retail corridor, in South Orange County have sold for $14.068 million, according to a news release. Faris Lee Investments, a leading retail advisory, and investment sales firm, completed the sale of La Paz Shopping Center.
The area of the sale is seen as a high-profile locale that is already anchored with a drug retailer (Walgreen’s). The area totals 35,302 square feet across those parcels.
Scott DeYoung, Senior Managing Director, Jeff Conover, Managing Principal, and Chris DePierro, Managing Director at Faris Lee Investments represented the seller, Carson Companies, a Newport Beach-based family office, and the buyer, a private investor who recently moved to Orange County, in the transaction.
“This was a rare opportunity to acquire a market and drug anchored center in the master planned community of Laguna Niguel. La Paz Shopping Center is on three separate parcels, which gives the Buyer the flexibility to sell or finance one or all parcels at any time” said DeYoung.