Parker & Associates, Inc. Sells Orange County Shopping Center in Lake Forest, CA

April 6, 2009 - PRLog -- Parker & Associates, Inc. Represents Seller in the Sale of a 122,540
Square Foot Neighborhood Shopping Center in Lake Forest, CA

LAGUNA HILLS, CALIF. (April 6, 2009) – Parker & Associates, Inc., a seasoned boutique retail brokerage company, has completed the sale of The Shops at Lake Forest in Lake Forest, CA.  Unlike other centers that Parker & Associates, Inc. has sold in the local market, such as the Marguerite Shopping Center that sold for $12,500,000 at a 6% cap rate, this center faced a long-term ground lease.

This 122,540 square foot neighborhood shopping center is located at 23812-24422 Rockfield Boulevard in the city of Lake Forest, just off the El Toro Road exit of the 5 Freeway, which falls in the City of Lake Forest’s Redevelopment Project Area of 856 acres. This center that is anchored by Ross, CVS pharmacy and Petco, is 95 percent occupied.

Dan Parker, president of Parker & Associates, Inc., represented the seller, DRB Shops, LLC in the transaction.  At the request of seller, the property was not put on the open market, but rather, was exposed to a select number of investors. The buyer, George Holdings Lake Forest LLC, was represented by Terry Parker of Parker Commercial Brokerage Company, Inc., whose office is located in Lake Forest, CA.

“Buyers have returned to basic fundamentals when evaluating acquisitions.  The Shops at Lake Forest’s excellent Orange County location and strong tenant mix brought healthy interest from seasoned investors, and will truly be a pride of ownership property,” stated Dan Parker.

“The commercial real estate market faces a challenging environment, but deals can still be closed.  I look forward to working with owners who desire to sell, as well as those looking for the newly found acquisition opportunities that are being driven by the current economic conditions,” Parker added.

Prior to selling the center, Parker & Associates, Inc. handled the marketing and leasing of the property, which resulted in a stronger tenant mix coupled with healthy rental rate increases to ownership.    

About Parker & Associates, Inc.
Parker & Associates, Inc. is a commercial brokerage firm specializing in landlord and tenant representation throughout the California retail market.  As a boutique brokerage firm, it provides clients with uncompromised services with a focus on quality service versus volume.  Expert knowledge of the retail marketplace, coupled with well-established relationships with major landlords, identifies Parker & Associates, Inc. as a company with key influence in achieving successful transactions.

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Parker & Associates, Inc. is a commercial brokerage firm specializing in landlord and tenant representation throughout the California retail market. As a boutique brokerage firm, it provides clients with uncompromised services with a focus on quality service versus volume. Expert knowledge of the retail marketplace, coupled with well-established relationships with major landlords, identifies Parker & Associates, Inc. as a company with key influence in achieving successful transactions.