Orange County Shopping Center Sells For $12.250 Million

SANTA ANA, Calif. - June 19, 2014 - PRLog -- SANTA ANA, Calif.—June 19, 2014—The Cabrillo Park Shopping Center, a 72,500 square-foot grocery-anchored shopping center, was sold for $12.250 million. The seller, Hector Regner Properties – Cabrillo Park I, LLC, was represented by Randy Dalby of Lee & Associates San Diego North. (http://resources.lee-associates.com/asp/user/website/officeprofile.asp?officeid=4997)

Located at 1710-1730 E. 17th Street in Santa Ana, Calif., the center is 95 percent occupied and anchored by Superior Grocers. Other tenants include T-Mobile, Sally Beauty Supply, United Dental Care, Little Caesar’s and 4G Wireless.

“Superior Grocers, which anchors the center, exercised its purchase option,” said Dalby. “The market, which services the Latino community, is highly successful and is strategically located in the heart of Santa Ana.”

The buyer, Palmdale Avenue S, LLC, was represented by Randy Ibara of Southern Pacific Investments.

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About Lee & Associates

Celebrating more than 35 years of leadership excellence in commercial real estate, Lee & Associates is the largest broker-owned firm in the country with 49 locations across the nation including California, Arizona, Florida, Georgia, Idaho, Illinois, Indiana, Kansas, Maryland, Michigan, Missouri, Nevada, New Jersey, New York, South Carolina, Texas, and Wisconsin. With more than 750 brokers nationwide, Lee & Associates provides a wide range of specialized commercial real estate services on a local, regional and national level. Additional information is available at www.lee-associates.com.