August 8, 2017
A private investor acquired the fee interest in Anaheim Lincoln Shopping Center for $18.5 million.
Located on Lincoln Avenue, the 72,950-sf neighborhood shopping center traded at a 1.37% cap rate. It is encumbered by a short-term ground lease, with just under four years of term remaining.
A private partnership sold the center, which is anchored by Vallarta Supermarket.
“Anaheim Lincoln Shopping Center is a unique infill redevelopment opportunity, where the investor will inherit the improvements at the expiration of the ground lease and have the opportunity to remerchandise an already flourishing center with all new leases at market rents,” says Kyle Miller, a senior managing director with Savills Studley’s National Retail Services Group.
Miller brokered the sale, along with Bill Bauman, an executive vice president with Savills Studley.
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