June 14, 2017 Comments Off on Coastal MXU Asset Trades in Dana Point Views: 668 California News, Orange County

Coastal MXU Asset Trades in Dana Point

Faris Lee Investments has completed the $6.6 million sale of La Plaza Pacifica, an approximately 14,900-square-foot, 95% occupied multi-tenant retail and office property in Dana Point, CA. Faris Lee’s Jeff Conover represented the Orange County-based seller, Trowbridge Vaughen Vivos Trust, as well as the local buyer, Raintree Evergreen LLC. The property sold at a cap rate of 5.5%, and a price-per-square-foot of $463.

Built in 1990, the property is located at the intersection of Golden Lantern and Pacific Coast Highway at 34052 La Plaza Drive. It is within the Downtown Plaza, which includes a mix of retail, restaurants, and an outside amphitheater used for events and concerts. Additionally, the property is within the newly revitalized Lantern District, which has several mixed-use retail and apartment projects under construction.

Conover says, “There is a high barrier to entry for coastal commercial property ownership in Southern California. La Plaza Pacifica defines legacy property for the investor.”

Connect With Faris Lee’s Conover

Subscribe to Connect Daily California

For comments, questions or concerns, please contact Dennis Kaiser

Tags: , ,

Comments are closed.