March 28, 2016
LBG Real Estate Companies (LBG) sold a prime, recently-redeveloped retail center in Huntington Beach to an unnamed private Orange County-based investor for $18.5-million. The Southern California-based retail investor sold the 1.96-acre site that contains approximately 24,000 square feet of building area.
The 100-percent stabilized center is located at 10026 Adams Ave. and 20002 to 20052 Brookhurst St. It includes such retailers as PetSmart, US Bank, Phenix Salon, Tenet Healthcare, and Orangetheory Fitness.
LBG handled the leasing in-house, since acquiring the property in February 2015. Hanley Investment Group’s Ed Hanley, Bill Asher and Eric Vu handled the off-market transaction.
Asher says the “sale represents one of the largest non-grocery-anchored retail sales in the city of Huntington Beach in the last 10 years.”