NKF Capital Markets Closes Sale of OC Retail Center
- Feb 05, 2018
NKF Capital Markets has arranged the sale of Rusty Leaf Plaza, a retail center in Orange, Calif., for $31.8 million. NKF worked exclusively on behalf of the seller, CCF PCG Orange LLC. The shopping center traded to Inland Real Estate Acquisitions LLC.
Located at 2512 E. Chapman Ave., the asset is near Freeway 55 and Interstate 5. The area is densely populated, with approximately 580,000 people living within a 5-mile radius. The median household income is $66,674. Since 2017, Rusty Leaf Plaza has been anchored by Target. Other tenants include a mix of medical, fast food and retail service providers.
“The center’s new lease with a daily-needs credit anchor along with its affluent and dense surrounding demographics checks several boxes that investors are looking for in retail acquisitions today,” said Charles Osbrink, executive managing director at NKF, in prepared remarks.
NKF also recently arranged the sale of an office tower in Irvine, on behalf of Ocean West Capital Partners. The asset sold for $120 million.
Image courtesy of Google street view