Break-Up Strategy Maxes Retail Deals

LA HABRA, CA-Organizing a Union Bank-occupied property sale as a single-tenant transaction and arranging carry-back financing for the shops property sale within La Habra Town Center helped maximize profitability for the seller, Dennis Vaccaro, senior managing director with Faris Lee Investments, tells GlobeSt.com. As GlobeSt.com reported exclusively earlier today, the two properties within La Habra Town Center here have been sold to two different buyers as part of a break-up strategy by owner/developer La Habra Town Center LLC of Newport Beach, CA; Vaccaro and senior managing director Nicholas Coo represented the seller.

The properties, located at 1820, 1950 and 1970 W. Whittier Blvd., include a 5,650-square-foot Union Bank and a 15,179-square-foot shops property containing tenants Starbucks, Quiznos and Cold Stone Creamery.