SANTA ANA, CA—In a GlobeSt exclusvie, Lee & Associates of San Diego says the Cabrillo Park Shopping Center, a 72,500 square-foot grocery-anchored retail property, has sold for $12.25 million.
The seller, Hector Regner Properties—Cabrillo Park I, LLC, was represented by Randy Dalby of Lee & Associates San Diego North.
Located at 1710-1730 E. 17th Street in Santa Ana, the center is 95% occupied and anchored by Superior Grocers. Other tenants include T-Mobile, Sally Beauty Supply, United Dental Care, Little Caesar’s and 4G Wireless.
“Superior Grocers, which anchors the center, exercised its purchase option,” said Dalby. “The market, which services the Latino community, is highly successful and is strategically located in the heart of Santa Ana.”
The buyer, Palmdale Avenue S, LLC, was represented by Randy Ibara of Southern Pacific Investments.