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Family Trust Pays $3.7 Mil for Retail Center Next to Major Freeway

TUSTIN, CA-A Newport Beach-based family trust purchased the Tustin Freeway Center and has since allowed the trustee to open an antique store in the complex.

By Joel Cone | Updated on January 30, 2001

TUSTIN, CA-The Frey Living Trust of Newport Beach has purchased the 35,151-sf Tustin Freeway Center in a transaction valued at $3.7 million from Shook & Brown Inc., a San Juan Capistrano-based investment group.

Built in 1985, the retail center backs the Santa Ana Freeway. Located at 14051-14061 Newport Ave., the building was 60% vacant at the time of sale. With the deal completed, the trustee for the family trust has opened an antique store that takes up 30% of the center’s space.

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