A private investor has paid $3.4 million for the shopping center, which is located at 10877-10911 Los Alamitos Blvd. The property stands on Los Alamitos and Katella, which is a major corner of the city, according to Grace Yoon, who brokered the deal. The complex, which is anchored by Radio Shack, is currently 100% leased.
Yoon of Colliers Seeley International represented both Continental Investment Group and the buyer, Jack Ernandez. "Los Alamitos has a strong demographic base appealing to retailers and is considered an affluent community," Yoon says.
Another private investor recently snatched up a Fountain Valley retail complex. That property, which was sold by Turner Development Corp., fetched $1.1 million. The capitalization rate for the new unnamed owner is said to be 9.5%. Known as Bushard Center, the shopping center encompasses 9,566 sf. Fully occupied at the time of sale, it consists of two buildings, which are located at 16919 and 16953 Bushard St.
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