Anchored by Stater Bros. Market, the complex encompasses 19,530 sf. Other tenants here include Gymboree Play and Music, a dry cleaners business, a pet clinic and a couple of restaurants. The property stands at 18533-18549 Yorba Linda Blvd.
George Arce of Centers Dynamic acted on behalf of the Northern California-based buyer, Warren Wincorn. The seller, Yorba Linda East Partners Ltd., was represented by Nick Coo and Richard Walter of Faris Lee Investments. The transaction closed on "pro-forma income with a rent guarantee," according to the Faris Lee brokers.
The uncertain state of the current economy has investors clamoring for "safe" real estate investments like grocery-anchored centers. Industry experts say grocery-anchored properties tend to be a safe bet during economic downturns because they provide necessary goods, like food and medicine, which consumers will buy regardless of the recession.
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