Dixie Walker of the Newport Beach office of Grubb & Ellis says a Glendale-based private investor doing business as GGF LLC has purchased the center from Newmark Merrill Cos. of Woodland Hills. Walker and Charley Simpson, also of the Newport Beach office of Grubb & Ellis, represented both the buyer and the seller.
The Huntington Collection is a neighborhood retail center that is located at 16672 Beach Blvd., at the northeast corner of Beach Boulevard and Terry Drive, just south of the 405 Freeway. The property was 100% leased at the time of the sale. The property has 10 tenants, including Marshall's, 99 Cents Only Store and The Good Guys. The transaction is the latest in a series of sales of fully leased retail centers in Orange County, where, brokers say, investor demand for retail properties remains robust because of relatively strong retail sales and attractive cap rates.
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