Joe Miller of the Anaheim office of CBRE, who brokered the transaction along with Brian Bethea of CBRE's Newport Beach office, notes that the center at 1159-1189 North Euclid Ave. occupies more than 1.7 acres and provides ease of management for the new owners. The center is occupied by only nine tenants, he explains, with flexible unit sizes and a convenient location just off the Riverside (91) freeway in one of the fastest growing areas in Orange County. The area boasts retailers such as Walgreens, Old Navy, Ross stores, Ralphs, Jack in the Box and Mimi's restaurant.
Like so many of today's buyers, Miller says, the new owners of the center benefited from the favorable financing market, which increases the attractiveness for investors on this and similar projects." The seller had owned the property for a little less than a year and a half.
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