Jim Dillavou Dillavou: “The center remains an excellent location for a neighborhood center and simply needed a new anchor and an overall aesthetic upgrade for it to once again become a vibrant shopping destination in the community.”

ORANGE, CA—Urban-located small-format Target stores create a brick-and-mortar location with flexible merchandising to complement and augment the local demographic as well as support Target’s growing e-commerce business, Paragon Commercial Group LLC principal Jim Dillavou tells GlobeSt.com. The firm, has sold Rusty Leaf Plaza, a small-format-Target-anchored neighborhood shopping center at 2512 E. Chapman Ave. here.

The sale, which occurred within 15 business days following execution of the purchase agreement, is the latest illustration that well-located retail shopping centers with strong anchor tenants remain in high demand notwithstanding generic retail headwinds impacting non-core retail centers.

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Carrie Rossenfeld

Carrie Rossenfeld is a reporter for the San Diego and Orange County markets on GlobeSt.com and a contributor to Real Estate Forum. She was a trade-magazine and newsletter editor in New York City before moving to Southern California to become a freelance writer and editor for magazines, books and websites. Rossenfeld has written extensively on topics including commercial real estate, running a medical practice, intellectual-property licensing and giftware. She has edited books about profiting from real estate and has ghostwritten a book about starting a home-based business.

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