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Orange County retail pricing is at all-time highs. The Aliso Creek Shopping Center in Laguna Beach has set a new price-per-square-foot record for a grocery-anchored retail property in Orange County. LaSalle Investment Management sold the 49,149-square-foot, fully leased community shopping center on Pacific Coast Highway. While final sales price was not disclosed, the deal is indicative of the strong pricing trends and demand for retail properties in Orange County.

“The irreplaceable coastal location, strong tenant sales and scale in a market with limited opportunities,” Gleb Lvovich, a managing director at JLL that represented the seller in the deal, tells GlobeSt.com. “Properties like this don’t trade very often, and in fact, the last trade of this size in Laguna Beach for retail was this property over 20 years ago.” JLL managing director Bryan Ley and director Daniel Tyner also represented the seller.

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Kelsi Maree Borland

Kelsi Maree Borland is a freelance journalist and magazine writer based in Los Angeles, California. For more than 5 years, she has extensively reported on the commercial real estate industry, covering major deals across all commercial asset classes, investment strategy and capital markets trends, market commentary, economic trends and new technologies disrupting and revolutionizing the industry. Her work appears daily on GlobeSt.com and regularly in Real Estate Forum Magazine. As a magazine writer, she covers lifestyle and travel trends. Her work has appeared in Angeleno, Los Angeles Magazine, Travel and Leisure and more.

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