The seller, Wall Street-based NewVest Capital Corp., acquired the property several years ago, as part of a larger package of real estate assets. The buyer, KTM Investment Group, has purchased the property as an income investment. Ed McKeegan of MEI Real Estate Services represented the seller and Dennis Dillon, also of MEI Real Estate Services, represented the buyer.
The deal is the second Orange County transaction involving an automotive service center to occur this week. As reported yesterday by GlobeSt.com, a 14,425-sf service center and repair shop in Lake Forest was sold for $3.2 million to the Nixon Family Trust. The seller, Barrett Heritage, was represented by Edward Karagozian Jr. of Collins Commercial Corp. Jesse James of Brokers West represented the buyer.
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