In the Garden Grove transaction, Newport Beach-based investor Alata Inc. acquired a new, fully occupied retail center at 11001 Chapman Ave. in a 1031 exchange. Jeff Demorest of the Newport Beach office of GVA Daum, who represented the buyer, reports that Alata bought the Mediterranean-styled center from Makena Great American of Tustin, the developer/broker of the shopping center, which represented itself. The single-story center is anchored with long-term triple net leases by Starbucks and Subway.
In the Riverside transaction, Ximeno Associates acquired the single-tenant property at 1691 University Ave. from the Southland Cos. Brad Umansky of Sperry Van Ness represented the seller, with Ken Robertson of Treadwell Properties Inc. representing the buyer.
© Arc, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to TMSalesOperations@arc-network.com. For more information visit Asset & Logo Licensing.