GARDEN GROVE, CA—Tom Nguyen with NAI Capital's Orange County office represented the buyer, N. D. Dinh Tran Trust, in the purchase of the Saigon Plaza, a 33,074 sqare foot shopping center on 2.41 acres of land located at 10320 Westminister Avenue in Garden Grove.
The seller was Westgrove Plaza, and the value of the sales transaction was $8.5 million.
The Saigon Plaza retail center, positioned on 2.41 acres of land, is unique in its central location in the "Little Saigon" business district of Orange County - a business/retail area serving the largest population of Vietnamese outside of Vietnam. The property includes an L-shaped one-story building was built approximately in 1965 plus a two-story building which was built in 1986.
Nguyen, broker with NAI Capital and member of the Asia Pacific Group, is a leading specialist in ethnic Asian shopping centers, as well as, serving Asian investors, tenants and landlords in retail, industrial, office and land transactions.
“This property is a value-added investment with low current rents in a strong rental area. I represented the buyer who put over 50% down to finance the purchase. This is yet another sign of the demand for this type of center which at the time of purchase was 100% occupied,” said Nguyen.
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