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Center Sale Represents Unique Infill Redevelopment Op

A private L.A.-based investor’s purchase of Anaheim Lincoln Shopping Center, a 72,950-square-foot neighborhood center here, offers a chance to remerchandise an already-flourishing center with all new lessee at market rents, one source says.

Kyle Miller Miller: “We had offers from groups that were looking at it from a residential development standpoint—maybe a mixed-use element with a mix of apartments/condos/retail—but as far as we know, this buyer is content with keeping it retail.”

ANAHEIM, CA—A private L.A.-based investor’s purchase of Anaheim Lincoln Shopping Center, a 72,950-square-foot neighborhood center here, offers a chance to remerchandise an already-flourishing center with all new lessee at market rents, Savills Studley senior managing director Kyle Miller says. Miller and Bill Bauman, EVP, handled the $18.5-million sale—with a 1.37% cap rate on the 2016 ground rent—on behalf of the buyer and seller, a private partnership.

Anaheim Lincoln Shopping Center Anaheim Lincoln Shopping Center is anchored by a Vallarta Supermarket.

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Carrie Rossenfeld

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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