The transaction involves the Granary Square Shopping Center,which is located on McBean Parkway, just east of Interstate 5 inValencia. Built in 1982, it sits on 13.6 acres of land and isanchored by Ralph's, Long's Drugs, Washington Mutual and FirstAmerican Title.
The purchase marks yet another acquisition for buyer Pan PacificRetail Properties Inc. The Vista-based REIT owns more than 50shopping centers, concentrated in California, Nevada, Washingtonand Oregon. Pan Pacific was represented by the Orange Countyoffices of Charles Dunn Company. The seller, MRES America Fund88-II, was represented by Charles Dunn Company's Orange County anddowntown offices.
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