Pan Pacific, based in Vista, acquired the property in the LosAngeles County suburb of Valencia from Mitsui Real Estate, thecompany says. The property is located on McBean Parkway east ofInterstate 5
The buyer represented itself in the transaction. David Elliottof the Orange County office of the Charles Dunn Company dealt forMitsui.
Granary Square is nearly 90% leased. It is anchored by a Ralph'sSupermarket and Long's Drugs. The REIT's strategy is to acquiregroceryanchored shopping centers in strong, in-fill communities,says Stuart A. Tanz, president/CEO of Pan Pacific.
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