City Bags Retail Site for $1.9 Mil

ANAHEIM, CA-The City of Anaheim has snatched up a vacant retail building here for $1.9 million. The stand-alone, 20,232-sf building is located at 320 S. Beach Blvd. It was built in 1971. Its future use is still undecided, but there have been talks of turning it into a community development center or a police substation.

The seller, Phil Borsuk, was represented by Joe Miller of CB Richard Ellis’ Anaheim office. The City of Anaheim was represented by Roger Cunningham of Security Land.

Another retail project will soon rise in the county, as construction has recently begun on a Newport Beach shopping complex. The $7.3-million development, known as Newport Ridge Retail Center, will rise on a 10.82-acre parcel on the corner of Newport Coast Drive and San Joaquin Hills Road.

Upon completion, the complex will encompass 50,000 sf. It will consist of three, one-level buildings. Each facility will be wood-framed with plaster finish and shaped cornice. Completion is scheduled for February 2002.