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TRABUCO CANYON, CA-A Trabuco Canyon retail complex has changed hands for $8.4 million. The buyer, a private investor, has snapped it up for $315/sf at an 8.7% cap rate.

Known as Trabuco Marketplace, the shopping center is fully occupied. It is anchored by Alberstons and Sav-On, which were not included in the sale. The property stands at 21602-21702 Plano Trabuco Rd.

The buyer, Ephram Nehme, was represented by Ed Principe and Margie Jones of 222 Commercial Group. Barbara Sykes, Reza Etedali and Fouy Ly from Sperry Van Ness acted on behalf of the seller, Trabuco Marketplace LLC.

“The 1031 exchange market activity that we are seeing in this quarter is unmatched,” says Etedali. “The recent uncertainty in the overall market, coupled with historical low interest rates, has caused many investors to look at real estate as a safe haven and shopping centers especially are in favor.”

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