X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

ANAHEIM, CA-Anaheim’s 181,000-sf Brookhurst Center is now under new ownership, as Pan Pacific Retail Properties has acquired it.

The San Diego-based company has paid $20.4 million for the retail complex. Located at the corner of Brookhurst Street and Ball Road, the shopping center was 99% leased at the time of sale. Major tenants here include Rite Aid and Ralphs.

Pan Pacific Retail Properties was represented by Dixie Walker and Michael Randall of Grubb & Ellis Co.’s retail investment group. Walker and Randall also represented the seller, an unnamed private family trust.

Recent research points to continued investment interest in the Orange County retail sector, despite a slight rise in vacancies predicted for the months ahead. The county’s overall vacancy rate is expected to slowly increase from 5.3% to 6%. However, such a slight increase bodes well for the region, which is enjoying steady sales activity here.

Developers are banking on this steady performance, as builders are expected to start construction on an additional 4.2 million sf by the end of the year.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Dig Deeper

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.