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LAGUNA HILLS, CA-The Laguna Hills Plaza retail complex has traded hands in a 1031 exchange valued at $13 million.

Encompassing approximately 10,000 sf, the property stands at 24791-24901 Alicia Parkway in Laguna Hills. It is anchored by Pic-N-Save and Chick’s Sporting Goods. The buyer, Sylmar Apartments LLC, plans to remodel and expand the Chick’s Sporting Goods store, says Dennis Vaccaro of Faris Lee Investments.

Vacarro, along with Faris Lee colleague Rich Walter, acted on behalf of the seller, Alicia Plaza Ltd. David Lee and Patrick Kent, also of Faris Lee Investments, spoke on behalf of Sylmar Apartments LLC in the transaction.

Investors nationwide are increasingly eyeing retail opportunities, especially in coastal areas such as Orange County. According to a new retail report by Marcus & Millichap Real Estate Investment Brokerage Co., “the National Retail Index’s high-ranking Southern California markets—San Diego, Orange County and Riverside/San Bernardino—boast strong supply/demand fundamentals supported by continued positive population and job growth.”

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