Park Pointe Buys 13,500-SF Babies R Us

WESTMINSTER, CA-Park Pointe Center LLC of Orange County has purchased a 13,500-sf building at 530 Westminster Mall from locally based Yacoel Properties I LLC for $4.9 million, according to the Reza Investment Group of Sperry Van Ness in Irvine.

The Westminster Mall building is occupied by retailer Babies R Us on a lease that was one of the selling points of the property, says Reza Etedali of Sperry Van Ness, who represented the buyer and the seller. Etedali explains that the building is new and the long-term, triple-net lease includes annual rental increases tied to the consumer price index, providing a strong return on investment for the buyer.

The property is at the corner of the highly traveled Bolsa Avenue and Golden West Street intersection, and the Babies R Us store occupies a prominent spot in the busy shopping mall. The mall is anchored by Robinsons May, Macy’s, JCPenney and Sears.