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IRVINE, CA-Separate buyers have acquired retail properties for an aggregate of more than $40 million in five separate transactions in Orange County, according to Hanley Grown Group. Principals Edward Hanley and Gregory Brown report that the properties included Oaktree Village Shopping Center in Mission Viejo, three street front buildings located in downtown Fullerton that were sold in one transaction, Beachstone Plaza in Huntington Beach, Tustin Freeway Center in Tustin and Sycamore Plaza in Lake Forest. Hanley and Brown represented both the buyer and the seller in all but one of the deals, the Fullerton properties, where they represented buyer and the seller was represented by CB Richard Ellis Private Investors in Newport Beach.In the Oaktree Village transaction, Cadence Capital Investments LLC bought the 80,223-sf shopping center at 23162-23166 Los Alisos Blvd. from D.P. Investments for nearly $14.4 million. The 4.9-acre center is anchored by Mission Ranch Market and 24-Hour Fitness. Built in 1988, the center is 97% occupied and has maintained a very low historical vacancy factor. Current rental rates at the property are below market, which gives an investor excellent upside potential, Hanley and Brown note. The Fullerton properties, which sold for nearly $10.4 million, include two retail buildings and an office/retail building totaling 52,339 sf at 116-120 Wilshire Blvd. and 211-225 Harbor Blvd. in the heart of “Old Town” Fullerton. The Simay Co. bought the properties from Advent Fullerton LLC.The 57,839-sf Beachstone Plaza is a retail and office property that sold for $9.6 million to Dr. Jackie Uyen Nguyen, who bought it from the Beachstone Plaza partnership. The property is on 3.2 acres at 18632-18700 Beach Blvd. and consists of three two-story buildings. Tenants include Edinger Medical, Allstate Insurance and H&R Block. Built in 1981, the property has historically been close to 100% occupied, and currently has only one vacancy.In Tustin, DNA Properties Inc. of Long Beach bought the 31,670-sf Tustin Freeway Center from Frey Enterprises for $4.2 million. The multitenant strip center is situated on 2.6 acres and is located off the I-5 Freeway at Newport Avenue. In Lake Forest, Ventura Gateway Associates LP and SCCC LP bought the 29,770-sf Sycamore Plaza at the Northwest corner of El Toro Road and Trabuco Road from Tabata Sycamore LLC for an undisclosed price. The property is a dominant shopping center in the trade area and benefits from a densely populated South Orange County community featuring an average household income in excess of $90,000 per year.

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