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YORBA LINDA, CA-Diversified Equity Investment Corp. of Irvine has acquired the nearly 90,000-sf Bryant Ranch shopping center in this city from Santa Ana-based Triple Net Properties for $13 million, according to Faris Lee Investments. The property is situated at the northeast corner of La Palma Avenue and Via Lomas De Yorba.

Richard Walter and Patrick Kent of Irvine-based Faris Lee represented Diversified Equity and were also the listing agents for Triple Net Properties. Triple Net, a tenant-in-common specialist, was also represented internally by Kent Peters. Louis Rogers, president of Triple Net, reports that the company sold the property on behalf of 21 tenant-in-common investors. Triple Net had owned the center since in 2002.

Built in 1993, Bryant Ranch is composed of seven buildings, with a tenant roster including Ralph’s, Mulberry Childcare centers, Linda Evans Fitness Center and Round Table Pizza. The center was 90% occupied at the time of the sale. The disposition was one of a number of sales and acquisitions in recent weeks and months by Triple Net, which manages a portfolio of nearly 20 million sf of commercial properties with a market value of more than $2 billion.

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