Richard Walter and Dennis Vaccaro of Irvine-based Faris Leerepresented Armour Properties, the Newport Beach-based investmentcompany that sold the property, with Gary Mull of ProvidenceInvestment Properties representing TIF. The entire center is partof the 370-acre Town Center master-planned community in the heartof Rancho Santa Margarita.

In addition to Circuit City, the 40,000 sf that TIF acquiredincludes "in-line shops occupied by strong local tenants,"according to Walter. Vaccaro pointed out that closing the dealpresented some challenges because it had to be timed precisely tomatch new loan funding for the buyer's 1031 exchange.

Built in 2000 and 2001, the Santa Margarita Marketplace issituated on 30 acres along the 241 Transportation Corridor at SantaMargarita Parkway. The larger center is anchored by Lowe's HomeImprovement and was 100% occupied at the time of the sale.