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WESTMINSTER, CA-An individual investor has acquired a 35,149-sf combination office and retail property from two local investors for $10.6 million, according to GVA Daum. The mixed-use property is at 9039 Bolsa Ave. in the Little Saigon district of this city.

Jeff Demorest of GVA Daum represented the sellers, two private individuals. Demorest also represented the property’s previous owner when the current sellers acquired the asset four years ago.

The property is located on a high-visibility corner at the gateway to Westminster’s Little Saigon section. The buyer, who is locally based, was represented by David Nguyen of Little Saigon Realty.

The sale was one of three retail deals that closed recently in Orange County involving private buyers and sellers. In the second, also in Garden Grove, an individual investor paid slightly more than $3 million for a 15,400-sf Kragen Auto Parts retail property at 13933 Harbor Blvd.

The deal, which closed at a cap rate of 5.1%, was brokered by Paul Bitonti of Marcus & Millichap. Bitonti represented both the buyer and the seller, a trust that had owned the property since 1996.

In the third deal, Marcus & Millichap reports that a private LLC acquired the Center on Bastanchury, an 8997-sf property in Yorba Linda, for $5.25 million. Scott Hook of Marcus & Millichap represented both the buyer and the seller.

The seller was an Orange County-based developer that recently completed construction of the six-tenant retail building. The Center on Bastanchury is situated at the intersection of Imperial Highway and Bastanchury Road in a high-traffic area of the city.

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