Thank you for sharing!

Your article was successfully shared with the contacts you provided.

LAKE FOREST, CA—Los Angeles-based the Mayfield Trust has sold Foothill Center, a 19,400-square-foot multi-tenant shopping center here, to a China-based buyer for $7.64 million. The center is 95% occupied with tenants including Baja Fresh, Enterprise Rent-A-Car, and Wasabi Sushi. Matthew Mousavi and Patrick Luther of Faris Lee Investments represented the seller, while the buyer represented itself in the transaction. The sale price had an in-place cap rate of 4.81%, a record low for a non-anchored retail strip center sale in south Orange County, industry sources say.


Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now

Copyright © 2018 ALM Media Properties, LLC. All Rights Reserved.