SANTA ANA, CA—CBRE’s National Retail Investment Group – West (NRIG-West) team has completed the sale of McCalla Centre, a 110,620-square-foot neighborhood shopping center in the city of Santa Ana, anchored by a high-performing Northgate Market and CVS/pharmacy, along with a synergistic mix of retail and shop tenants. The sale price was $31.8 million, representing a 3.76% cap rate on high occupancy.

CBRE’s retail investment experts including VP Philip Voorhees, and team members James Slusher, Megan Wood, Brad Rable, Matt Burson and John Read represented the seller, an Orange County-based private investor partnership and the center’s original developer. The buyer, also represented by Voorhees and the NRIG-West team, was a San Diego-based private real estate investment fund manager.Built in 1986, McCalla Centre is located on 8.72 acres at 230 N. Harbor Boulevard, near West First Street. The shopping center was 97% occupied at the time.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Dig Deeper

GlobeSt

Join GlobeSt

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
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.