The retail center stands at Imperial Highway and Kraemer Boulevard. Cushman & Wakefield represented the seller, the CBRE Investors affiliate of Los Angeles-based real estate services giant CB Richard Ellis.
The deal marks the second major OC purchase involving New York-based Investcorp over the past couple of weeks. In mid-August, the global investment giant joined forces with Santa Barbara-based Pacifica Real Estate Group to pay $38.2 million for the 231,323-sf Landmark Lakehills office complex in the South County community of Laguna Hills.
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