The length of the lease is 10 years. Financial terms of the deal were not disclosed. However, based on the average asking rate of $2.75 net per sf at The Center, the lease has an approximate value of $8.6 million.
John Beaney of Katz & Associates represented Loehmann's. Bill Browne and Mark Baziak of Grubb & Ellis' Newport Beach office represented the building owner, Laguna Niguel-based Rancho Niguel Plaza II LLC.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 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.
