The Taco Bell pad is located in Amerige Heights Town Center, which stands at the intersection of Malvern Street and Gilbert Street. Taco Bell signed a 20-year lease to occupy the space. The deal includes four additional five-year options.
The seller, Regency Centers, was represented in-house. The buyer, Gary Germann with Lava Rock Eighty-Six LLC, was represented by David Minck of California Retail Investments.
Amerige Heights Town Center encompasses 417,081 sf. It is 58% occupied, with Target and Albertson's as its anchor tenants.
Regency Centers plans to build a strong relationship with the Fullerton community and future tenants of the shopping center, according to Brian Smith, managing director of investments for the Pacific/Northwest region.
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