The two-story facility, known as Kragen Commercial Building, is located at 400 Camino de Estrella. Encompassing 12,586 sf, the multi-tenant building is anchored by Kragen Automotive.
The buyer, Stewart Avenue Properties, was represented by Jim Wellbaum and Matt Crawford of Triwell Properties. The seller, Marty Hannigan of GME San Clemente, was represented by Dennis Vaccaro and David Lee of Faris Lee Investments.
The deal follows another Orange County retail transaction, in which a 5,768-sf retail property was acquired. The Tustin complex was snapped up for $1.1 million by private investor Betty Nolde, as reported Wednesday by Globest.com. Sold by Plaza on First Associates, the property is a six-tenant, triple-net retail complex with mostly long-term occupants. The complex, which stands at 640 W. First St., is 100% occupied. It is known as Plaza on First.
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