Encompassing 181,000-sf, the retail complex was 100% leased at the time of sale. Anchored by Home Expo, the property includes five additional parcels on long-term ground leases.

Dixie Walker and Michael Randall of Grubb & Ellis Co.'s retail investment group represented the seller, San Diego-based M & H Realty Partners, as well as the buyer. Both men are based in Grubb & Ellis' Newport Beach office.

The county's retail sector continues to hold steady, as only a slight climb in vacancies is predicted for the months ahead. The county's overall vacancy rate is expected to slowly increase from 5.3% to 6%, according to a recent report by Marcus & Millichap Real Estate Investment Brokerage Co. However, the retail sector is "still very active for quality properties," Walker says. "There is a limited amount of supply and an increased amount of demand, due to the low cost of money," he adds.