Tide Lands Inc. has acquired the multi-tenant retail center. The complex, which stands at 540 S. Coast Highway, was 100% occupied at the time of sale. Encompassing 17,664 sf, The Collection at Laguna features a wide range of occupants. Tenants here include Aegean Cafe, Pacific Edge Gallery, Mama's Bakery and Gregory Stevens Salon. The property also includes subterranean parking and one apartment unit.
The buyer was represented by Robert Clippinger of Providence Realty Group. Dennis Vaccaro and David Lee of Faris Lee Investments acted on behalf of the seller, Pacific Castle Properties.
"South Orange County has remained a strong place for commercial real estate investment," Vaccaro says. Retail properties, in particular, are highly sought after by investors in this region, he adds. "It is perceived as a safe place to put your money."
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