The company has paid $17.6 million for the Mission Viejo retail complex. Located at 27670 Santa Margarita Parkway, the property encompasses 81,990 sf. It is anchored by TJ Maxx, Ralphs and Longs Drugs.
The seller, Portola Plaza Ltd., was represented by Dennis Vaccaro and Rich Walter of Faris Lee Investments. David Lee, also of Faris Lee Investments, acted on behalf of the buyer, Pacific Castle Synergy LLC.
The transaction follows on the heels of another Orange County retail sale. The Collection at Laguna was recently snapped up by Tide Lands Inc. for $6.5 million. The 17,664-sf complex was 100% occupied at the time of sale. Tenants here include Aegean Cafe, Pacific Edge Gallery, Mama's Bakery and Gregory Stevens Salon. The property stands at 540 S. Coast Highway in Laguna Beach. It includes subterranean parking and one apartment unit.
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