The Village at Orange, formerly known as the Mall of Orange, is located on a 61-acre site on Tustin Avenue just west of the Newport Beach (55) Freeway. The 30-year-old center includes department stores Sears and JC Penney as well as Olive Garden, Todai, Oggi's Pizza and Brewing Co., Pasta Pomodoro, Chipotle and Red Robin. It is complemented by community center retailers such as Wal-Mart, Linens 'n Things, Cost Plus, Ross and Trader Joe's.
Passco was represented in its acquisition by Wolfe Commercial, with the sellers represented by the A.J. Ross company. The purchase is the first mall acquisition in Orange County for Passco, which last year completed one of the largest tenant-in-common transactions ever recorded when it bought the 1.2-million-sf Puente Hills Mall in the City of industry for $148 million.
Passco specializes in providing 1031 tax exchange transactions including neighborhood and community retail centers, regional malls, multi tenant industrial business park acquisitions and development and industrial and single family land entitlement. The company's portfolio consists of more than 7 million sf of assets under management and development.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.