FULLERTON, CA—The entrepreneurial nature of family offices, private-equity groups and high-net-worth individuals makes them less risk averse than institutional investors, but riskier ventures like value-add retail opportunities are now few and far between, CBRE broker Arthur Flores tells GlobeSt.com.
As we recently reported, Flores and Shaena Cushman represented seller Fiesta Distribution LLC, a local family office based out of Orange County, in the sale of a retail shopping center here to private investment company SCB Inc. for $24.5 million. Fiesta had purchased the center as a value-add opportunity in 2011 and immediately implemented a reposition strategy for it; through these upgrades, the seller was able to attract 24 Hour Fitness to the property and renew Best Buy's lease for an additional 10 years, adding significant value, according to Flores.
We spoke with Flores about how small private investors versus larger national companies and institutional investors approach Orange County's retail market.
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Carrie Rossenfeld
Carrie Rossenfeld is a reporter for the San Diego and Orange County markets on GlobeSt.com and a contributor to Real Estate Forum. She was a trade-magazine and newsletter editor in New York City before moving to Southern California to become a freelance writer and editor for magazines, books and websites. Rossenfeld has written extensively on topics including commercial real estate, running a medical practice, intellectual-property licensing and giftware. She has edited books about profiting from real estate and has ghostwritten a book about starting a home-based business.
