NEWPORT BEACH, CA—Secondary and tertiary markets need to tell a very good story for investors to be interested, which is generating strong demand in South Orange County for stable retail properties, Paul Bitonti, first VP investments and director of the national retail group with Marcus & Millichap, tells GlobeSt.com. Bitonti is currently involved in multiple retail sales transactions, each generating more than $10 million, and is representing two triple-net-leased banks for sale—all in the Mission Viejo/South Orange County area.
According to regional manager Jonathan Giannola, this volume of activity at one time is unprecedented in the firm's office as well as in the South Orange County retail market. We spoke with Bitonti about the recent elevation in retail activity as well as South Orange County retail-market trends and projections.
GlobeSt.com: What unusual activity are you noticing in the Mission Viejo and South County area?
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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.
