Continental Realty Corporation has entered the Southern California retail real estate market with its acquisition of the South Coast Collection (SoCo) in Costa Mesa.
SoCo is a 97% leased, 292,000 square foot luxury home furnishing and design lifestyle center, with a 60-store tenant mix featuring design, home furnishings, fashion, and culinary retailers. Christopher Hoffman and Mark Damiani of Eastdil Secured represented the seller.
They noted in a closed deal announcement that, with a value exceeding $100 million, this transaction is one of the largest single asset retail trades this year and is further validation of the strength of urban / infill retail investment opportunities.
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
