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| Home Ranch Center, Yorba Linda, CA |
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| CJ Osbrink |
NEWPORT BEACH, CA, Aug. 8,
2016 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has closed
the $15.85 million sale of Home Ranch
Center, a 54,169-square-foot, value-add neighborhood shopping center in the
affluent Orange County community of Yorba Linda, California.
HFF marketed the property
on behalf of the seller, YL Friends Church.
The buyer is a private real estate investment group out of Beverly
Hills, California.
Situated on 4.9 acres at
18601-18659 Yorba Linda Boulevard, the center is in an infill location
surrounded by an affluent demographic of more than 104,480 residents living
within a three-mile radius with an average annual household income of over
$122,800.
Just north of Anaheim in
the northeastern part of Orange County, the center’s Yorba Linda location puts
the center in one of CNN’s “Best Places to Live” and one of Money Magazine’s
“America’s Best Small Cities.”
Home Ranch Center comprises three buildings
that are home to national and regional tenants, including Blue Agave; Edible
Arrangements; Dr. John Kim, DDS; Luxe; State Farm Insurance; KC Salon; YL
Family Chiropractic; Crepe Maker and Papa John’s.
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| Gleb Lvovich |
The HFF retail investment
sales team representing the seller was led by CJ Osbrink and Gleb Lvovich
out of the HFF Orange County office.
“With an attractive
submarket vacancy of roughly seven percent, very high barriers-to-entry and
affluent demographics, this opportunity was incredibly appealing to investors
who saw the immediate upside through the lease-up of the available anchor
space, formerly occupied by Jo-Ann Fabrics,” Osbrink said.
“Today, more than ever, we are seeing a much
higher demand for value-add retail properties in dense and affluent locations.”
For a complete copy of the company’s news
release, please contact:
Kristen M. Murphy
Director, Marketing
HFF | One Post Office
Square, Suite 3500 | Boston, MA 02109
Main: 617-338-0990 |
Direct: 617-848-1572 | Cell: 617-543-4873 | www.hfflp.com
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