Newport and Walnut Center, a 9,624-square-foot retail strip center located within Orange County in Tustin, CA |
|
Daniel Tyner |
JLL worked on behalf of the seller, a private family trust that owned the center for over 20 years, and the buyer, World Premier Investments, who acquired the asset for their 1031 exchange.
Newport and Walnut Center is a high-quality unanchored retail center that features a diversified tenant mix of food, health, beauty and household services.
The
property is 100% leased to eight tenants, including HiroNori Craft Ramen, Crown
Beauty, Studio 18 Nail Bar, Moon Lash Beauty and more.
Situated
at 13812 Newport Ave., Newport and Walnut Center is positioned
strategically along the bustling Newport Avenue (27,834 VPD) and is just 0.4
miles to the I-5 freeway (345,310 VPD).
The center is located within a prime
residential node, with total residents exceeding 35,679 within a one-mile
radius and approximately 219,033 residents within a three-mile radius.
Gleb Lvovich |
The JLL Capital Markets Investment Sales Advisory team
was led by Senior Director Daniel Tyner and Managing
Directors Gleb Lvovich and Geoff Tranchina.
“Newport and Walnut received a significant amount of interest from the market as the property presented a unique opportunity to acquire an infill strip center with future upside.
"This
transaction proves the strong investor demand for well-performing, daily needs
strip centers,” said Tyner.
JLL Capital Markets is a full-service global
provider of capital solutions for real estate investors and occupiers.
Geoff Tranchina |
The firm has more than 3,000 Capital
Markets specialists worldwide with offices in nearly 50 countries.
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CONTACT:
Jenna Sharp
JLL,
Public Relations
Capital Markets
Dallas,
Texas
M
+1 214 394 3356
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