Hanley Investment Group Real Estate Advisors closed the sale of Rancho Ortega Plaza, a two-story, 23,122-square-foot strip center anchored by Starbucks in San Juan Capistrano. The property sold for $9.2 million to a private 1031 exchange buyer in a seven-day escrow.
EVP Kevin Fryman and president Ed Hanley represented the seller, a private investor based in Orange County. The buyer, a Los Angeles-based private investor, was represented by Michael Asarch of Asarch Commercial Endeavors in Valencia.
“This was a rare South Orange County Starbucks-anchored strip center,” said Fryman. “We generated an offer from a private 1031 buyer within one day of launching marketing and closed escrow within 30 days, including a two-day due diligence period. We structured seller financing to support the expedited closing timeline.”
Located at 27211-27231 Ortega Hwy., Rancho Ortega Plaza was 89% occupied at the time of the sale, offering the buyer value-add potential through the lease-up of the remaining first-floor vacancy.
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