Shopoff Realty Investments closed on the $2.5-million sale of a 0.46-acre retail parcel, the final remaining parcel of the 14-acre Sunrise Village neighborhood shopping center in Fullerton, which has generated $58.8 million in dispositions for the firm. The recently sold building currently houses a veterinary clinic, and the remaining space is slated to become a fast-casual Korean restaurant. The remaining parcels were sold to individual owners beginning in 2023.
Shopoff acquired the aging neighborhood retail center for $26.5 million in 2021 and began collaborating with the City of Fullerton to identify the highest and best use for the property. The firm secured approvals for a redevelopment plan that envisioned a mixed-use center with housing and service-oriented retail for the site.
“When we first acquired the property, we saw an opportunity to transform a deteriorating center and create something meaningful for the Fullerton community,” said Shopoff president and CEO William A. Shopoff.
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