CBRE arranged the sale of Westport Plaza & Square, a 39,334-square-foot shopping center at 369 E. 17th St. in Costa Mesa, for $25.7 million. CBRE’s National Retail Partners-West team, led by Jimmy Slusher along with Megan Lanni and Shaya Northrup, represented both the seller, Newport Beach-based Space Investment Partners, and the buyer, Asana Partners.
“Westport Plaza & Square enjoys one of the premier retail locations in Orange County. Surrounded by a vibrant mix of national and specialty grocers, upscale dining, stylish boutiques, and affluent demographics, the property location serves as its anchor and provides a competitive edge,” said Lanni.
Built in 1975 and renovated in 2002 and 2018, the center encompasses 13.73 acres of leased land and benefits from more than 535 feet of linear frontage along East 17th Street. Westport Plaza & Square is subject to a long-term ground lease through 2079, with a total remaining term of just over 54 years including options.
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