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FCA Purchases Property At 1870 Harbor Blvd Costa Mesa For $55.7 Million With CBRE Representation

Property Image
SOLD
$55,700,000
Philip Voorhees
Preston Fetrow
+ 4

California

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Property Image
SOLD

FCA Purchases Property At 1870 Harbor Blvd Costa Mesa For $55.7 Million With CBRE Representation

1870 Harbor BLVD, Costa Mesa, CA 92626

See Similar Deals
Retail
Philip Voorhees
Preston Fetrow
+ 4
Contact now

Summary

CALIFORNIA
Asset Type:Retail
Transaction Type:Sale

The Triangle is a restaurant and retail center located at 1870 Harbor BLVD, Costa Mesa, CA 92626. The property spans 204,523 square feet and was sold for $55,700,000. At the time of the sale, it was 94 percent leased to tenants, including Yard House, 24 Hour Fitness, Tavern & Bowl, Triangle Cinemas, and TIME Nightclub, making it a significant asset in the Costa Mesa market.

Summary of transaction details:

  • Property Type: Restaurant and Retail Center
  • Transaction Amount: $55,700,000.00
  • Address: 1870 Harbor BLVD, Costa Mesa, CA 92626
  • Market: Costa Mesa
  • Seller's Representatives: Kirk Brummer - CBRE, Matt Burson - CBRE, Megan Woodring - CBRE, John Read - CBRE
  • Brokers: Jimmy Slusher - CBRE
  • Buyer: FCA
  • Seller: Partnership led by Greenlaw Partners

The transaction was facilitated by Philip Voorhees, Jimmy Slusher, Kirk Brummer, Megan Wood, Preston Fetrow, Matt Burson, and John Read of CBRE. This group worked on behalf of the seller, while the buyer was represented by a Los Angeles-based family office syndicate.

Players

Jimmy Slusher
16 deals$474.4M volume(949) 725-8507
BROKER

Megan Woodring
CBRE
7 deals$482.3M volume
BROKER

Preston Fetrow
CBRE
6 deals$215.2M volume
BROKER

Philip Voorhees
CBRE
12 deals$361.4M volume
BROKER

John Read
CBRE
4 deals$126.7M volume
BROKER

Kirk Brummer
Kidder Mathews
5 deals$168.3M volume(949) 295-7262
BROKER

Matt Burson
CBRE
1 deal$55.7M volume(949) 725-8420
BROKER

FCA
BUYER

Details

SOLD
IMAGE: 1870 Harbor BLVD, Costa Mesa, CA 92626 MARKET: Costa Mesa SELLER'S REP: Kirk Brummer - CBRE, Matt Burson -CBRE, Megan Woodring - CBRE, John Read - CBRE BROKERS: Jimmy Slusher-CBRE BUYER: FCA SELLER: PRICE: $55,700,000.00 SF: 0

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$2,970,666.67

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$197,890.33
Cash-on-Cash Return-1.27%
Monthly Debt Service$264,046.42
Annual Debt Service$3,168,557.00