Private Investor Acquires Property From Red-E-Rentals For $4.2 Million In Costa Mesa

A 3,993-square-foot retail storefront located at 2075 Harbor Blvd, Costa Mesa, CA, recently sold for $4,200,000. The property falls within Orange County’s Airport submarket, close to notable locations such as The Triangle, South Coast Plaza, and John Wayne Airport. It is situated within a designated retail cannabis Green Zone, making it eligible for a retailer-storefront commercial cannabis permit following the adoption of Measure Q.

Summary of transaction details:

• Property Type: Retail Storefront
• Transaction Amount: $4,200,000.00
• Buyer: Private Investor
• Seller: Red-E-Rentals
• Buyer’s Representative: Andrew Batcheller - NAI Capital
• Seller’s Representative: Steve Liu - NAI Capital
• Square Footage: 3,993
• Price Per Square Foot: $1,051

The property was occupied by Red-E-Rentals, a local contractor equipment rental company, since the mid-1970s. The firm had the property listed for $3.7 million before it sold for $4.2 million, reflecting significant interest in the asset. The buyer has also applied for a cannabis conditional use permit intending to establish a dispensary on the site.