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20761 Lake Forest Drive

Shara Movafagh Acquires Retail Property In Orange County For $5.7M

20761 Lake Forest Drive

17,244 SF
clock iconSold 1 year ago
Peter Xiao
Orbell Ovaness
Ara Rostamian
the dealplayerscompscontact
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17,244 sqft

The property involved in this transaction is a retail asset located at 20761 Lake Forest Drive in Orange County. The sale took place on August 18, 2021.

Summary of transaction details

  • Property Type: Retail
  • Transaction Amount: $5,700,000
  • Address: 20761 Lake Forest Drive
  • Market: Orange County
  • Buyer: Shara Movafagh
  • Seller: Angie Liu
  • Brokers: Orbell Ovaness, Ara Rostamian & Peter Xiao - Ovaness-Rostamian Group
  • Asking Price: $6,000,000
  • Square Footage: 17,244
  • Price per Square Foot: $330

The Ovaness-Rostamian Group of Marcus & Millichap successfully marketed this property, attracting 7 qualified bidders to the final round of the auction. Ultimately, a repeat client was chosen as the buyer, and they were able to conduct their due diligence within 21 days and close the escrow just 10 days after. Orbell Ovaness, the first vice president and managing principal of the Ovaness-Rostamian Group, highlighted the team's strategic marketing efforts in creating an auction-like atmosphere for the property.

For more information about the Ovaness-Rostamian Group, you can visit their website http://www.OvanessRostamianGroup.com.


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Peter Xiao's profile picture
Peter Xiao
Marcus & Millichap-image
$14.6M Sold


Deal Summary
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IMAGE: Orbell Ovaness, Ara Rostamian & Peter Xiao DATE: 08/18/2021 ADDRESS: 20761 Lake Forest Drive MARKET: Orange County ASSET TYPE: Retail BUYER: Shara Movafagh SELLER: Angie Liu BROKERS: Orbell Ovaness (@Brkr_Dis), Ara Rostamian (@Ara_H_Rostamian) & Peter Xiao - Ovaness-Rostamian Group (@Ovaness_Rostamian) ASKING PRICE: $6,000,000 SALE PRICE: $5,700,000 SF: 17,244 ~ PPSF: $330 NOTES: “The team’s strategic marketing efforts created an auction-like atmosphere around this property, bringing 7 qualified bidders to the final round, ultimately picking a repeat client who was able to perform their due diligence in 21 days & close escrow 10 days thereafter”, said Orbell Ovaness, first vice president & managing principal of the Ovaness-Rostamian Group of Marcus & Millichap. You can learn more about our team by visiting http://www.OvanessRostamianGroup.com

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Address20761 Lake Forest Drive


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