The property asset involved in the transaction is a retail strip center known as Rancho Ortega Plaza, located at 27211-27231 Ortega Highway in the San Juan Capistrano market. The sale price for this asset was $9,200,000. The center encompasses a total area of 23,122 square feet, translating to a price per square foot of $398.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $9,200,000
• Address: 27211-27231 Ortega Highway
• Market: San Juan Capistrano
• Square Footage: 23,122
• Price Per Square Foot: $398
• Buyer’s Representative: Michael Asarch - Asarch Commercial Endeavors
• Seller’s Representatives: Kevin Fryman & Ed Hanley - Hanley Investment Group

Kevin Fryman and Ed Hanley of Hanley Investment Group represented the seller in this transaction, successfully structuring seller financing which helped expedite the closing of the deal. The property was 89% leased at the time of the sale, appealing to a Los Angeles-based private 1031 exchange buyer who engaged in a seven-day escrow process.