Michael Mousavi Of SRS Real Estate Partners Sells Mission Viejo Retail For $12.9M

The retail component of Avery Center in Mission Viejo has been sold for $12.9 million. The property, located at 28601-28621 Marguerite Parkway, is a 16,568-square-foot asset consisting of two fully occupied retail buildings. Built in 1977 and renovated in 2016, the property features triple-net leased tenants including Jimmy John’s Gourmet Sandwiches, Epic Wings, Broken Yolk Café, and Big Grill Mongolian BBQ, as well as four local retailers.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $12,900,000.00
• Address: 28601 Marguerite Pkwy, Mission Viejo
• Market: Mission Viejo
• Seller's Rep: Matthew Mousavi (SRS Real Estate Partners)
• Buyer: Unknown
• Square Footage: 16,568 SF

Patrick Luther and Matthew Mousavi of SRS’ Investment Properties Group acted as the seller's representatives in the transaction. Terrison Quinn, also from SRS, provided guidance on repositioning the renovated center and supervised leasing activities for the property.