Curbline Properties Corp. Acquires Retail Property In Rancho Santa Margarita For $22.76M
30451 Avenida De Las Flores
$22,760,000
$773/SF
Building Size
29,418 SF
Asset Type
Retail
Closing
Nov 25, 2024
AI
The retail asset located at 30451-30465 Avenida De Las Flores in Rancho Santa Margarita encompasses 29,418 square feet and was acquired for $22,760,000. The unanchored retail space includes tenants such as Starbucks and Luna Grill and is part of the Santa Margarita Marketplace. The property is situated within a competitive market known for its commercial potential.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $22,760,000
- Address: 30451-30465 Avenida De Las Flores
- Market: Rancho Santa Margarita
- Square Footage: 29,418
- Price per Square Foot: $774
- Buyer: David R. Lukes - Curbline Properties Corp.
- Seller: K&G Marketplace
- Brokers: Chris DePierro, Jeff Conover, Scott DeYoung & Greg Lukosky - Faris Lee Investments
Curbline Properties Corp. aims to enhance its portfolio through this acquisition as part of a broader $100 million investment strategy following its spin-off from SITE Centers. The brokers involved in this transaction represent a significant presence in the retail real estate market, with the deal demonstrating their expertise in facilitating high-value transactions.
Players
Rancho Santa Margarita Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.70%
Cash-on-Cash
-0.20%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93