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Cushman & Wakefield Advises DMI Real Estate In Selling Two Orange County Retail Centers For $25.5M

Property Image
SOLD
$25,500,000
Joseph Lising
Ron Duong
Daniel Sydor

California

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Retail47,196 SF
Sold
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SOLD

Cushman & Wakefield Advises DMI Real Estate In Selling Two Orange County Retail Centers For $25.5M

7811 Valley View St La Palma, Ca 90623, Usa

See Similar Deals
Retail47,196 SF
Sold
Joseph Lising
Ron Duong
Daniel Sydor
the dealplayerscompscontact
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Summary

CALIFORNIA
Asset Type:Retail
Price Per Square Foot:$540
Total Square Footage:47196 SF
Transaction Type:Sale

DMI Real Estate has sold two refurbished retail centers in Orange County, California: the La Palma Collection and the Row on Harbor. The La Palma Collection is a 23,882 sq. ft. retail center located at 7811-7971 Valley View Street in La Palma. The Row on Harbor is a 23,314 sq. ft. retail center located at 1450-1478 S. Harbor Boulevard in La Habra. These properties were sold separately for a total of $25.5 million, making it the highest-priced unanchored retail portfolio sale in Orange County in 2023.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: $25,500,000
  • Square Footage: 47,196
  • Price per Square Foot: $540
  • Market: La Palma & La Habra

Cushman & Wakefield represented the seller, DMI Real Estate, in this transaction. The buyer's representative was Ron Duong from Marcus & Millichap. Joseph Lising and Daniel Sydor from Cushman & Wakefield also served as the seller's representatives. Together, they facilitated the successful sale of these retail centers in Orange County.

Players

Joseph Lising
Cushman & Wakefield
Joseph Lising
8 deals$63.8M volume(949) 372-4896
BROKER
Ron Duong
Marcus & Millichap
Ron Duong
3 deals$90.5M volume(949) 350-5431
BROKER
Daniel Sydor
Cushman & Wakefield
Daniel Sydor
1 deal$25.5M volume
BROKER

Details

SOLD
IMAGE: Joseph Lising, Ron Duong & Daniel Sydor DATE: 08/09/2023 ADDRESS: 7811-7971 Valley View Street & 1450-1478 S. Harbor Boulevard MARKET: La Palma & La Habra ASSET TYPE: Retail SELLER: DMI Real Estate BUYER'S REP: Ron Duong - Marcus & Millichap SELLER'S REP: Joseph Lising & Daniel Sydor - Cushman & Wakefield SALE PRICE: $25,500,000 SF: 47,196 ~ PPSF: $540 NOTE: Cushman & Wakefield advised DMI Real Estate in selling two refurbished retail centers in Orange County, California: the 23,882 sq. ft. La Palma Collection and the 23,314 sq. ft. Row on Harbor. Sold separately for around $25.5 million in total, this marks Orange County's highest-priced unanchored retail portfolio sale of 2023.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$1,360,000.01

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$90,596.11
Cash-on-Cash Return-1.27%
Monthly Debt Service$120,883.01
Annual Debt Service$1,450,596.11