Phil Berry's Shops At CDM, LLC Acquires Retail Property In Corona Del Mar For $13.7M

The property involved in this transaction is a multi-tenant retail building located at 2515 East Pacific Coast Highway in Corona del Mar, CA. The asset spans 13,883 square feet and was sold for $13,700,000, which equates to a price per square foot of $987. This transaction reflects a strong demand for coastal retail properties in the Orange County market.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $13,700,000
• Address: 2515 East Pacific Coast Highway
• Market: Corona del Mar, CA
• Asset Size: 13,883 SF
• Price Per Square Foot: $987
• Buyer: Phil Berry - Shops at CDM, LLC
• Seller: Poole Properties, Inc
• Brokers: Nathan Holthouser - Coastal Commercial ; Ron Duong - Marcus & Millichap

This transaction garnered significant interest, receiving over 10 offers and ultimately closing at $700,000 above the asking price. Phil Berry led the acquisition for Shops at CDM, LLC, securing the property. The brokers involved in this deal were Nathan Holthouser from Coastal Commercial and Ron Duong from Marcus & Millichap.