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Katella Star Plaza Acquires Retail Property On W. Katella Ave. In Garden Grove For $33.5M

10870 West Katella Avenue
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This Retail property located in CA was sold for $33,500,000 over 2 years ago. The brokers of the deal were John Read and Sheri Messerlian

An 89,559 square foot retail property located at 10870 W. Katella Ave. in Garden Grove has been sold for $33,500,000. The property, known as Katella Star Plaza, was sold by Red Mountain Group & KAT GG DE LLC to an undisclosed buyer. The sale price translates to a price per square foot of $374 and a capitalization rate of 5.8%.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: $33,500,000
  • Market: Garden Grove
  • Address: 10870 W. Katella Ave.

The sale of Katella Star Plaza was facilitated by the following brokers: Sheri Messerlian from NAI Capital Commercial and John Read from CBRE.

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Deals
  • Location
    10870 Katella Avenue, Garden Grove, California 92840, United States10870 Katella Avenue, Garden Grove, California 92840, United States
  • Sale Price
    $33,500,000$33,500,000
    $374 PPSF$374 PPSF
  • Area
    89,559 SF89,559 SF
  • Asset Type
    RetailRetail
  • Parties
    2 Brokers, 2 Agencies2 Brokers, 2 Agencies

Agents

John Read

John Read

Deals2
Sold$54.5M

Agencies

CBRE

CBRE

Agency
Deals4229
Volume$184.3B

NAI Capital

NAI Capital

Agency
Deals428
Volume$2.7B

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Deal Summary

SALE IMAGE: Sheri Messerlian & John Read DATE: 12/16/2021 ADDRESS: 10870 W. Katella Ave. MARKET: Garden Grove ASSET TYPE: Retail BUYER: Katella Star Plaza SELLER: Red Mountain Group & KAT GG DE LLC BROKERS: Sheri Messerlian - NAI Capital Commercial; John Read - CBRE SALE PRICE: $33,500,000 SF: 89,559 ~ PPSF: $374 CAP: 5.8%

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10870 West Katella Avenue

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