Shara Movafagh Acquires Retail Property In Orange County For $5.7M | 20761 Lake Forest Drive | Peter Xiao, Orbell Ovaness, Ara Rostamian | Retail | Sale

Summary

Sale

CALIFORNIA

Retail

17,244 sqft

The property involved in this transaction is a retail asset located at 20761 Lake Forest Drive in Orange County. The sale took place on August 18, 2021.

Summary of transaction details

Property Type: Retail
Transaction Amount: $5,700,000
Address: 20761 Lake Forest Drive
Market: Orange County
Buyer: Shara Movafagh
Seller: Angie Liu
Brokers: Orbell Ovaness, Ara Rostamian & Peter Xiao - Ovaness-Rostamian Group
Asking Price: $6,000,000
Square Footage: 17,244
Price per Square Foot: $330

The Ovaness-Rostamian Group of Marcus & Millichap successfully marketed this property, attracting 7 qualified bidders to the final round of the auction. Ultimately, a repeat client was chosen as the buyer, and they were able to conduct their due diligence within 21 days and close the escrow just 10 days after. Orbell Ovaness, the first vice president and managing principal of the Ovaness-Rostamian Group, highlighted the team's strategic marketing efforts in creating an auction-like atmosphere for the property.

For more information about the Ovaness-Rostamian Group, you can visit their website http://www.OvanessRostamianGroup.com.

Read Less

Players

All
4

Agents
3
Agencies
1

Peter Xiao

Associate

$14.6M Sold

Orbell Ovaness

First Vice President Investments

$117.2M Sold

Ara Rostamian

Vice President Investments

$117.2M Sold

Details

Deal Summary

SOLD

IMAGE: Orbell Ovaness, Ara Rostamian & Peter Xiao DATE: 08/18/2021 ADDRESS: 20761 Lake Forest Drive MARKET: Orange County ASSET TYPE: Retail BUYER: Shara Movafagh SELLER: Angie Liu BROKERS: Orbell Ovaness (@Brkr_Dis), Ara Rostamian (@Ara_H_Rostamian) & Peter Xiao - Ovaness-Rostamian Group (@Ovaness_Rostamian) ASKING PRICE: $6,000,000 SALE PRICE: $5,700,000 SF: 17,244 ~ PPSF: $330 NOTES: “The team’s strategic marketing efforts created an auction-like atmosphere around this property, bringing 7 qualified bidders to the final round, ultimately picking a repeat client who was able to perform their due diligence in 21 days & close escrow 10 days thereafter”, said Orbell Ovaness, first vice president & managing principal of the Ovaness-Rostamian Group of Marcus & Millichap. You can learn more about our team by visiting http://www.OvanessRostamianGroup.com

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Address20761 Lake Forest Drive

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