Buchanan Street Partners Buys 91k sf OC Retail Asset

Buchanan Street Partners has acquired E405 Euclid Shops, a 91.5k sf flex/showroom retail center in Fountain Valley, for $24 mil ($262/sf). Situated on 4.9 acres at 18225 to 18349 Euclid St, the highly-visible center includes tenants: Sherwin-Williams, Guitar Center, and Cort Furniture, among others.

The property, located in Fountain Valley, has more than 670,000 residents and 350,000 employees within a five-mile radius. The center offers easy access to the 405 Fwy and features a 70-foot pylon sign directly visible from the freeway.

Matthew Mousavi, Patrick Luther and Rich Walter with SRS National Net Lease Group represented the buyer, along with the seller and original developer, a SoCal-based family trust.

“E405 is irreplaceable real estate that rarely comes to market,” said Matt Haugen, vice president, Buchanan Street Partners. “These buildings provide us with multiple investment strategies due to the product type, location and visibility.”