Newport Beach, CA (October 31, 2022) – SRS Real Estate Partners’ Investment Properties Group (IPG) announced today it has completed the $9.8 million sale of Marguerite Plaza, a 24,974-square-foot (sf) multi-tenant retail property located at 28892 Marguerite Parkway in Mission Viejo, CA (south Orange County). Built in 1974 with an extensive remodel in 2016, the property is situated on 2.07 acres and is 98% occupied by Salon Centric, Core Power Yoga, GolfTec Enterprises, and Zenko Sushi, among others.
SRS NNLG’s Managing Principals Matthew Mousavi and Patrick Luther represented the seller, a Southern California-based private group of investors. The buyer, a Southern California-based private investor was represented by Richard Kim with Compass. Project leasing at the property was handled by SRS’ Terrison Quinn and Tony Vuona.
“This asset presented a rare opportunity for an investor to own a multi-tenant retail property in the affluent, master-planned City of Mission Viejo in south Orange County. This is one of the most coveted regions in Southern California to own commercial real estate due to the master-planned, high barrier to entry nature of this market,” said Mousavi. “We aggressively marketed this asset and secured a high number of offers from both exchange and non-exchange investors. Overall, the property sold for just over $392 per square foot at an aggressive cap rate despite rising interest rates. Well-located, infill retail centers with long-term upside potential will continue to see strong demand from investors.”
Marguerite Plaza is one mile away from The Shops at Mission Viejo, a retail center with more than one million sf of retail space. The highly visible property is adjacent to Interstate 5 and is near Mission Hospital and Saddleback College.
In 2021, SRS’ Investment Properties Group (IPG) and National Net Lease Group (NNLG) completed more than $3.1 billion in deal volume comprised of 899 transactions in 49 states. SRS and currently has more than $2.5 billion in property on the market, with more than 630 properties sold year-to-date valued in excess of $2.4 billion.
About SRS Real Estate Partners
Founded in 1986, SRS Real Estate Partners is building upon its retail foundation to provide extensive commercial real estate solutions to tenants, owners, and investors. Headquartered in Dallas, with more than 25 offices in the U.S., SRS has grown into one of the industry’s most influential and respected leaders. Our commitment to excellence is strengthened by our Guarantee of Value and our success is measured in the achievement of our clients’ objectives, satisfaction, and trust. For more information, please visit srsre.com.
SRS’ Investment Properties Group (IPG) & National Net Lease Group (NNLG) is a unified platform of seasoned net lease professionals located and transacting nationally with all underwriting and marketing efforts strategically located in Southern California. In 2021, the group completed more than 899 sales across more than 49 states and has over 160 brokerage professionals nationally. From proactive sales to targeted acquisitions and tailored debt and equity solutions, SRS’ National Net Lease Group offers comprehensive services to net lease owners and investors. Superior speed-to-market, world-class marketing materials, a deep investor database and unparalleled retail submarket intelligence from the entire SRS platform allow SRS’ National Net Lease Group to deliver the best possible returns. For more information, please visit srsre.com/national-net-lease-group.