Lee & Associates Completes Sale of Multi-Tenant Retail Shopping Center in Orange County for $4.7 Million, 4.26% Cap Rate

SANTA ANA, CALIF. – (RealEstateRama) — Lee & Associates, a national commercial real estate brokerage firm, announced today that the company represented the buyer and seller in the sale of Grovemont Square, a 29,030-square-foot multi-tenant retail shopping center at 2428 North Grand Avenue in Santa Ana, Calif. The sale price was $4,730,000, representing a cap rate of 4.26 percent.

Lee & Associates’ Senior Vice President and Principal Jon Selznick and Associate Brant Dorman represented the seller, a private investor from Encino, Calif. The buyer, a private investor from Commerce, Calif., was also represented by Jon Selznick with Lee & Associates. Selznick and Dorman are based out of Lee & Associates Lake Forest, Calif. office.

Built in 1973, the multi-tenant retail building is situated on a 2.5-acre parcel just south of State Route 22, and less than two miles from both Chapman University and MainPlace Mall in Orange County. The retail center was 85% occupied at the time of the sale.

About Lee & Associates
Celebrating more than 37 years of leadership excellence in commercial real estate, Lee & Associates is the largest broker-owned firm in North America with locations across the U.S. and Canada including California, Colorado, Arizona, Florida, Georgia, Idaho, Illinois, Indiana, Kansas, Maryland, Michigan, Missouri, Nevada, New Jersey, New York, Ohio, Pennsylvania, South Carolina, Texas, Vancouver BC and Wisconsin. With more than 800 brokers nationwide, Lee & Associates provides a wide range of specialized commercial real estate services on a local, regional and national level.

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Lee & Associates

Lee & Associates-Investment Services Group (Lee ISG) provides commercial real estate brokerage and advisory services to public and private investors, investment trusts, high net worth individuals and banks and lending institutions throughout Southern California and the nation. Utilizing a team approach that allows us to customize resources to the requirements of each assignment, we assist clients to capitalize on opportunities and build wealth while minimizing costs and mitigating risk.

Our agents represent a comprehensive spectrum of expertise including acquisitions and dispositions, 1031 exchanges, real estate investment consulting, land assemblage, property and portfolio evaluation and market research and analysis for office, industrial, retail, shopping center, NNN and multifamily assets. As a member of the Lee & Associates Group of Companies we also provide our clients with access to local market expertise through 43 offices in California, Arizona, Georgia, Idaho, Illino  is, Indiana, Kansas, Michigan, Missouri, Nevada, South Carolina, New Jersey, Texas and Wisconsin.

Contact:

Phone: 818-933-0317

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