3/27/2008

Two retail pads in So. California on the market with $41 million price tag

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Trabuco Hills Shopping Center

Faris Lee Investments has been hired to market and sell two portions of the Trabuco Hills Shopping Center in Mission Viejo, Calif., with an asking price of $41 million.

Richard Walter and Dennis Vaccaro are representing the seller, Pacific Castle Props II, LLC, in the offering.

Built in 1991, the two properties contain 74,031 square feet and are being offered individually or as a whole with a fixed interest rate of 5.7 percent. The first property is located at 27805, 27815, 27835 and 27855 Santa Margarita Parkway. It contains 49,781 square feet and is being offered for $24.475 million. Current tenants include Denault's Hardware Store, Party City, Subway, Pizza Hut and others.

The second property is located at 27785, 27845 and 27865 Santa Margarita Parkway. It contains 24,250 square feet on 2.67 acres and has an asking price of $16.85 million. Current tenants of the property include Walgreens, Claim Jumper and Ramona Tire.

Walter is also currently marketing The Vine at Castaic in Castaic, Calif., with an asking price of $15.49 million. A 35-year veteran of the real estate business, Walter was recently featured in crefeed.com's Five Questions With...

Address: Santa Margarita Parkway, Mission Viejo, Calif.

Size: 74,031 square feet

Built: 1991

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Filed Under: Retail

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