Continental Realty expands its retail portfolio with $110m acquisition in Southern California
Continental Realty has acquired South Coast Collection, a prominent retail complex located in Orange County, Calif., for $110 million.
It marks Continental Realty’s first venture into Southern California. And the purchase was financed through the Continental Realty Opportunistic Retail Fund 1 (CRORF), a closed-end fund that raised $261 million since 2021. It also marks the second property asset acquired by Continental Realty on behalf of CRORF this year, following the recent $78 million acquisition of Lakeside Village, a prominent shopping center in the Lakeland suburb of Tampa, Fla.
With a 97 percent occupancy rate, the South Coast Collection spans 292,000 square feet and is situated along Interstate 405 in Costa Mesa, Calif. Tenants include Coco Republic, Design Within Reach and Natuzzi Italia, as well as The OC Mix, a 15,000-square-foot dining and shopping space that showcases more than 20 restaurants, coffee shops and quick-service eateries.