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Grocery- and drug-anchored shopping center sets record in Orange County
Transactions - NOVEMBER 8, 2019

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Grocery- and drug-anchored shopping center sets record in Orange County

by Andrea Zander

LaSalle Investment Management has sold the Aliso Creek Shopping Center, a 49,149-square-foot, fully leased community shopping center with necessity-based anchors located along the Pacific Coast Highway in the Southern California community of Laguna Beach, Calif.

“The sale of Aliso Creek Shopping Center represents a high watermark not only for Orange County but for anchored shopping centers along the West Coast,” said Gleb Lvovich, Managing Director at JLL Capital Markets, which represented the seller. “The property generated extremely strong interest and a robust buyer pool with competitive offers from both private and institutional investors. The JLL team utilized our proprietary database, marketing platform and market-leading debt advisory to uncover a unique private buyer for a world class asset.”

The sales price and the new owner were not disclosed; however it marked the highest price-per-square-foot sold for an Orange County anchored shopping center.

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