A partnership led by Anderson J. Ray Development Co., Irvine, has acquired the Santa Margarita Town Center retail center in Rancho Santa Margarita from the Koll Co. and Metropolitan Life Insurance Co. for $22 million.
Tenants at the 151,445-square-foot center in Rancho Santa Margarita include Target, Trader Joe’s and The Gap.
Bob Crisell, senior vice president with Lee & Associates’ Riverside office, represented the buyers; Grubb & Ellis represented the sellers.
,The Business Press, Ontario
