An undisclosed buyer bought a 23.5-year leasehold interest in a retail portfolio on the corner of Warner Avenue and Euclid Boulevard in Fountain Valley, earlier this month.
That buyer paid $12.1 million for the five-property, 47000-square-foot Warner-Euclid Plaza, which is anchored by a Stater Brothers market.
The deal was confirmed by CoStar data and the Orange County office of real estate advisory firm Marcus & Millichap.
Ron Duong of Marcus & Millichap’s Orange County office represented both the buyer and seller.
The seller was also not disclosed.
“The sale was unique in that the Buyer purchased a 23.5-year leasehold interest in the real estate for a 7.4% CAP rate (and) $253.75 per square foot,” Jonathan Giannola, a vice president and regional manager at Marcus & Millichap, said in an email. “The property is fully occupied and received numerous offers during the marketing process.”
Other tenants include China Bowl Express, Hot C Pot and Waba Grill.
