A Fullerton retail center once anchored by a Stater Bros. has changed hands for $12.6 million, or $305.08 per square foot.
Anaheim-based Kraemer Land Co., which managed the North Euclid Shopping Center at 229-333 N. Euclid St. for 21 years, sold the 41,219-square-foot retail plaza to Buena Park-based ENF Prime Hildings LLC, a company owned by Charles S. and Donna Y. Lee, per CoStar data and public documents.
The shopping center’s anchor space was occupied by Stater Bros. Markets until October 2024.
The retail center’s new owner is looking to fill the vacant anchor tenant space, which measures 21,480 square feet.
“This acquisition represented a rare opportunity to acquire a value-add shopping center in North Orange County,” Fryman said in a statement. “With several years remaining on the Stater Bros. lease, the buyer has ample time to execute their business plan, including repositioning the property and (finding a new tenant for) the former Stater Bros. space.”
The rest of the center is 100% occupied by a barber shop, chiropractic office, dentistry, hair salon and several restaurants.
The transaction was brokered by Kevin Fryman, Eric Wohl and Ed Hanley of Hanley Investment Group Real Estate Advisors.
“Orange County continues to be one of the most resilient and desirable retail investment markets in the country, driven by its high barriers to entry, affluent demographics, and dense population centers,” Fryman said in a statement. “Investor demand remains strong for well-located retail assets, especially those with value-add potential. This sale reflects continued confidence in the region’s long-term fundamentals and the strategic value of neighborhood centers in high-traffic locations.”
