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Mission Viejo Shopping Center Sells for $51 Million

DJM sells Gateway Center after buying it in 2021 for $39.5 million

Orange County-based private equity real estate and development firm DJM has sold the Gateway Center in Mission Viejo to an undisclosed institutional buyer for $51 million in an all-cash deal.

DJM officials said the Gateway Center, located at 24000 Alicia Parkway, was 97% leased at the time of sale. The tenants include Starbucks, Baja Fresh, Saddleback Family & Urgent Care and Chase.

DJM acquired Gateway Center in December 2021 from Gerrity Group for $39.5 million.

“Our investment thesis focused on high-quality, densely populated suburban markets like Mission Viejo,” DJM Chief Executive Officer Rob Miller said in a statement.

For more details, read the 2/2 issue of the Business Journal. 

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Nancy Luna
Nancy Luna
Nancy Luna has been the executive editor of the Orange County Business Journal since September 2024. Nancy began her career 30 years ago at the Orange County Register, where she covered a range of beats, including retail, consumer trends, transportation, healthcare, and tourism. Before coming to the Business Journal, she previously worked as a correspondent for Business Insider’s Retail team, where she specialized in writing about the restaurant and food tech industries. Luna contributed to the Business Insider team that won a 2023 SABEW Award for explanatory journalism for their "Warehouse Nation" project. From 2018 to 2020, Luna was a senior editor and tech editor at Nation’s Restaurant News. While there, she covered the largest chains in the country including Taco Bell, McDonald's, Chipotle Mexican Grill and Starbucks. Luna grew up in Orange County and lives in Old Towne Orange with her husband, Brady.
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