La Palma investor Peter Yu is the new owner of a four-property portfolio at Warner Marketplace in Fountain Valley.
Yu, through his company WMYU LLC, bought the Warner Marketplace portfolio from New York-based Fortress Investment Group for $24.5 million on March 6, according to CoStar data and public documents.
Huntington Beach-based DJM Capital Partners Inc. was also listed as a seller.
The four properties that are a part of the deal are at 17070 Magnolia St., 17020-17150 Magnolia St., 17048 Magnolia St. and 17130 Magnolia St., per CoStar.
All four properties have a footprint of 61,450 square feet and were collectively sold for $398 per square foot.
Retail tenants at Warner Marketplace include Goodwill Industries of Orange County, Turkish Kitchen, The UPS Store, Golden Spoon, Winchell’s Donut House, U.S. Bank, CVS Pharmacy and Aldi.
Fortress Investment Group bought Warner Marketplace from Merlone Geier Management Inc. as part of a 22-property, $151 million sale in March 2022.
Warner Marketplace, according to JLL, was built in 1974 and renovated in 2019.
