Cape Point Development Buys La Paz Village Shopping Center in Laguna Hills for $23.5 Million

Laguna Hills, Calif. — Cape Point Development has acquired La Paz Village, a neighborhood shopping center in Laguna Hills. A consortium of private investors sold the property for $23.5 million. Built in 1974 and refurbished in 2012, La Paz Village features 54,566 square feet of retail space. Bill Rose of Institutional Property Advisors, a division of Marcus & Millichap, along with Steven Siegel, Glen Kunofksy and Anthony D’Ambrosia of Marcus & Millichap represented the seller, while Rose procured the buyer in the deal. Damon Wyler of Marcus & Millichap served as broker of record in California.