Gerrity Group Sells Gateway Center Retail Center to DJM Capital for $39.5 Million

Million Viejo, Calif. — Gerrity Group has completed the disposition of Gateway Center, a retail center in Orange County’s Mission Viejo. San Jose-based DJM Capital acquired the asset for $39.5 million. Completed in 1979, Gateway Center features 79,001 square feet of retail space. Current tenants include Starbucks Coffee, Cold Stone Creamery, Subway, Baja Fresh, Happy Minds Academy, Oggi’s and San Diego Credit Union. The property is located on 7.3 acres at 23972-24042 Alicia Parkway. Gleb Lvovich, Bryan Ley and Geoff Tranchina of JLL Retail Capital Markets represented the seller in the transaction. Jeff Sause and John Marshall of JLL Debt Placement arranged a three-year, floating-rate acquisition loan for the buyer.

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