Mission Viejo, Calif. — A partnership between Hanley Investment Group and Walseth Investment Co. has arranged the sale of a 51,312-square-foot shopping center located at 24011-24031 Marguerite Parkway in Mission Viejo, for $11.6 million. A 37,118-square-foot Orchard Supply Hardware store formerly anchored the property, which occupied more than 72 percent of the center. Originally built in 1973 and renovated in 2016, the center sits on 3.4 acres and includes a mix of tenants including A Cut Above, Little Caesars Pizza and Leslie’s Pool Supplies.
Kevin Fryman, Bill Asher and Ed Hanley of Hanley Investment Group represented the seller, a Denver-based private investment company, in the transaction. Michael Walseth of Walseth Investment Co. represented the all-cash buyer, an Orange County, California-based regional grocery store operator.