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Irvine, Calif. — Buyer plans to lease and re-parcel center that was built from the 1960s to the 1990s.
Irvine, Calif. — Milan Capital Management has purchased a 115,000-square-foot, grocery-anchored shopping center in Santa Fe Springs, Calif., for $23 million from F.J. Hanshaw Properties, which owned it for nine years. The center is 90 percent occupied.
Milan Capital plans to pursue the leasing of the remaining vacant space and separately parcel up the pad buildings for their potential sale as a single-tenant, net-leased investments.
George Prince of Prince Commercial Real Estate represented the buyer and seller in this transaction.