Shea Properties Sells Retail Center in California for $45 Million

Marina, Calif. — Shea Properties has sold The Dunes, a 233,892-square-foot retail center in Marina, California, for $45 million to a Southern California-based private investor.

The shopping center was built in 2007, and is home to retailers such as Bed Bath & Beyond, Best Buy, Old Navy, Kohl’s, Party City, REI and Michaels. The center was fully leased at the time of the sale. Philip Voorhees, Kirk Brummer, Megan Wood, James Tyrrell, Jimmy Slusher and Preston Fetrow of CBRE represented the seller in the transaction.