Fullerton, Calif. — Corona del Mar, California-based Space Investment Partners has acquired Fullerton Metrocenter, a 395,703-square-foot community center located in the Orange County city of Fullerton, for $118 million. The deal marks the largest sale of a retail asset in Orange County in the past eight years, according to Eastdil Secured, who represented the seller in the transaction. Originally built in 1988 and renovated in 2002, the center is situated on roughly 30 acres near California State University Fullerton. Sprouts Farmers Market, Target and PetSmart anchor the property, which was 97 percent leased at the time of sale. Other tenants at the center include Urban Air Adventure Park and Hibbett Sports. Christopher Hoffmann, Mark Damiani and Chase Levra of Atlanta-based Eastdil Secured represented the seller, Kite Realty, in the transaction, while Greg Stampley and Jessica Henning, also of Eastdil, led the debt process. Eastdil additionally arranged acquisition financing on behalf of Space Investment Partners.
Sprouts Farmers Market, Target and PetSmart anchor Fullerton Metrocenter, a 395,703-square-foot retail center located in Fullerton, California, which recently sold for $118 million, marking the largest sale of a retail asset in Orange County in the past eight years.
Space Investment Partners Acquires 395,703-Square-Foot Retail Center in Fullerton, California, for $118 Million
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