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Last Updated ( Friday, 21 March 2014 14:31 )
DATE_FORMAT_LC2=Thursday,March 20 2014 12:00:00 am EDT   
CBRE and NRIG-West Sell MacArthur Plaza in Santa Ana for $10.9 Million

MacArthur Plaza Voorhees 1 webMacArthur PlazaSanta Ana, Calif. – CBRE and NRIG-West have sold the 13,468-square-foot MacArthur Plaza for $10.9 million on behalf of Los Angeles’s Fried Asset Management. The price per square foot was $809 with a cap rate of 5.7 percent. The buyer was a Los Angeles-based private investor. MacArthur Plaza's well-known tenants include Starbucks, Togo’s, Rubio’s and Thai Spice. According to CBRE Senior Vice President Philip Voorhees, “The property is the quintessential strip center investment featuring restaurant, retail and service tenancy, just the sort of property that provides a strong defense against competition from internet retailers and super rental growth over the hold period."

 — Scott Reid

 

 

 

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