SANTA ANA, CALIF. — Marcus & Millichap has arranged the sale of Hacienda Plaza, a retail and medical office property located at the corner of West 17th Street and College Avenue in Santa Ana. A private 1031 exchange investor acquired the 77,610-square-foot asset for $16.7 million, or $215 per square foot.
The two-building property comprises a 28,800-square-foot retail/medical building on 17th Street and a 29,310-square-foot medical/warehouse building on 19th Street. Built in 1976, the properties are occupied by Northgate Market, Don Roberto Jewelers and Hacienda Restaurant.
Michael Lawrence and Michael Woolbright of Marcus & Millichap represented the seller, while Rob Duong, also of Marcus & Millichap, represented the buyer in the transaction.