CalBay Development Acquires STNL Outback Steakhouse in Foothill Ranch

FOOTHILL RANCH, CALIF. — CalBay Development LLC has acquired, via an off-market transaction, the STNL Outback Steakhouse in Foothill Ranch for $1.85 million. The site sits within the Foothill Ranch Town Center, a 130-acre retail project with tenants including Target, Regal Cinemas, Walmart, CVS, Ralphs, Hobby Lobby, Michaels and Old Navy.

Hon Development, part of the original property developer partnership of Foothill Ranch Town Center, was the seller.