MISSION VIEJO, CALIF. — Hanley Investment Group Real Estate Advisors and Walseth Investment Co. have negotiated the $11.6 million sale of a shopping center located at 24011-24031 Marguerite Parkway in Mission Viejo.
Kevin Freeman, Bill Asher and Ed Hanley of Hanley Investment Group represented the seller, a Colorado-based private investment company, while Michael Walseth of Walseth Investment Co. represented the buyer, an Orange County, Calif.-based regional grocery store operator, in the transaction.
Built in 1973 on 3.4 acres, the shopping center offers 51,312 square feet of retail space. Current tenants include A Cut Above, Little Caesars and Leslie’s Pool Supplies. The vacant, 37,118-square-foot Orchard Supply Hardware store comprises more than 72 percent of the center’s total square footage. The asset underwent a facade remodel in 2016.