ABDELMUTI DEVELOPMENT CO. ACQUIRES 10,118-SF RETAIL STORE FOR $6.2M

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SAN CLEMENTE, CALIF. — Abdelmuti Development Co. LLC has acquired a 10,118-square-foot retail store, which is located at 166-176 Avenida del Mar in San Clemente. The property sold for $6.206 million or more than $600 per square foot. The property is slated to become Orange County’s sixth Jack’s Surf & Sport retail store. The store is scheduled to open in the first half of 2009. David Knowlton of NAI Capital’s Newport Beach, Calif., office represented the buyer; Dennis Weisberg and Steven Bunge of Marcus & Millichap represented the seller, a private partnership.

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