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RANCHO SANTA MARGARITA, CALIF. — Colliers International has brokered the $9.6 million sale of a single-tenant retail site in the master-planned community of Rancho Santa Margarita in southern Orange County.
Located at 22331 El Paseo, the single-tenant pad totals 74,000 square feet. The all-cash transaction closed with a cap rate of 5.5 percent. A 22,000-square-foot 24 Hour Fitness facility has occupied the site since 1997. The fitness facility also includes a sub-tenant chiropractic service.
Mehran Foroughi and John Wadsworth of Colliers represented the seller, an Orange County-based private investor, in the transaction. The buyer was also a private investor.