Gerrity Group Sells Gateway Center Retail Property in Mission Viejo, California to DJM Capital for $39.5M

by Amy Works

MISSION VIEJO, CALIF. — Gerrity Group has completed the disposition of Gateway Center, a retail destination in Orange County’s Mission Viejo. San Jose-based DJM Capital acquired the asset for $39.5 million.

Completed in 1979, Gateway Center features 79,001 square feet of retail space. Current tenants include Starbucks Coffee, Cold Stone Creamery, Subway, Baja Fresh, Happy Minds Academy, Oggi’s, San Diego Credit Union, Gateway Liquor, Dance Daly Ballroom, Fit Pilates, Thai Body Works, Saddleback Urgent Care, Sweet Pediatric Dental and French’s Pastry.

The property is located on 7.3 acres at 23972-24042 Alicia Parkway.

Gleb Lvovich, Bryan Ley and Geoff Tranchina of JLL Retail Capital Markets represented the seller in the transaction. Jeff Sause and John Marshall of JLL Debt Placement arranged a three-year, floating-rate acquisition loan for the buyer.

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