IPA Negotiates $25.3M Sale of Long-Term Ground Lease for Nohl Plaza in Orange, California

by Amy Works

ORANGE, CALIF. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has brokered the $25.3 million sale of the leasehold interest in a long-term ground lease at Nohl Plaza in Orange.

Tom Lagos, Patrick Toomey and Jose Carrazana of IPA, along with Joe Linkogle of Marcus & Millichap, represented the seller, Nohl Plaza LLC, and procured the undisclosed buyer in the deal.

Built between 1966 and 1979 on more than 10 acres, Nohl Plaza features 103,639 square feet of retail space. Current tenants include Vons, Starbucks Coffee, Del Taco, Bank of America, the Tartan Room restaurant and Union 76 gas station.

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