Sunflower Metro Buys Sunflower Plaza in Santa Ana for $9.5M
SANTA ANA, CALIF. — Sunflower Plaza Co. has completed the sale of Sunflower Plaza, a shopping center located at 3929-3941 S. Bristol St. in Santa Ana. Sunflower Metro LLC, a company owned by former NBA player Josh Childress, acquired the asset for $9.5 million.
Built in 1979 and renovated in 2014, the 27,000-square-foot property is subject to a 30-year ground lease. Situated on 2.66 acres, the two-building property is anchored by Bank of the West, The Vitamin Shoppe, Panera Bread, Jersey Mike’s Subs and zpizza.
Fouy Ly of Kidder Mathews represented the seller in the deal. Sunflower Plaza Co. is the original developer and this is first time the asset has sold in the last 40 years.
Eyzenberg & Co., as financial advisor to Childress Ventures, secured a $7.4 million CMBS loan with a 20-year amortization through Morgan Stanley to fund the acquisition. Jeff Conti and Mila Babenko of Eyzenberg & Co. arranged the financing.