JLL Capital Markets closed the $151-million sale and $83.79-million acquisition loan for Seacliff Village, a core grocery-anchored shopping center in Huntington Beach. Senior managing directors Gleb Lvovich and Geoff Tranchina and managing director Daniel Tyner represented the seller, Barings, and procured the buyer, Asana Partners. Senior managing director Anthony Fertitta Jr. and managing director John Marshall arranged the acquisition financing on behalf of the buyer.
The 253,234-square-foot Seacliff Village is 95.8% occupied, anchored by a high-performing 69,925-square-foot Albertsons store. The tenant roster includes LA Fitness, Staples, Panera Bread, Starbucks and four banks. The institutional-quality asset offers compelling upside potential, with in-place rents at only 80% of market rates.
“Generational assets such as Seacliff Village rarely come to market and Seacliff Village is no exception, having been owned by the same advisor for over 20 years,” said Lvovich. “The depth of interest at strong pricing demonstrates investor’s continued interest and conviction in the retail space.”
The post Asana Snaps Up Grocery-Anchored Huntington Beach Center for $151M appeared first on Connect CRE.
