Muirlands Properties, which is managed by a private family trust, bought a 20,300-square-foot multi-tenant retail center next to Fullerton College in downtown Fullerton for $12.7 million, or about $625 per square foot.
Pacific Riviera Collection LLC sold the Fullerton Court at 444 N. Harbor Blvd.
The two-story retail center, which is about a 10-minute walk from Fullerton College, is fully leased to tenants including Wahoo’s, FedEX and BodyXChiro.
The property sold at a 6.5% cap rate
Sean Cox and Kevin Fryman of Hanley Investment Group, along with Scott Hook of Summit RE, represented the seller. The buyer, a private 1031-exchange investor based in Los Angeles, represented themselves.
