Santa Ana, Calif.-based Triple Net sold the 77,000-square-foot retail shopping center on behalf of tenant-in-common investors. The sale closed earlier this month, Chief Investment Officer Jeff Hanson says.
The property was built in 1981 at the intersection of Walzem Road and Eagle Crest Boulevard. It is leased to several tenants, including Blockbuster, Family Dollar, Aaron's Rents and H&R Block.
Richard Walter of Faris Lee Investments was the broker in the transaction. The tenant-in-common investors originally bought the property back in August 2001.
Triple Net Properties is a wholly owned indirect subsidiary of Grubb & Ellis Co., a real estate services and investment management firm. Triple Net and its affiliates manage a portfolio of nearly 39 million square feet of real estate with a combined market value in excess of $5.4 billion.
Parkford Properties is an Encino, Calif.-based real estate company.
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source: bizjournals.com
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