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Trade Marketplace
2 Retail Properties in Irvine, CA
Investment Highlights
- Irreplaceable Orange County Retail Center
Executive Summary
CALL FOR OFFERS WEDNESDAY, OCTOBER 9, 2024
*Trophy Retail Center Investment – Few retail center assets come to market in Orange County, let alone in the highly-coveted, affluent master-planned community of Irvine, making this an extremely rare and compelling investment opportunity
*Optimal Tenant Mix, Configuration – With its diverse and curated tenant mix consisting of food, beverage, and wellness tenants combined with its indoor/outdoor food hall and communal dining component, this is an optimally positioned Orange County retail center serving local and destination-oriented customers
*Established, Thriving Retail Center – Since its repositioning in 2017, the center has thrived, as witnessed by its stable historical occupancy and strong tenant sales
-14 tenants have occupied for 5+ years and 11 tenants for 7+ years
-16 tenants have signed leases since 2021, a testament to the quality of the property and its location post-COVID
-Strong tenant sales property-wide with many tenants generating sales over $1,000 PSF
*Significant Income Growth – Through scheduled rental increases and rolling below-market rents to market, the NOI is projected to increase more than $769,000 (49%) over the hold period with a 4.0% compound annual growth rate (CAGR)
*Irreplaceable Retail Real Estate – With its Irvine location, little to no land remaining in the trade area for large scale retail development, and traditional retail center configuration, this center would not likely be developed today – making it irreplaceable real estate and an excellent “land bank with income” opportunity
*Remarkably Affluent Demographics – Orange County is one of the most desirable locations in the country with Irvine highly ranked county and statewide in many facets.
*More than 13,000 people within a 1-mile radius with $105,000 AHI, 161,000 people within a 3-mile radius with $123,000 AHI, and 533,000 people within a 5-mile radius with $124,000 AHI
*Daytime population exceeding 77,000 people (±91% employees) within a 1-mile radius and over 329,000 people (±75% employees) within a 3-mile radius
*Trophy Retail Center Investment – Few retail center assets come to market in Orange County, let alone in the highly-coveted, affluent master-planned community of Irvine, making this an extremely rare and compelling investment opportunity
*Optimal Tenant Mix, Configuration – With its diverse and curated tenant mix consisting of food, beverage, and wellness tenants combined with its indoor/outdoor food hall and communal dining component, this is an optimally positioned Orange County retail center serving local and destination-oriented customers
*Established, Thriving Retail Center – Since its repositioning in 2017, the center has thrived, as witnessed by its stable historical occupancy and strong tenant sales
-14 tenants have occupied for 5+ years and 11 tenants for 7+ years
-16 tenants have signed leases since 2021, a testament to the quality of the property and its location post-COVID
-Strong tenant sales property-wide with many tenants generating sales over $1,000 PSF
*Significant Income Growth – Through scheduled rental increases and rolling below-market rents to market, the NOI is projected to increase more than $769,000 (49%) over the hold period with a 4.0% compound annual growth rate (CAGR)
*Irreplaceable Retail Real Estate – With its Irvine location, little to no land remaining in the trade area for large scale retail development, and traditional retail center configuration, this center would not likely be developed today – making it irreplaceable real estate and an excellent “land bank with income” opportunity
*Remarkably Affluent Demographics – Orange County is one of the most desirable locations in the country with Irvine highly ranked county and statewide in many facets.
*More than 13,000 people within a 1-mile radius with $105,000 AHI, 161,000 people within a 3-mile radius with $123,000 AHI, and 533,000 people within a 5-mile radius with $124,000 AHI
*Daytime population exceeding 77,000 people (±91% employees) within a 1-mile radius and over 329,000 people (±75% employees) within a 3-mile radius
Property Facts
| Sale Type | Investment | Individually For Sale | 0 |
| Status | Active | Total Building Size | 32,560 SF |
| Number of Properties | 2 | Total Land Area | 1.43 AC |
| Sale Type | Investment |
| Status | Active |
| Number of Properties | 2 |
| Individually For Sale | 0 |
| Total Building Size | 32,560 SF |
| Total Land Area | 1.43 AC |
Properties
| Property Name / Address | Property Type | Size | Year Built | Individual Price |
|---|---|---|---|---|
|
Trade Marketplace
2272 Michelson Dr, Irvine, CA 92612 |
Retail | 8,965 SF | 1989 | - |
| 2222 Michelson Dr, Irvine, CA 92612 | Retail | 23,595 SF | 1989 | - |
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