Dealmaker: Marcus & Millichap Closes $37M Orange County Shopping Center Sale

(Bristol Place, Santa Ana, Calif.)

Marcus & Millichap, Calabasas, Calif., sold and financed Bristol Place, a 61,454-square-foot shopping center in Santa Ana, Calif.

Constructed in 1986 and renovated in 2019, Bristol Place sits on S Bristol Street, one mile from the intersection of Interstate 405 and California State Routes 55 and 73. The property sold for $36.5 million.

Ron Duong, senior managing director of investments in Marcus & Millichap’s Orange County office, represented the private investor buyer. Kevin Fryman, executive vice president with Hanley Investment Group, Corona Del Mar, Calif., represented the seller.

“With one of the lowest vacancy rates in California and on track to post a sixth consecutive year of positive rent growth, Orange County remains one of the most desirable markets for retail investors in the nation,” Duong said. “Bristol Place is located a block from one of the nation’s top-grossing shopping centers, South Coast Plaza, and is across the street from the upcoming 41-acre mixed-use development, Related Bristol, which looks to reshape the landscape of the South Coast Metro region for years to come.”

Ronald Balys, senior vice president of capital markets with Marcus & Millichap Capital Corp., arranged acquisition financing for the property.