**Starbucks-Anchored Rancho Ortega Plaza Sells for $9.2 Million in 1031 Exchange**
Hanley Investment Group Real Estate Advisors has successfully closed the sale of Rancho Ortega Plaza, a two-story, 23,122-square-foot retail strip center located in San Juan Capistrano. Anchored by Starbucks, the property sold for $9.2 million to a private 1031 exchange buyer in a fast-tracked seven-day escrow.
The transaction was brokered by Kevin Fryman, Executive Vice President, and Ed Hanley, President of Hanley Investment Group, who represented the seller — a private investor based in Orange County. The Los Angeles-based buyer was represented by Michael Asarch of Asarch Commercial Endeavors, based in Valencia.
“This was a rare South Orange County Starbucks-anchored strip center,” said Fryman. “We generated an offer from a private 1031 buyer within one day of launching marketing and closed escrow within 30 days, including a two-day due diligence period. We structured seller financing to support the expedited closing timeline.”
Located at 27211-27231 Ortega Highway, Rancho Ortega Plaza was 89% occupied at the time of sale. The buyer sees value-add opportunity through the lease-up of the remaining first-floor vacancy.
