JLL Capital Markets recently closed the $151 million sale and secured $83.79 million in acquisition financing for Seacliff Village, a premier grocery-anchored shopping center located in Huntington Beach, California.
The JLL team representing the seller, Barings, included Senior Managing Directors Gleb Lvovich and Geoff Tranchina, along with Managing Director Daniel Tyner. The buyer, Asana Partners, was also procured by JLL. In addition, Senior Managing Director Anthony Fertitta Jr. and Managing Director John Marshall arranged the acquisition loan on behalf of the buyer.
Seacliff Village spans 253,234 square feet and boasts a current occupancy rate of 95.8%. It is anchored by a high-performing 69,925-square-foot Albertsons supermarket. Other notable tenants include LA Fitness, Staples, Panera Bread, Starbucks, and four banks. The property is considered an institutional-quality asset and offers substantial upside potential, with current in-place rents averaging just 80% of market rates.
“Generational assets such as Seacliff Village rarely come to market, and Seacliff Village is no exception, having been owned by the same advisor for over 20 years,” said Gleb Lvovich. “The depth of interest at strong pricing demonstrates investors’ continued interest and conviction in the retail space.”
Seacliff Village represents a strategic acquisition for Asana Partners, further expanding their portfolio of core retail assets in key markets.
