**OC Grocery Operator Acquires Value-Add Shopping Center in Mission Viejo for $11.63M**
Hanley Investment Group Real Estate Advisors, in collaboration with Walseth Investment Company, has completed the sale of a 51,312-square-foot retail center in Mission Viejo, California. Formerly anchored by Orchard Supply Hardware, the shopping center is located at 24011-24031 Marguerite Parkway and was sold for $11.63 million.
Hanley Investment Group’s Executive Vice Presidents Kevin Fryman and Bill Asher, along with company President Ed Hanley, represented the seller, a private investment company headquartered in the Denver metro area. Michael Walseth, president of Walseth Investment Company, represented the buyer, a regional grocery store operator based in Orange County.
“We procured multiple competitive offers from private investors, mid-market buyers, and owner/users, ultimately securing an all-cash private buyer,” said Fryman. “This transaction involved navigating and resolving several complex challenges.”
Michael Walseth noted, “As the user of the space, our buyer was in a unique position to acquire the property and allow the seller the ability to monetize the vacant Lowe’s space. It’s a ‘win-win’ for both parties—maximizing proceeds for the seller while providing the buyer a favorable basis well below replacement cost.”
The acquisition presents a value-add opportunity for the buyer, who will occupy and reposition the property within the local retail market.
