SPERRY
VAN NESS COMPLETES THE SALE OF THE PLAZA AT HUNTINGTON BEACH IN
HUNTINGTON BEACH, CALIF., FOR $36.2 MILLION
Huntington
Beach,
CA,
May 20, 2004
– Sperry Van
Ness, one of the nation’s premier commercial real estate
investment brokerage firms, has completed the sale of the Plaza
At Huntington Beach to First Huntington Center LP, for $36.2
million. The 301,947 square foot retail center and 15-story
office tower sits on 8.5 acres of land taking up an entire block
at Warner Avenue and Beach Boulevard in Huntington Beach, Calif.
Fouy Ly, Senior Advisor for Sperry Van Ness in Irvine,
Calif., represented the buyer, First Huntington Center LP, based
in Irvine, Calif. Robert Mitchell, Alan Pekarcick and Dan
Vittone of Voit Commercial Brokerage represented the seller, LIU
Corporation, based in Los Angles, Calif.
“Investors are continually seeking well-located mixed-use
properties which provide excellent return on investment,” said
Ly. “Because of its upside potential, investors are paying top
dollar for even moderately occupied mixed-use properties in
premier markets such as Orange County.”
Originally built in 1985, the center consists of a 200,869
square foot, class A office tower, 110,000 square feet of retail
space and a six-story parking structure. The Plaza is 65 percent
leased to such tenants as an Edwards Theatre, Chili’s
restaurant, Bally Total Fitness and a Tony Roma restaurant.
