North Orange County deal tops $21 million

Buyer attracted by 'value-add potential'

The Bryant Ranch Shopping Center in Yorba Linda, Calif., has sold to a limited liability company for approximately $21.9 million. Newport Beach, Calif.-based Bryant Ranch Partners unloaded the property on Arcadia, Calif.-based First Duarte Bryant Ranch LLC via a 1031 exchange. The 89,692-square-foot property, located at 23621-23741 E. La Palma Ave., is situated on 9.4 acres and was fully occupied at the time of sale. According to brokerage Faris Lee, which handled the sale, the property offers "value-add potential" by "bringing the below-market rents up to current rates as well as signing new tenants." ...