Grubb & Ellis represented Pan Pacific Retail Properties, a Vista, Calif.-based real estate investment trust, in the purchase of a 492,000-square-foot shopping center in Anaheim, Calif.
The transaction was valued at $57 million.
Anaheim Plaza is located on Euclid Street at the Santa Ana Freeway. Tenants in the center, which was 96 percent leased at the time of sale, include a recently opened 54,000-square-foot Gigante Supermarket, CompUSA, Ross Dress for Less, Smart & Final and Mervyns. The center also includes a 146,000-square-foot Wal-Mart, which was not part of the sale.
California State Teachers’ Retirement System was the seller.
Dixie Walker and Mike Randall of Grubb & Ellis’ Newport Beach office represented the buyer and the seller in the transaction.
Grubb & Ellis is a global provider of integrated real estate services.
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