Grubb & Ellis Co. represented Red Mountain Retail Group in the sale of a portion of Buena Park Promenade, a 103,973-square-foot retail property in Buena Park, Calif.
The transaction was valued at $23 million.
A private family trust purchased the property, which is located at the northwest corner of Lincoln Boulevard and Valley View Street.
The property was a former Kmart-anchored center that Red Mountain converted to a specialty neighborhood center anchored by Marshall’s, Jo-Ann Fabrics and dd’s DISCOUNTS.
Grubb & Ellis Co. is a full-service commercial real estate organization operating worldwide.