Buena Park Promenade sells for $23M

Retail site converted from Kmart store

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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. ...