Sperry Van Ness negotiated the sale of a 107,687-square-foot shopping center in Santa Ana, Calif., for $20.5 million.
An Albion, Calif.-based private investor purchased the property from an Oxnard-based private liability company through a 1031 exchange with an apartment property.
The property, located at 1800 N. Bristol St., was built in 2005 and was 100 percent occupied at the time of sale by tenants that included Kohl’s, Sprint, UPS Store and Countrywide Home Loans. Ralphs, CVS Pharmacy and Target shadow-anchor the property but were not part of the transaction.
Irvine, Calif.-based Sperry Van Ness is one of the largest commercial real estate investment brokerage firms in the United States with more than 800 advisors in 36 states.