MISSION VIEJO, Calif., Sept. 25, 2020 – Institutional Property Advisors (IPA), a division of Marcus & Millichap (NYSE: MMI), announced today the exclusive listing for sale of Los Alisos Village, a completely remodeled 27,474-square-foot neighborhood shopping center in Mission Viejo, California. The price is $15.3 million.
“Los Alisos Village is occupied by established, long-term ‘daily needs’ retail service tenants that provide outdoor dining and professional services to over 65,000 people working within a 20-minute drive and more than 60,000 households within a three-mile radius,” said Bill Rose, IPA senior managing director. “The center is in a high-barrier-to-entry market with little-to-no land for development and substantially high redevelopment costs.” Rose and IPA’s Michael Kasser are representing the seller, Shopoff Realty Investments. “Up to five years of interest-only acquisition financing is available with a potential loan-to-value of 65%,” added Anita Paryani-Rice, IPA senior vice president capital markets.
Los Alisos Village is located on four acres at the fully signalized intersection of Los Alisos Boulevard and Trabuco Road adjacent to Interstate 5, which provides easy access from both Orange County and San Diego. Highpark Business Center, with a daytime workforce of over 11,000 employees, is a short drive away. Saddleback College is six miles from the property, the University of California Irvine and Chapman University are a half-hour away and average household income within a three-mile radius is more than $136,000.
Opened in 1982, Los Alisos Village was entirely refurbished in 2020 with two outdoor patios and seating amenities, flagstone façades, street pavers, new landscape and roofing. Long-time retailers include AutoZone, Baskin-Robbins, Alisos Animal Hospital, All Star Pizza, a family dental practice, Little Chopsticks, Aqua Paradise, The Mud Puppy Do It Yourself Dog Wash And Spa! and Taco Mesa.
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About Institutional Property Advisors (IPA)
Institutional Property Advisors (IPA) is a division of Marcus & Millichap (NYSE: MMI), a leading commercial real estate services firm in North America. IPA’s combination of real estate investment and capital markets expertise, industry-leading technology, and acclaimed research offer customized solutions for the acquisition, disposition and financing of institutional properties and portfolios. For more information, please visit www.institutionalpropertyadvisors.com