Institutional Property Advisors Exclusively Lists Mixed-Use Medical and Retail Center for Sale in Greater Los Angeles
September 03, 2024
YORBA LINDA, Calif., Aug.30, 2024 –– Institutional Property Advisors (IPA), a division of Marcus & Millichap (NYSE: MMI), announced today the exclusive listing for sale of Home Ranch Commons, a 60,737-square-foot mixed-use medical and retail center anchored by UCI Health in Yorba Linda, California. The price is open bid.
“The offering includes assumable financing of $20.4 million at 3.74% interest only through 2030, which provides massive cash-on-cash potential,” said Tom Lagos, IPA executive director. Lagos, IPA’s Patrick Toomey, Mark DeGiorgio, and Jose Carrazana are representing the seller, Home Ranch Community Center LLC. “This essential North Orange County location for UCI generates 42% of the property’s revenue, and UCI has infused it with significant capital improvements,” said DeGiorgio.
Located along Yorba Linda Boulevard, utilized by over 30,000 cars per day, the property is shadow anchored by a Stater Bros. grocery store, the Yorba Linda Public Library and Cultural Arts Center, and Yorba Linda Town Center. UCI’s Placentia Linda Hospital is two miles from the center. Within a one-mile radius, the average annual household income is over $146,000.
Built in 1984 and renovated in 2018, Home Ranch Commons is co-anchored by a newly remodeled Kiddie Academy. The center’s tenant roster includes Blue Agave, YL Family Chiropractic, Bodhi Leaf Trading Co., Coder School, and Torkian Aesthetic Center.
“The offering includes assumable financing of $20.4 million at 3.74% interest only through 2030, which provides massive cash-on-cash potential,” said Tom Lagos, IPA executive director. Lagos, IPA’s Patrick Toomey, Mark DeGiorgio, and Jose Carrazana are representing the seller, Home Ranch Community Center LLC. “This essential North Orange County location for UCI generates 42% of the property’s revenue, and UCI has infused it with significant capital improvements,” said DeGiorgio.
Located along Yorba Linda Boulevard, utilized by over 30,000 cars per day, the property is shadow anchored by a Stater Bros. grocery store, the Yorba Linda Public Library and Cultural Arts Center, and Yorba Linda Town Center. UCI’s Placentia Linda Hospital is two miles from the center. Within a one-mile radius, the average annual household income is over $146,000.
Built in 1984 and renovated in 2018, Home Ranch Commons is co-anchored by a newly remodeled Kiddie Academy. The center’s tenant roster includes Blue Agave, YL Family Chiropractic, Bodhi Leaf Trading Co., Coder School, and Torkian Aesthetic Center.
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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.