SAN JUAN CAPISTRANO, Calif. - Hanley Investment Group Real Estate Advisors, a nationally recognized real estate brokerage and advisory firm specializing in retail property sales, announced today the sale of Rancho Ortega Plaza, a two-story, 23,122-square-foot strip center anchored by Starbucks in San Juan Capistrano, California. The property sold for $9.2 million to a private 1031 exchange buyer in a seven-day escrow.
Hanley Investment Group's Executive Vice President Kevin Fryman and President Ed Hanley represented the seller, a private investor based in Orange County. The buyer, a Los Angeles-based private investor, was represented by Michael Asarch of Asarch Commercial Endeavors in Valencia, California.
"This was a rare South Orange County Starbucks-anchored strip center," said Fryman. "We generated an offer from a private 1031 buyer within one day of launching marketing and closed escrow within 30 days, including a two-day due diligence period. We structured seller financing to support the expedited closing timeline."
Fryman noted that the team proactively advised the seller to obtain third-party reports prior to marketing, enabling a streamlined due diligence process.
Rancho Ortega Plaza was 89% occupied at the time of the sale, offering the buyer value-add potential through the lease-up of the remaining first-floor vacancy. Since 2022, tenants representing 9,600 square feet have executed new leases at the center.
Located at 27211-27231 Ortega Highway (SR 74), at the signalized intersection of Rancho Viejo Road and SR 74, the property benefits from a high-traffic location with 55,000 cars per day. Starbucks (NASDAQ: SBUX; S&P: BBB+) has operated at the center since it was built in 2001. Other long-term tenants include Tannin's Wine Bar & Restaurant (since 2007), Bella Nails (since 2001), and Ortega Dental Care (since 2004).
The center serves a dense and affluent trade area with 217,000 residents and an average household income of $197,000 within a five-mile radius. The area is poised for continued growth, with nearby Rancho Mission Viejo expected to deliver 14,000 new homes at buildout and a proposed residential conversion planned across Ortega Highway at the Capistrano Business Center.
Rancho Ortega Plaza, built in 2001 on 2.21 acres, features a 95% internet-resistant tenant mix, including restaurant, medical, service, and office uses. The property is conveniently located just off the I-5 Freeway.
"Investor demand for well-located, internet-resistant retail remains strong, especially in affluent coastal markets like South Orange County," said Hanley. "Rancho Ortega Plaza offered the right mix of credit, location, and upside to support a competitive sale. This transaction also reflects our commitment to delivering speed, certainty, and strategic value for our clients, even in complex, time-sensitive scenarios."
About Hanley Investment Group
Hanley Investment Group Real Estate Advisors is a real estate brokerage and advisory services company with over a $12 billion transaction track record that specializes in the sale of retail properties nationwide. Our expertise, proven track record, and unwavering dedication to putting clients' needs first set us apart in the industry. Hanley Investment Group creates value by delivering exceptional results through the use of property-specific marketing strategies, cutting-edge technology, and local market knowledge. Our nationwide relationships with investors, developers, institutions, franchisees, brokers, and 1031 exchange buyers are unparalleled in the industry, translating into maximum exposure and pricing for each property. With unmatched service, Hanley Investment Group has redefined the experience of selling retail investment properties.
For more information, visit www.hanleyinvestment.com.
Media Contact
Company Name: Hanley Investment Group Real Estate Advisors
Contact Person: Kevin Fryman, Executive Vice President
Email: Send Email
Phone: 949.585.7674
Address:3500 East Coast Highway, Suite 100
City: Corona del Mar
State: California
Country: United States
Website: https://hanleyinvestmentgroup.com/
