Value-Add Neighborhood Retail Center – North Orange County

Highlights:

• • Significant mark-to-market opportunity across majority of rent roll
• • High concentration of month-to-month tenants enabling immediate repositioning
• • Large-format restaurant/bar space with potential early recapture
• • Below-market in-place rents relative to current leasing comps
• • Functional neighborhood center with diverse tenant mix
• • Opportunity for façade renovation and branding repositioning
• • Flexible suite configurations for remerchandising strategy
• • Located in supply-constrained North Orange County retail market
• • In-place NOI with clear path to growth through active management

Description:

The Offering presents a rare opportunity to acquire a high-visibility, multi-tenant retail center with significant embedded upside through repositioning, lease restructuring, and active asset management.

The property is currently characterized by a fragmented rent roll with a large concentration of month-to-month tenants and below-market rents, creating an immediate mark-to-market opportunity for an incoming investor. In-place rents across a significant portion of the tenancy fall well below prevailing market levels, allowing for meaningful NOI growth through strategic tenant turnover, rent resets, and remerchandising.

Additionally, the asset offers a compelling value-add component through the potential recapture and repositioning of larger-format space, including a legacy restaurant/bar user that has indicated a willingness to vacate early. This creates a unique opportunity to reconfigure and modernize a prominent portion of the center to attract higher-credit, higher-rent tenants aligned with current retail demand.

From a physical standpoint, the center benefits from strong street frontage along Yorba Linda Boulevard and functional site layout, but presents clear opportunities for cosmetic and branding enhancements. A targeted capital program focused on façade improvements, signage modernization, and site upgrades would materially improve tenant demand and leasing velocity.

This offering is best suited for experienced private investors or owner-operators seeking to unlock value through hands-on leasing, strategic repositioning, and disciplined capital deployment.

The Property offers multiple, clearly identifiable levers for value creation:

• Mark-to-Market Rent Opportunity
A substantial portion of the tenancy operates on month-to-month leases at rates significantly below current market levels, providing immediate upside through rent normalization and structured lease-up.

• Lease-Up & Tenant Repositioning
The existing tenant mix includes a number of legacy and service-oriented users with low barriers to relocation. Strategic remerchandising allows for the introduction of stronger retail, food, and service concepts better aligned with current demand.

• Large-Format Recapture Opportunity
The ±5,200 SF restaurant/bar space presents a unique opportunity for recapture and redevelopment, with the current tenant signaling potential early exit. This space can be reconfigured, demised, or repositioned for a higher-performing anchor or experiential retail use.

• Below-Market Rent Profile
Current rents in several suites range from approximately $1.30–$1.65/SF MG and ~$2.30–$2.70/SF NNN , materially below achievable market rents, creating a clear path to NOI growth.

• Physical Repositioning Upside
The asset would benefit from a targeted exterior renovation program, including façade modernization, improved signage, and branding upgrades—enhancements that have historically driven meaningful leasing traction and rental rate increases in similar centers.

• Fragmented Lease Structure
The absence of long-term encumbrances across much of the rent roll provides flexibility rarely available in stabilized retail assets, allowing an investor to reshape the tenancy and optimize layout over time.

The Offering is strategically positioned along a primary east-west thoroughfare serving the Orange County submarkets. The property benefits from strong street visibility and convenient access to surrounding residential neighborhoods.

The site is located within close proximity to major regional arterials and freeways providing connectivity to the broader North Orange County trade area.

The surrounding retail corridor features a mix of national and regional retailers, daily-needs services, and food operators, driving consistent consumer traffic and supporting long-term retail viability.

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