News Summary
The Pique Retail Center in Anaheim has been sold for $11.3 million, fully leased and strategically located near major attractions like Angel Stadium. The transaction involved BCTC Corp and Vista Emerald LLC and highlights the growing demand for retail space in Orange County, which has a low vacancy rate of 3.7%. Investor interest in service-oriented retail centers continues to rise, reflecting robust market dynamics.
Anaheim, California – The Pique Retail Center, a fully leased retail property, has been sold for $11.3 million. The transaction was finalized between BCTC Corp, the previous owner based in Commerce, California, and Vista Emerald LLC, a purchaser located in Encinitas, California.
The retail center, located at 2406-2438 E. Katella Ave, Anaheim, California, covers a total area of 15,710 square feet. At the time of the sale, the property was fully occupied, indicating a strong demand for retail space in this prime location. Pique is strategically positioned across from Angel Stadium and lies within walking distance of the Honda Center and OCVibe, making it an attractive locale for both shoppers and businesses.
Additionally, the retail center is adjacent to Stadium Tower, a recently purchased 12-floor office tower bought for $72 million by Anaheim Ducks owner, Henry Samueli, highlighting the ongoing investment in the area.
The sale was facilitated by Hanley Investment Group, which operates out of Corona del Mar, California. The representation for BCTC Corp was handled by Lee Csenar and Ed Hanley, while Omar Hussein from Beacon Realty Advisors represented Vista Emerald LLC. The involvement of these prominent real estate firms emphasizes the significance of the transaction within the local market.
Investor interest in service-oriented retail centers continues to grow, particularly those with essential tenants in prime markets such as Orange County. This trend reflects a wider appeal for stable, income-generating properties within the region.
As of the first quarter of this year, the retail market in Orange County reported a vacancy rate of 3.7%. This low vacancy reflects strong demand for retail spaces as well as a continuing trend of limited availability. The average asking rent for retail properties in the area was noted at $2.68 per square foot at the end of March, marking an increase of $0.11 since the previous quarter in 2024. In Central Orange County, where the Pique Retail Center is located, the asking rents average $2.37 per square foot, the lowest in the county, further emphasizing the competitive nature of the market.
Moreover, data indicates that no new retail space completions occurred in the three-month period leading up to this report, contributing to a tightening market as demand continues to outstrip supply. This situation may propel prices even higher as more investors seek to capitalize on the popularity of retail spaces in desirable locations like Anaheim.
The sale of the Pique Retail Center signifies not only a transition in ownership but also a reflection of the broader economic trends shaping the retail landscape in Orange County. As investors look for stable, well-located properties, the demand for such assets is expected to keep the market dynamics robust in the near future.
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Additional Resources
- Orange County Business Journal: Anaheim Retail Center Sells for $11.3 Million
- Bisnow: Regency Centers Buys Orange County Retail Portfolio for $357M
- Fullerton Observer: Fullerton Real Estate Market Sees Significant Transactions
- Commercial Search: Irvine Co Lands $70M for Orange County Retail Center
- KTLA: Over 150 Cars Take Over Orange County Shopping Center with Reckless Driving
- Wikipedia: Real Estate in the United States
- Google Search: Anaheim Retail Market
- Google Scholar: Retail Real Estate Value Orange County
- Encyclopedia Britannica: Retail Market Trends
- Google News: Orange County Retail Transactions
Author: Anaheim Staff Writer
Anaheim Staff Writer The Anaheim Staff Writer represents the experienced team at HEREAnaheim.com, your go-to source for actionable local news and information in Anaheim, Orange County, and beyond. Specializing in "news you can use," we cover essential topics like product reviews for personal and business needs, local business directories, politics, real estate trends, neighborhood insights, and state news affecting the area—with deep expertise drawn from years of dedicated reporting and strong community input, including local press releases and business updates. We deliver top reporting on high-value events such as major conventions at the Anaheim Convention Center, including NAMM and VidCon, exciting games at Angel Stadium and Honda Center, and developments at Disneyland Resort Our coverage extends to key organizations like the Anaheim Chamber of Commerce and Visit Anaheim, plus leading businesses in hospitality, entertainment, and innovation that power the local economy As part of the broader HERE network, including HERECostaMesa.com, HEREHuntingtonBeach.com, HERESantaAna.com, and HERELosAngeles.com, we provide comprehensive, credible insights into Southern California's dynamic landscape.
