Puerta Real Plaza
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Puerta Real Plaza
2 Retail Properties in Mission Viejo, CA
Executive Summary
Puerta Real Plaza is a 61,000 square foot community shopping center located along Interstate 5 at the Crown Valley Parkway and Interstate 5 interchange. The center is anchored by Target, America’s favorite destination. Target is a part of the collateral; unique as over 80% of Target stores in the United States are either owned or under a ground lease structure. While the tenant roster of Puerta Real Plaza certainly stands on its own, Target has a dramatic influence on customer count and serves to expand the center’s trade area beyond traditional lines. The acquisition of Puerta Real Plaza presents a unique value-add component as current occupancy stands at 90% (by design). Its investor has the luxury of exploring the advantages of a simple lease-up strategy or the possibility of a more aggressive pad redevelopment effort. Either route delivers a growth profile rarely found in such a well-located and dominant center, especially along the Southern California coastline. The remaining tenant roster boasts highly successful internet-resistant tenants (AAA, UPS) as well as a cozy, local gathering spot in Costello’s Tavern- an important neighborhood favorite since 2008.
True value-add retail investments are a rarity in today’s competitive shopping center environment. An opportunity such as Puerta Real Plaza in the core Southern California region of Orange County, and in the affluent submarket of Mission Viejo, make this offering especially unique. Its prime regional location, with Target as an anchor and a part of the collateral, should place Puerta Real Plaza at the top of investment priorities.
True value-add retail investments are a rarity in today’s competitive shopping center environment. An opportunity such as Puerta Real Plaza in the core Southern California region of Orange County, and in the affluent submarket of Mission Viejo, make this offering especially unique. Its prime regional location, with Target as an anchor and a part of the collateral, should place Puerta Real Plaza at the top of investment priorities.
Property Facts
| Sale Type | Investment | Individually For Sale | 0 |
| Status | Active | Total Building Size | 75,268 SF |
| Number of Properties | 2 | Total Land Area | 6.92 AC |
| Sale Type | Investment |
| Status | Active |
| Number of Properties | 2 |
| Individually For Sale | 0 |
| Total Building Size | 75,268 SF |
| Total Land Area | 6.92 AC |
Properties
| Property Name / Address | Property Type | Size | Year Built | Individual Price |
|---|---|---|---|---|
| 27529-27573 Puerta Real, Mission Viejo, CA 92691 | Retail | 61,034 SF | 1973 | - |
| 27525 Puerta Real, Mission Viejo, CA 92691 | Retail | 14,234 SF | 1974 | - |
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Puerta Real Plaza
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