{"id":1004651728,"date":"2023-03-16T06:37:12","date_gmt":"2023-03-16T14:37:12","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004651728"},"modified":"2023-03-16T06:37:14","modified_gmt":"2023-03-16T14:37:14","slug":"srs-advises-retail-ground-lease-sale-in-orange-county","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/srs-advises-retail-ground-lease-sale-in-orange-county\/","title":{"rendered":"SRS Advises Retail Ground Lease Sale in Orange County"},"content":{"rendered":"<div id=\"attachment_1004651729\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/03\/Lake-Forest-Marketplace.png\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004651729\" data-attachment-id=\"1004651729\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/srs-advises-retail-ground-lease-sale-in-orange-county\/lake-forest-marketplace\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/03\/Lake-Forest-Marketplace.png\" data-orig-size=\"941,705\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"Lake Forest Marketplace\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;Lake Forest Marketplace. Image courtesy of SRS Real Estate Partners&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/03\/Lake-Forest-Marketplace.png?w=941\" class=\"wp-image-1004651729 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/03\/Lake-Forest-Marketplace.png?w=300\" alt=\"Lake Forest Marketplace\" width=\"300\" height=\"225\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/03\/Lake-Forest-Marketplace.png 941w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/03\/Lake-Forest-Marketplace.png?resize=300,225 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/03\/Lake-Forest-Marketplace.png?resize=768,575 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004651729\" class=\"wp-caption-text\">Lake Forest Marketplace. <em>Image courtesy of SRS Real Estate Partners<\/em><\/p><\/div>\n<p><strong>La Caze Development <\/strong>has sold the leasehold ownership of Lake Forest Marketplace, a 111,212-square-foot, multi-tenant retail center in Lake Forest, Calif. A private investor acquired the fully leased asset under a 95-year unsubordinated net ground lease through a <a href=\"https:\/\/www.commercialsearch.com\/news\/understanding-foreclosure-1031s\/\">1031 exchange<\/a>.<\/p>\n<p><strong>SRS Real Estate Partners <\/strong>Senior Vice President John Redfield brokered the $14.2 million transaction on behalf of the seller, while <strong>SVN<\/strong> Senior Vice President Jon Davis represented the buyer, which also assumed the current $9.4 million loan on the property, originated by <strong>StanCorp Financial Group<\/strong>, according to CommercialEdge.<\/p>\n<p>Situated at 23831 El Toro Road on a 10-acre site adjacent to Interstate 5, Lake Forest Marketplace is within a dense retail corridor and close to other shopping centers, including The Arbor, The Orchard and Twin Peaks Plaza. The property\u2019s tenant roster includes 99 Cents Only, Guitar Center, Island Pacific, Harbor Freight Tools, Bank of America, Del Taco and Dunkin\u2019 Donuts, among others.<\/p>\n<p>In the fourth quarter of last year, Orange County&#8217;s retail market had a vacancy rate of 4 percent and showed positive net absorption, with 12,845 square feet being absorbed by the end of 2022, as reported by <strong>Kidder Matthews<\/strong>. Assets in the market traded at a rate of $322.06 per square foot. Lake Forest Marketplace was sold at a below-market asking price, at $127.68.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The buyer picked up the asset through a 1031 exchange. <\/p>\n","protected":false},"author":3030,"featured_media":1004651729,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21825,21783,21742,34267,21749,15],"tags":[35484,46610,33330],"class_list":["post-1004651728","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance","category-investment","category-latest","category-orange-county","category-retail","category-west","tag-srs-real-estate-partners","tag-stancorp-financial-group","tag-svn"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>SRS Advises Retail Ground Lease Sale in Orange County - Commercial Property Executive<\/title>\n<meta name=\"description\" content=\"La Caze Development has sold the ground lease of Lake Forest Marketplace, a 111,212-square-foot retail center in Lake Forest, Calif.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/srs-advises-retail-ground-lease-sale-in-orange-county\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"SRS Advises Retail Ground Lease Sale in Orange County\" \/>\n<meta property=\"og:description\" content=\"La Caze Development has sold the ground lease of Lake Forest Marketplace, a 111,212-square-foot retail center in Lake Forest, Calif.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/srs-advises-retail-ground-lease-sale-in-orange-county\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2023-03-16T14:37:12+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-03-16T14:37:14+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/03\/Lake-Forest-Marketplace.png\" \/>\n\t<meta property=\"og:image:width\" content=\"941\" \/>\n\t<meta property=\"og:image:height\" content=\"705\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Raluca Toma\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/srs-advises-retail-ground-lease-sale-in-orange-county\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/srs-advises-retail-ground-lease-sale-in-orange-county\/\",\"name\":\"SRS Advises Retail Ground Lease Sale in Orange County - 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