{"id":1004685230,"date":"2023-10-10T03:17:04","date_gmt":"2023-10-10T11:17:04","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004685230"},"modified":"2023-10-10T13:55:09","modified_gmt":"2023-10-10T21:55:09","slug":"columbus-pacific-lands-40m-refi-for-orange-county-retail-asset","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/columbus-pacific-lands-40m-refi-for-orange-county-retail-asset\/","title":{"rendered":"Columbus Pacific Lands $40M Refi for Orange County Retail Asset"},"content":{"rendered":"
\"\"

One of the dining sections of Orangefair Marketplace. Image courtesy of Walker & Dunlop<\/em><\/p><\/div>\n

Columbus Pacific Properties<\/strong> has obtained $39.9 million for the refinancing of Orangefair Marketplace, a 244,000-square-foot retail center located in Fullerton, Calif. Morgan Stanley\u00a0<\/strong>provided the funds, retiring existing debt.<\/p>\n

A Walker & Dunlop<\/strong> California Capital Markets team, led by Directors Riley Manke and Andrew Westling worked to procure the loan, which was originated in September. The new financing will mature in 2028, according to CommercialEdge data.<\/p>\n

The same source shows that the owner, a Los Angeles-based investment and development firm, purchased Orangefair Marketplace in 2002 for $31.5 million. SRS Real Estate Partners<\/strong> Managing Principal Terrison Quinn, Senior Vice President Casey Mahony and Senior Associate Tony Vuona oversee leasing at the property.<\/p>\n

A Fullerton fixture<\/h2>\n

The owner fully renovated Orangefair Marketplace in 2005. The mall was originally built in 1958 to include department stores from JCPenney, W.T. Grant and Woolworth\u2019s. In total, the shopping center spans 10 buildings spread over 23 acres, home to 28 shops. The mall\u2019s largest tenants are big-box stores that include Burlington, Best Buy, Michaels and Big 5 Sporting. Smaller tenants include Sketchers, Cycle Gear and Catherine’s.<\/p>\n

\n

READ ALSO:\u00a0<\/strong>Navigating the Retail Financing Landscape: Peachtree Group\u2019s CEO Weighs In<\/span><\/a><\/p>\n

\n

A population of 629,470 residents, with an average income of $97,000 lives within 5 square miles of Orangefair Marketplace, according to SRS Real Estate Partners’ website. The mall’s location\u2014at 140 E. Orangefair Mall\u2014allows for direct access to the 91 Freeway, with a connection to Interstate 5 sitting 3 miles to the west. The asset lies along Fullerton\u2019s largest retail corridor, adjacent to a Walmart Supercenter and a Lowe\u2019s Home Improvement Store.<\/p>\n

Orange County\u2019s green flags<\/h2>\n

Orange County’s retail sector recorded solid fundamentals during the first half of the year. According to a CBRE <\/strong>report, the region had a 4.1 percent vacancy rate, with more than 60,000 square feet of space under construction as of the second quarter.<\/p>\n

Recent headlines on the investment front include Paragon Commercial Group\u2019s $17 million recapitalization of Village Center<\/a>, a 93,336-square-foot property in nearby Fountain Valley, Calif. One month prior, in June, a joint venture between an affiliate of Cadence Capital Investments and Oakwood Real Estate Partners sold Bristol Place<\/a>, a 61,454-square-foot mall that is shadow-anchored by Target.<\/p>\n","protected":false},"excerpt":{"rendered":"

Morgan Stanley provided the loan.<\/p>\n","protected":false},"author":3012,"featured_media":1004685232,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21825,21742,34267,21749,15],"tags":[47234,32774,44213],"class_list":["post-1004685230","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance","category-latest","category-orange-county","category-retail","category-west","tag-columbus-pacific-properties","tag-morgan-stanley","tag-walker-dunlop"],"acf":[],"yoast_head":"\nColumbus Pacific Inks $40M Refi for Orange County Mall - CPE<\/title>\n<meta name=\"description\" content=\"Columbus Pacific Properties has inked a $39.9 million refinancing loan surrounding Orangefair Marketplace, in Fullerton, 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\/columbus-pacific-lands-40m-refi-for-orange-county-retail-asset\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Columbus Pacific Lands $40M Refi for Orange County Retail Asset\" \/>\n<meta property=\"og:description\" content=\"Columbus Pacific Properties has inked a $39.9 million refinancing loan surrounding Orangefair Marketplace, in Fullerton, Calif.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/columbus-pacific-lands-40m-refi-for-orange-county-retail-asset\/\" \/>\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=\"2023-10-10T11:17:04+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-10-10T21:55:09+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/10\/orangefairmarketplace-e1696889513638.png\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"620\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Gabriel Frank\" \/>\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\/columbus-pacific-lands-40m-refi-for-orange-county-retail-asset\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/columbus-pacific-lands-40m-refi-for-orange-county-retail-asset\/\",\"name\":\"Columbus Pacific Inks $40M Refi for Orange County Mall - CPE\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/columbus-pacific-lands-40m-refi-for-orange-county-retail-asset\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/columbus-pacific-lands-40m-refi-for-orange-county-retail-asset\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/10\/orangefairmarketplace-e1696889513638.png\",\"datePublished\":\"2023-10-10T11:17:04+00:00\",\"dateModified\":\"2023-10-10T21:55:09+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/cf1bfd2d6753f6ea305911ffd020862c\"},\"description\":\"Columbus Pacific Properties has inked a $39.9 million refinancing loan surrounding Orangefair Marketplace, in Fullerton, Calif.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/columbus-pacific-lands-40m-refi-for-orange-county-retail-asset\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/columbus-pacific-lands-40m-refi-for-orange-county-retail-asset\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/columbus-pacific-lands-40m-refi-for-orange-county-retail-asset\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/10\/orangefairmarketplace-e1696889513638.png\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/10\/orangefairmarketplace-e1696889513638.png\",\"width\":800,\"height\":620,\"caption\":\"One of the dining sections of Orangefair Marketplace. 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