Deal Wrap: Private Investors Pay $11M for Mile Square Plaza
February 11, 2010
By: Natalie Dolce

... Mile Square Plaza, a retail center located at 16501-16581 Brookhurst St., was purchased by FV Brookhurst Square LLC, a group of private investors, from Mile Square Plaza LLC. The purchase price for the three-building, 44,000-square-foot center, which was built in 1972, was $11 million. At the time of the sale, the non-anchored center was nearly fully leased, with 28 tenants occupying space ranging from 480 square feet to 4,700 square feet. There was only one vacant storefront. Kevin McNeil, managing director, and Karen Munroe, assistant director, in the Orange County office of Studley, represented both parties in the transaction. The buyer group, composed of local professionals who wanted to invest in their community, had very specific criteria with regard to property location and type. “After thoroughly researching a roughly 2.5–square-mile area, we identified Mile Square Plaza as the perfect fit, and were able to bring the buyer and seller together in an off-market capacity,” McNeil says. ...

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