Grocery-anchored shopping center signals bullish retail investment market for 2022
Based in Southern California, Colliers' top-producing Retail Capital Markets Retail team, led by Warner, comprises 15 specialists who advise clients on optimizing retail assets across the country.
"Palm Center offered the opportunity to acquire an irreplaceable asset," Warner said. "Accelerated interest and limited supply have created an incredibly bullish market for retail moving into 2022. Under the current economic conditions, property owners willing to market an asset will see a tremendous return. Legacy properties remain extremely attractive to buyers looking to capitalize on long-term yield."
Acquired by Fields Holding LLC, a Los Angeles-based 1031 Exchange buyer, the transaction marks Palm Center's first change in ownership since its 1971 development. The sale represents continued demand for quality retail properties with upside in booming U.S. markets. Consistently ranked among the top 50 economically thriving communities in the country, Orange County enjoys lower business costs, a highly qualified workforce, and one of the lowest unemployment rates nationally.
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