Savi Ranch Center
Yorba Linda, CA
Savi Ranch is a ±160,773 Square Foot shopping center located off the freeway in Yorba Linda, California. While the property was in a good overall market, the access to the property was very challenging, and the center had 4 large boxes with near-term expirations and declining sales.
We created best-in-class marketing materials and a comprehensive strategy to fully expose the asset with the goal of leveraging off the separate parcels. We knew separate parcels would provide a new investor the opportunity to sell off assets, to raise capital, or be accretive to the current cost basis. During the listing period we got three other listings that we sold for record breaking cap rates.
The sales of these assets supported our theory and valuation that the pieces were greater than the whole.
We then paired the investment to a foreign buyer with debt lined up to provide them a strong cash-on-cash return and acquisition, as well as multiple exit strategies.
We broke three records and sold a difficult power center for our institutional client. We not only executed but were able to push pricing. The ability to find this buyer was critical and utilizing our debt platform gave us tremendous control of the process.
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More Success Stories
Institutional Seller with strong expectations. Not main and main within the market. Restrictions on fully marketing the asset. Short timing to sell the property. Record cap rate for the Pacific Northwest. Sold to an exchange buyer off market that was based in Beverly Hills. Delivered again for one of our top clients. Help us take the top spot for grocery sales in 2020.
Top performing Kroger grocery store coupled with Kmart anchor on eve of bankruptcy. Underperforming shop tenant performance and new development competition. Northward market migration and residential growth. How to get value for Kmart space with limited prospects to backfill 100,000 SF. Kroger controlled redevelopment via site plan modification approvals.
High seller expectations for REO asset at excellent location near high-performing regional mall. Second generation replacement anchors HH Greg & Gander Mountain lacked credit. Functional obsolescence of enclosed mall shops resulted in under-performance. Outdated movie theater lacked credit, but required significant LL renovation contribution. High expectations based on quality of location but encumbered by current leases. Vintage physical plant was dated with deferred maintenance.
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