Head For The Hills

Sylmar Apartments LLC purchased the Laguna Hills Plaza retail center located at 24791-24901 Alicia Parkway in Laguna Hills, CA. The 100,000-square-foot specialty center sold in a 1031 exchange for approximately $13 million, or $130 per square foot. Anchored by Pic-N-Save and Chick's Sporting Goods, the center will undergo a remodel and 10,000-square-foot expansion of Chick's Sporting Goods. David Lee and Patrick Kent of Faris Lee Investments represented the buyer, Sylmar Apartments LLC. Dennis Vaccaro and Rich Walter of Faris Lee Investments represented the seller, Alicia Plaza Ltd.