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Plaza Del Lago: Orange County, CA

Plaza Del Lago

Description: Specialty Retail Center, Mission Viejo, Orange County, California
Size: 97,700 square feet
Purchase Price: $14,740,000
Hold period: 3.75 years
Buyer: Washington Capital Management
Disposition Price: $42,000,000
Action taken: Repositioned property via aggressive marketing and tenant relation campaign including re-naming the center (formerly Market on the Lake). Completed the lease-up of approximately 30% of the project with high quality tenants, and renewed or extended existing anchor tenants for long terms of rents substantially above those previously paid.
Investor IRR: 89%

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