Mission Viejo's LOCAL Retail Center Hits the Market for $29.7 Million [Los Angeles Times (CA)]
Sleep Number Corporation (SNBR)
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Source: Los Angeles Times
sales, announced that the firm has been retained by Burnham USA Equities , a Newport Beach-based developer known for its high-profile retail and mixed-use projects, to market for sale LOCAL in Mission Viejo, California . LOCAL is a newly renovated and rebranded lifestyle retail center located at 28321-28361 Marguerite Parkway. The asking price is $29.7 million. Hanley Investment Group 's president Ed Hanley and executive vice president Kevin Fryman are leading the marketing efforts for the property, which is currently 98% occupied and positioned as one of South Orange County's premier retail assets. LOCAL recently underwent a comprehensive exterior renovation completed in 2022, along with a full rebranding initiative that elevated the center's identity and strengthened its market positioning. According to Hanley, Burnham USA Equities invested substantial capital to modernize the center's exterior, enhance tenant appeal and reposition LOCAL to cater to the affluent demographics of
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