The North Euclid Shopping Center and its former Stater Bros. Market in Fullerton recently traded owners, selling for $12.58 million, according to Hanley Investment Group.
The 41,219-square-foot shopping center at 229-333 North Euclid St. is mostly full, with the exception of the grocery store.
The seller was the family-owned Kraemer Land Co. in Anaheim. Hanley declined to identify the buyer but said they were based in Fullerton.
The new owner — who owns multiple anchored retail properties, Hanley reps said — will look for a replacement anchor.
Meanwhile, the other shops at the center are all leased to “internet-resistant” tenants including a barber shop, hair salon, several quick-service restaurants, family dentistry, chiropractic office and H&R Block.
“This acquisition represented a rare opportunity to acquire a value-add shopping center in North Orange County,” said Kevin Fryman, an executive vice president at Hanley. “With several years remaining on the Stater Bros. lease, the buyer has ample time to execute their business plan, including repositioning the property and retenanting the former Stater Bros. space.”
Fullerton residents, be sure to tell us what you would like to anchor that retail space. Drop an email to sgowen@scng.com with your suggestions.