Shopoff Realty Investments, a manager of opportunistic and value-add real estate investments, has purchased Sunrise Village, a 14-acre shopping center located in Fullerton, California.
The property is located at the intersection of Euclid Street and Rosecrans Avenue, and is anchored by CVS, with additional neighborhood and food service tenants such as Del Taco, Papa Johns, Coffee Code and an optometrist office.
“Sunrise Village is nestled into a well-established community in the North Orange County City of Fullerton,” said William Shopoff, president and chief executive officer. “Like many neighborhood shopping centers, this property has suffered the impacts of the pandemic-induced recession. We envision a unique opportunity with this asset to work with the city and add value that will serve the interests of the community for the future.”
Shopoff noted that the shopping center benefits from approximately 140,000 nearby residents and is within close proximity the multiple freeways. Major employers in the area include California State University – Fullerton, which employs more than 3,800, St. Jude Medical Center employing roughly 2,900, and Raytheon employing approximately 1,400.
Shopoff Realty Investments is an Irvine, California-based real estate firm with a 29-year history of value-add and opportunistic investing across the United States. The company primarily focuses on generating appreciation through the repositioning of commercial income-producing properties and the entitlement of land assets. The 29-year history includes operating as Asset Recovery Fund, Eastbridge Partners and Shopoff Realty Investments (formerly known as The Shopoff Group).