Shopoff Realty Investments, a manager of opportunistic and value-add real estate investments, has sold the remaining 0.67-acre parcel of the Los Alisos Village Shopping Center for $3.5 million to a private investor. The parcel includes a 5,000-square-foot building currently leased to Village Montessori School.
Shopoff, which purchased the entire Los Alisos Village Center in October 2015 for $11.5 million, previously sold 27,000 square feet for $14.5 million in December 2020.
The company completed a full renovation of the property, including new facade, roofs, resurfacing and re-striping the parking lot, landscaping, tenant signage and a new monument sign.
“Selling the final piece of Los Alisos is a wonderful conclusion to this fantastic investment,” said William Shopoff, president and chief executive officer. “We’re pleased to have improved upon this neighborhood shopping center to better serve area residents and look forward to doing future business in the City of Mission Viejo.”
Located in the Orange County master-planned community of Mission Viejo, the center is positioned at an intersection in a dense residential area, and approximately one mile east of a cluster of approximately 500,000 square feet of industrial space and business parks.
Shopoff Realty Investments is an Irvine, California-based real estate firm with a 30-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 30-year history includes operating as Asset Recovery Fund, Eastbridge Partners and Shopoff Realty Investments (formerly known as The Shopoff Group).