Fullerton Retail Center Sold for $118.5 Million

Space Investment Partners, a Corona Del Mar-based investment firm led by Mark Moshayedi, purchased the Fullerton Metrocenter for $118.5 million from Kite Realty Group. The 11-building shopping center totals 395,629 square feet, which equates to a purchase price of $300 per square foot.

The shopping center has a strong mix of national anchor tenants as well as regional and local shop tenants that include Target and Sprouts market.

Kite Realty executives noted that the Fullerton property had gone under contract with a nonrefundable earnest money deposit in its first quarter earnings call. Mark Moshayedi and Ryan Gallagher launched Space Investment Partners in 2018 with a focus on technology and demographics.

Information for this article was sourced from Space Investment Partners.