DJM Sells Gateway Shopping Center in Mission Viejo, California for $51M

DJM Sells Gateway Shopping Center in Mission Viejo, California for $51M

MISSION VIEJO, CALIF. — Orange County-based DJM has sold Gateway Shopping Center, a 79,001-square-foot shopping center located in Mission Viejo. An institutional buyer purchased the property for $51 million. JLL represented DJM in the all-cash transaction. Completed in 1979 on 7.4 acres, Gateway Shopping Center features a mix of tenants including Starbucks, Baja Fresh, Saddleback Family & Urgent Care and Chase, among others. The center was 97 pe…

DJM Divests Mission Viejo Retail Center in $51M All-Cash Deal

DJM, an Orange County–based private equity real estate and development firm, finalized the sale of Gateway Center, a neighborhood retail center located in Mission Viejo. The property sold for $51 million, representing a 6% cap rate on NOI. The transaction closed all-cash with an institutional buyer. Completed in 1979, Gateway Center is leased to a combination of national and local retailers. The center spans 7.35 acres and is located at 24000 Al…