- Shopoff Realty Investments ("Shopoff") has sold the hard corner of the current Sunrise Village Shopping Center located in the City of Fullerton, California. The sold property includes the Del Taco drive-thru ground lease, and a 6,355-square-foot three-tenant pad, with current lessees, Papa John's Pizza, Sunrise Optometry, and Coffee Code. The buyer is Dream ERE: Real Estate, a local Orange County investor.
"This is a prime retail asset in Orange County that benefits from the high-traffic intersection of Euclid and Rosecrans, as well as the nearby established housing communities," explained Shopoff President and CEO William A. Shopoff. "Further strengthening this retail asset will be Shopoff's residential development, The Pines at Fullerton, that was approved to be built on the adjacent site, providing additional consumers in walking distance of this corner retail."
In January 2023 Shopoff received unanimous approval for the redevelopment of the aging Sunrise Village Shopping Center, with approval for The Pines at Fullerton, a mixed-use development of 113 homes including 49 small lot detached homes, 64 townhouses, and 23,000 square feet of neighborhood retail uses. With the sale of the corner retail, 2.69 acres of retail pads remain for sale.
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