This article originally appeared in Connect California.
March 18, 2021
Newport Beach-based Buchanan Street Partners recently acquired E405 Euclid Shops, a 91,517-square-foot flex/showroom retail center located at 18225 to 18349 Euclid St. in Fountain Valley, for $24 million. Buchanan Street was attracted to E405’s infill location and access/visibility along the 405 freeway.
“E405 is irreplaceable real estate that rarely comes to market,” said Matt Haugen, vice president, Buchanan Street Partners. “These buildings provide us with multiple investment strategies due to the product type, location and visibility.”
Situated on 4.9 acres, the center includes tenants Sherwin-Williams, Guitar Center and Cort Furniture.
E405 features a 70-foot pylon sign directly visible from the freeway. The property has more than 670,000 residents and 350,000 employees within a 5-mile radius.
SRS national net lease group’s Matthew Mousavi, Patrick Luther and Rich Walter represented the buyer, seller and the original developer, a Southern California-based family trust.