Fullerton Court Retail Center: 18,300 SQFT Listed for $13.44MM

Investing in Fullerton Court: A Retail Gem in North Orange County

Overview of Fullerton Court Property

Fullerton Court, a prime 18,306-square-foot multi-tenant retail center located at 444 N. Harbor Blvd, is poised for a new owner with a listing price of $13.44 million, translating to approximately $734 per square foot. This investment opportunity is represented by Hanley Investment Group and boasts a 6.2 percent capitalization rate. Situated at one of North Orange County’s busiest intersections, the center is fully occupied and serves as a hub for service, medical, and dining needs. It occupies a strategic corner at the signalized intersection of Harbor Boulevard and Chapman Avenue, where over 80,000 cars pass daily, positioning it as a key player in the local retail market.

Strategically Positioned for High Traffic and Visibility

Fullerton Court’s advantageous location on Harbor Boulevard—a vital commercial artery connecting Fullerton, Anaheim, and Brea—enhances its visibility and foot traffic. This center features direct storefront visibility and is adjacent to a public parking structure that caters to the high-volume retail and quick-service clientele. The mix of services housed in the center is tailored to the surrounding residential community and nearby educational institutions, ensuring steady customer traffic and solid long-term leasing prospects.

Diverse and Reliable Tenant Mix

The retail center is anchored by well-established tenants, including FedEx Office and Wahoo’s Fish Taco. FedEx has been operating at this location since 2001 and extended its lease by another 10 years in 2023. Wahoo’s Fish Taco, a popular fast-casual dining option, has been a part of the retail landscape since 2002. With a tenant mix that comprises 100 percent “internet-resistant” businesses, the center includes service and food establishments that cater to local needs. Eight out of ten tenants feature annual rental escalations, while seven have lease expirations extending beyond five years, adding an element of stability and reliability to cash flow.

High Walkability and Strong Demographics

Fullerton Court boasts an impressive walkability score of 97, classified as a Walker’s Paradise due to its proximity to several significant landmarks, including Downtown Fullerton, educational institutions like Fullerton College, and Fullerton High School. These locales collectively enroll around 66,000 students, ensuring a consistent customer base. Additionally, St. Jude Medical Center, located less than a mile away, enhances the attraction for service-oriented tenants. The surrounding five-mile demographic encompasses over 607,000 residents, with an average household income of $126,000, underscoring the favorable retail environment.

Positive Market Trends in Orange County

Entering a market characterized by solid fundamentals for retail investments, Fullerton Court stands out amid a low vacancy rate of 3.7% in the Orange County retail sector, with average cap rates fluctuating between 5 to 6 percent. The listed cap rate of 6.2 percent positions Fullerton Court slightly above recent market benchmarks while underlining the strong demand for retail spaces, particularly those with well-established tenants. The scarcity of new retail product and stable cap rates indicate a resilient marketplace for prospective investors.

Conclusion: A Strong Opportunity Awaits

The listing of Fullerton Court reflects a broader trend within institutional retail investment, emphasizing properties that house deeply rooted, internet-resistant tenants in bustling urban corridors. With its long-standing tenants, solid lease structure, and irreplaceable spot within North Orange County’s primary commercial intersection, this asset provides an attractive income-generating opportunity. Prospective buyers looking for stability and growth in a competitive market would do well to consider the Fullerton Court retail center, especially in light of the limited available retail stock.

This investment embodies a beacon of reliability within the evolving landscape of Orange County retail, marking it as a potential landmark opportunity for discerning investors.