Fountain Valley, CA (March 5, 2021) – Buchanan Street Partners recently purchased a three-building, 91,517-square-foot flex/showroom retail center for $24 million (just over $262 per square foot). The buildings, known as E405, are located at 18225, 18285 & 18349 Euclid Street in Fountain Valley, CA. Combined, the three buildings are currently 80 percent leased.
Buchanan was attracted to E405’s strong infill location and excellent visibility along the 405 freeway. “E405 is irreplaceable real estate that rarely comes to market,” said Matt Haugen, vice president of Buchanan Street Partners. “These buildings provide us with multiple investment strategies due to the product type, location and visibility.”
The project has attracted well-known tenants such as Sherwin-Williams, CORT Furniture and Guitar Center due to a traffic count of 300,000 cars per day driving by E405’s 70-foot outdoor pylon sign. The buildings are well-suited for tenants that need a combination of showroom and warehouse space as well as a central location that attracts customers from a wide regional demographic.
Matthew Mousavi, Patrick Luther and Rich Walter with SRS Real Estate Partners represented the seller in the transaction.
ABOUT BUCHANAN STREET PARTNERS
Buchanan Street Partners is a real estate investment firm based in Newport Beach, California that focuses on value-investing in both commercial and multifamily direct ownership and in making debt investments. Having invested in over $6.9 billion worth of real estate assets in its 20+ year history, Buchanan Street has an established track record in the commercial real estate industry. The company is comprised of a highly skilled team that has invested through multiple real estate cycles enabling them to identify opportunities and maximize value while prioritizing capital preservation.