Burnham USA Equities Retains Hanley Investment Group to Market for Sale LOCAL, a Newly Renovated and Rebranded Lifestyle Retail Center in Mission Viejo

MISSION VIEJO, Calif. - Hanley Investment Group Real Estate Advisors, a nationally recognized real estate brokerage and advisory firm specializing in retail property sales, announced today that the firm has been retained by Burnham USA Equities, a Newport Beach-based developer known for its highprofile retail and mixeduse projects, to market for sale LOCAL in Mission Viejo, California. LOCAL is a newly renovated and rebranded lifestyle retail center located at 28321-28361 Marguerite Parkway. The asking price is $29.7 million.

Hanley Investment Group's President Ed Hanley and Executive Vice President Kevin Fryman are leading the marketing efforts for the property, which is currently 98% occupied and positioned as one of South Orange County's premier retail assets.

LOCAL recently underwent a comprehensive exterior renovation completed in 2022, along with a full rebranding initiative that elevated the center's identity and strengthened its market positioning. According to Hanley, Burnham USA Equities, invested substantial capital to modernize the center's exterior, enhance tenant appeal and reposition LOCAL to cater to the affluent demographics of South Orange County, establishing the property as a stabilized, turnkey retail asset in one of the region's most supply-constrained trade areas.

"LOCAL gave us an opportunity to reimagine an underutilized property into a distinctive destination for South Orange County," said Stephen Thorp, Executive Vice President and Partner of Burnham USA Equities. "We approached the repositioning with a deep understanding of the community's needs and a commitment to creating an environment that is thoughtfully designed, well-curated, and built for long-term relevance. The result is a center that supports daily life, strengthens the neighborhood, and adds long-term value for both residents and future ownership."

Institutional-Grade Tenant Mix

LOCAL is anchored by a strong national and regional tenant base, with 94% of the occupancy comprised of national and regional retailers. Major tenants include Ferguson Home (NYSE: FERG; LSE: FERG), Joybird (NYSE: LZB), Terra Outdoor Living, Sleep Number (NYSE: SNBR), Walgreens (NASDAQ: WBA), and Pure Barre (NYSE: XPOF). Other tenants include Crescendo, Holland House Salon and Ra Yoga. Recent long-term lease executions have extended the weighted average lease term to 7.0 years, supporting stable cash flow and mitigating nearterm rollover exposure.

LOCAL encompasses 46,244 square feet of rentable space across two retail buildings on 4.17 acres: a 31,208-square-foot, three-tenant building and a two-story pad building totaling 15,036 square feet.

This tenant roster supports a merchandising strategy centered on home-furnishings, wellness and service-oriented retailers, creating an environment that encourages longer visits and repeat customer traffic. Fitness and service tenants included in the offering help drive consistent daily visitation and diversify demand drivers, while Woodbridge Interiors, Starbucks and Pure Green, located within the center but excluded from the offering, further contribute to overall activity and crossshopping.

Hanley noted that the merchandising mix reinforces LOCAL's regional positioning, particularly given that the nearest competing concentration of homefurnishings retailers is located in Irvine.

"LOCAL's tenant performance and long-term lease stability align with what private and institutional buyers are prioritizing in today's market," said Hanley. "The center's diversified merchandising mix and recent capital improvements support durable cash flow and a strong forward-looking demand profile."

Premier South Orange County Location

Situated in one of Orange County's most affluent and supply-constrained retail corridors, LOCAL benefits from exceptional demographics and sustained demand. The five-mile trade area includes more than 289,000 residents, with average household incomes of $191,000 within three miles. Ongoing residential growth at Rancho Mission Viejo, including roughly 9,000 existing homes, 1,000 under construction and a long-term plan for 14,000 units, further strengthens the center's demand profile, particularly for home-oriented retail.

LOCAL is adjacent to The Shops at Mission Viejo, the region's dominant enclosed mall, which attracts approximately 5.4 million annual visits (Placer.ai). Anchors include Nordstrom, Macy's, Dick's Sporting Goods, Round1, lululemon, Sephora and Tesla. A major redevelopment initiative is underway to introduce an outdoor village concept with open-air dining and landscaped gathering areas, scheduled for completion ahead of the 2026 holiday season.

LOCAL also benefits from exceptional visibility and access, including approximately 500 linear feet of freeway-oriented signage along the I-5 Freeway, prominent frontage along Marguerite Parkway and a highly visible monument sign near the Crown Valley Parkway exit. The center is less than half a mile from The Shops at Mission Viejo and offers convenient access to both the I-5 Freeway and the 73 Toll Road.

"The renovation and rebranding have transformed LOCAL into a stabilized, turnkey investment with predictable operating performance and strong tenant appeal," Fryman said. "The two-parcel configuration allows for the potential disposition of an individual parcel at a lower capitalization rate, whether the Fergusonanchored building or the two-story pad building, providing an opportunity to reduce overall basis or generate partial liquidity while retaining the remainder of the investment."

"Burnham USA Equities, and its affiliate, Burnham-Ward Properties, has a long history of elevating retail environments across Orange County," added Hanley. "Their work at LOCAL reflects the same commitment to placemaking and reinvestment seen in their other high-profile projects, including their leadership role in the Dana Point Harbor revitalization and a portfolio of stabilized assets such as Mariners Medical Arts, Paseo 17, Castaway Commons and The Waterfront at Via Lido."

About Burnham USA Equities

Burnham USA Equities is a privately held commercial real estate development and management firm based in Newport Beach, California. For nearly 40 years, the company and its affiliates have been leaders in the Southern California commercial real estate industry, acquiring or developing millions of square feet of commercial property throughout the United States. Led by partners, the firm is known for creating distinctive and community-oriented projects through ground-up development and the repositioning of obsolete or economically challenged properties. Burnham USA Equities focuses on value creation, placemaking and environmentally conscious design, delivering projects that enhance community experience and provide long-term value.

About Hanley Investment Group

Hanley Investment Group Real Estate Advisors is a real estate brokerage and advisory services company with a $12.6 billion transaction track record specializing in the sale of retail properties nationwide. The firm's expertise, proven track record spanning more than 20 years, and dedication to putting clients' needs first set it apart in the industry. Hanley Investment Group creates value by delivering exceptional results through propertyspecific marketing strategies, cuttingedge technology and local market knowledge. Hanley Investment Group's relationships with investors, developers, institutions, franchisees, brokers and 1031 exchange buyers translate into maximum exposure and pricing for each property. With unmatched service, Hanley Investment Group has redefined the experience of selling retail investment properties.

For more information, visit www.hanleyinvestmentgroup.com [https://hanleyinvestmentgroup.com/].

Media Contact
Company Name: Hanley Investment Group Real Estate Advisors
Contact Person: Kevin Fryman, Executive Vice President
Email:Send Email [https://www.abnewswire.com/email_contact_us.php?pr=burnham-usa-equities-retains-hanley-investment-group-to-market-for-sale-local-a-newly-renovated-and-rebranded-lifestyle-retail-center-in-mission-viejo]
Phone: 949.585.7674
Address:3500 East Coast Highway, Suite 100
City: Corona del Mar
State: California
Country: United States
Website: https://hanleyinvestmentgroup.com/

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