After going bankrupt almost a decade ago, the Anaheim GardenWalk complex in Orange County has traded hands for $80 million.
STC Management, based in Whittier, purchased the three-story retail center from Acturus on behalf of local and Taiwanese investors. Acturus, a New York City-based real estate operator, purchased the three-story retail center out of bankruptcy in 2012 for a reported $73 million.
The property, at 321 W. Katella Avenue, went up for sale more than a year ago. It has 430,000 square feet of leasable space, with tenants that include House of Blues Anaheim, Bowlmor Bowling Center, AMC Theatres, 24 Hour Fitness, Cheesecake Factory, P.F. Chang’s, and California Pizza Kitchen.
CBRE announced the deal and represented the seller.
The GardenWalk is a block east of Disneyland Resort and the Anaheim Convention Center. It was designed in 2007 by Callison Architects and Lyons Warren Engineers + Architects to be the “adult dining and entertainment alternative” to Disneyland.
GardenWalk was also designed to accommodate 399 timeshare units on top of its 2,900-stall parking garage. JW Marriott is separately adding 466 units next to the GardenWalk, and a 400-unit hotel is set to be built at the northwest corner of Katella Avenue and Clementine Street.
Lennar Corporation also wants to add a 162-unit mixed-use complex on a seven-acre site nearby in Anaheim. Landmark Companies also recently secured a $71-million loan for an Embassy Suites near Disneyland. And last July, Advanced Real Estate Services acquired the Stadium House, a 251-unit property at 2100 E. Katella Avenue.