Space Investment Partners, an Irvine-based real estate investment firm backed by the former boss of STEC Inc. and the former local head of commercial brokerage HFF, is doubling down on its retail investments in Costa Mesa.
The firm, launched last year, last week said it bought Westport Plaza & Square, a 39,000-square-foot retail center along the city’s busy 17th Street corridor.
“We’ve had our eye on 17th Street for a while, and we think it is an area that will continue to appreciate over time,” said Space co-founder Ryan Gallagher of the company’s latest purchase.
The 17th Street area, which turns into Westcliff Drive where Costa Mesa and Newport Beach connect at Irvine Avenue, counts an eclectic mix of small and midsized shopping centers, including a few owned by Newport Beach’s Burnham Ward Properties and its affiliates, such as the Castaway Commons center.
Check out the full article by Katie Murar in the Sept. 30 issue.