News release

$29M grocery-anchored retail center in coastal Orange County trades

JLL Capital Markets closed the sale of the 65,116-square-foot Adams Marketplace in Huntington Beach, California

June 20, 2023

Jenna Sharp

Capital Markets PR
+1 214 438 6450

LOS ANGELES, June 20, 2023 – JLL Capital Markets announced today that it closed the $29 million sale of Adams Marketplace, a 65,116-square-foot, top-performing, grocery-anchored retail center located within coastal Orange County in Huntington Beach, California.

JLL marketed the loan on behalf of the seller, affiliates of Fortress Investment Group and DJM Capital. The asset was acquired by a private, Orange County-based buyer.

Built in 1974 and renovated in 2022, the 98-percent-occupied Adams Marketplace is anchored by Smart & Final Extra, a major grocery destination for the surrounding Huntington Beach community. Additional tenants include Petco, Starbucks, MemorialCare Medical, Wingstop, 76 Gas (NAP), Jiffy Lube (NAP) and Carl’s Jr. (NAP), providing a diverse range of essential uses and services.

Located at 9062 Adams Ave., the center sits at the junction of Magnolia Street and Adams Avenue and is also located between the Pacific Coast Highway and the 405 Freeway. The property is less than three miles from the Huntington Beach Pier and within proximity to several major colleges, including Orange Coast College and Golden West College. This grocery-anchored center serves approximately 400,000 people within a five-mile radius, and the average household incomes exceeds $157,000 within a one-mile radius.

The JLL Capital Markets Investment Sales Advisory team is led by Managing Director Bryan Ley, Gleb Lvovich, Geoff Tranchina, Director Tim Kuruzar and Senior Director Daniel Tyner.

“Adams Marketplace further demonstrates the strong desire of investors today for well-located suburban, grocery-anchored shopping centers," said Ley. "The sale marked one of the largest Orange County retail trades to date in 2023 and saw a strong field of investors vying for the asset in our marketing process. The asset will be a great long-term investment for the new owner.”

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment and sales advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

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About JLL

For over 200 years, JLL (NYSE: JLL), a leading global commercial real estate and investment management company, has helped clients buy, build, occupy, manage and invest in a variety of commercial, industrial, hotel, residential and retail properties. A Fortune 500® company with annual revenue of $20.8 billion and operations in over 80 countries around the world, our more than 106,000 employees bring the power of a global platform combined with local expertise. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAYSM. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit

About DJM

DJM is a private equity real estate owner, operator and developer based in California. DJM creates long-term value by transforming real estate to meet the 21st century demands of consumers, retailers, and office users. With a focus on placemaking, DJM leverages design, development, and best-in-class management to create places where people thrive. DJM is represented by a current portfolio of approximately four million square feet with an estimated portfolio value of $2 billion. For more information, please visit

About Fortress Investment Group

Fortress Investment Group LLC is a leading, highly diversified global investment manager. Founded in 1998, Fortress manages $44.2 billion of assets under management as of March 31, 2023, on behalf of over 1,900 institutional clients and private investors worldwide across a range of credit and real estate, private equity and permanent capital investment strategies.