Valore Ventures, led by Kenny De Angelis, sold the 6,500-square-foot, triple-net-leased Oggi’s Pizza & Brewery property at 12362 Chapman Avenue in Garden Grove, Calif., to its franchisee, a local private investor, for an undisclosed sum.

The sale represents the third disposition of four fee simple restaurants Valore Ventures acquired as a portfolio in January 2019. The firm made the purchase with the intent to disassemble and reposition the portfolio, in order to match each asset to the best investor for optimal success of the restaurant.

“We found that the properties were better suited as individual parcels that could help satisfy local investor demand for strong assets," De Angelis said. "With this restructuring, we were quickly able to place the Red Robin and Joe's Crab Shack parcels with the ideal investors, and now this Oggi's owner was able to buy his restaurant."

Less than three miles from Disneyland, the area where the assets are located is supported by a population of over 860,000 residents; the Chapman Avenue/South Harbor Boulevard intersection, specifically, receives an estimated 60,000 vehicles per day. South Harbor Boulevard is also the main thoroughfare for visitors traveling to Disneyland, which draws an average of 18.2 million visitors a year.

A Target-anchored shopping center sits across the street, and the Anaheim Convention Center is only minutes away. The Outlets at Orange are less than two miles from the properties, with major tenants such as Nike Factory Store and Nordstrom Rack. Two hotel projects next door are slated to start construction later this year.

Built between 2001 and 2008, the restaurants are part of a larger development that includes three high-rise hotels and a 2.78-acre parking lot owned by the hotels, but is reserved exclusively for restaurant use.

Matthew Mousavi and Patrick Luther of SRS Real Estate Partners’ National Net Lease Group represented Valore Ventures in the disposition. The Outback Steakhouse restaurant remains available for acquisition.

About Valore Ventures

Valore Ventures (www.valore-ventures.com) is a boutique firm that invests in operating companies, as well as commercial real estate, redeveloping diverse value-add properties in select locations across the U.S.