THE OPPORTUNITY

In April 2021, Shopoff acquired Sunrise Village, a shopping center located at 1020 Rosecrans Ave., in Fullerton, California, for $27.5 million. The 14-acre neighborhood shopping center is anchored by tenants, consisting of mainly food offerings as well as other service-based businesses. Well-located within the well-established, central Orange County city of Fullerton, the center benefits from nearly 140,000 existing nearby residents.

HOW SHOPOFF IS ADDING VALUE

A true value-add opportunity, Shopoff began by working closely with the City of Fullerton to secure the necessary approvals for the redevelopment plans.

The firm began working closely with existing tenants to transition their businesses to new locations, negotiating lease buyouts and relocation packages to facilitate the process. Additionally, Shopoff secured approvals from State agencies for environmental clearance and cleanup of on-site dry cleaning operations, paving the way for residential development. They provided public benefits funded through bond financing, which covered park fees and street improvements, adding $5.7 million in value to the project.

Shopoff also negotiated a development agreement with the City to secure approvals and ensure certainty for the site’s development. Lastly, they rehabilitated an existing on-site building, modernizing its façade, improving landscaping, and making tenant improvements, ultimately leasing it to an existing veterinarian.

THE RESULT

In September 2023, Shopoff sold the hard corner of the property, which included the Del Taco drive-thru ground lease and a 6,355-square-foot three-tenant pad. One month later, in October 2023, Shopoff then sold its approved housing development, The Pines at Fullerton, to Lennar Homes. Two retail parcels, measuring 1.11 and 1.02 acres, were sold in June 2025. The remaining 0.46-acre retail parcel was sold in September 2025.

Disclosures

An investment in a Shopoff fund involves a high degree of risk, including the possible loss of your entire investment, and is illiquid with an uncertain liquidity date. This material does not constitute an offer to sell or a solicitation of an offer to buy any security. Securities offered through Shopoff Securities, Inc. Member FINRA/SIPC.

These properties are one of a number of properties that are managed by Shopoff Realty Investments, and owned by open and closed investment funds. For the listing of all Shopoff’s current holdings visit: https://www.shopoff.com/current-assets/