Northpond Acquisitions Makes California Debut With $16.5 Million Purchase of Link OC Retail Center in Anaheim
Northpond Partners has closed on its first California property, acquiring Link OC, a fully leased neighborhood retail center in Anaheim, for $16.5 million. Newmark arranged the sale, with Vice Chairman Pete Bethea and Senior Managing Directors Glenn Rudy and Rob Ippolito representing the undisclosed seller in the transaction, the firm announced Aug. 11.
The 26,385-square-foot center, located at 1071, 1081 and 1095 North Tustin Avenue, traded at approximately $625 per square foot. The property is 100% occupied and anchored by a mix of service-oriented, food-and-beverage and medical tenants.
Property and Location
Link OC sits at the intersection of Tustin Avenue and La Palma Avenue in Anaheim, a position that exposes the center to roughly 90,000 vehicles per day. The property also offers immediate access to the 91 Freeway and is situated less than a quarter-mile from Kaiser Permanente Anaheim Medical Center.
Renovated in 2017, the center is shadow-anchored by Jerome's Furniture and is adjacent to newly developed multifamily communities totaling more than 700 residential units. Current tenants include Reborn Coffee, Wendy's, Byblos Mediterranean Grill, Pampanga Food Company, Spin Poke & Grill, MD Clinics Urgent Care and other daily-needs retail and service providers.
Broker Commentary
"Link OC attracted significant investor interest due to its irreplaceable location, strong tenant mix and long-term income stability," said Rudy. "The property's combination of necessity-based retail and medical tenancy, coupled with its proximity to employment centers and residential growth, created a compelling investment opportunity. We are pleased to have helped our client achieve an optimal outcome while assisting Northpond Acquisitions with its entry into the California market."
Market Context
The transaction reflects continued investor appetite for stabilized, necessity-based retail in infill Southern California markets. Retail demand has become increasingly selective: as of mid-2025, 12-month net absorption in the retail sector had turned negative, falling to -3.9 million square feet, while annual rent growth slowed to 2.0%. In that environment, buyers have prioritized tenant durability and income certainty, making fully leased centers with service, food-and-beverage and medical tenants more sought-after than discretionary retail formats.
For Northpond Acquisitions, a fully stabilized asset with strong traffic counts, healthcare adjacency and dense surrounding multifamily development offered a lower-risk entry point into the California market. Material costs rose more than 40% between early 2021 and mid-2026, making stabilized existing assets an attractive alternative to new development for buyers entering an unfamiliar market.
About the Broker
Newmark Pacific is part of Newmark Group, Inc. (Nasdaq: NMRK), a commercial real estate advisory and services firm. For the twelve months ended June 30, 2026, Newmark generated revenues of more than $3.6 billion. The firm operates from more than 195 offices with over 10,000 professionals across four continents.