2515 E. Coast Highway in Corona del Mar Sells for $13.7 Million
Coastal Commercial represented the seller in the $13.7 million sale of 2515 E. Coast Highway, a 13,883-square-foot multi-tenant retail property in the heart of Corona del Mar.
The property sold for $700,000 above its $13 million asking price following a competitive marketing process that generated more than 10 offers and multiple rounds of bidding.
Nathan Holthouser of Coastal Commercial and Ron Duong of Marcus & Millichap represented the seller, Poole Properties Inc. The property was acquired by Shops at CDM LLC, led by local broker and investor Phil Berry.
Transaction at a Glance
Property: 2515 E. Coast Highway, Corona del Mar, California
Property Type: Multi-tenant retail
Building Size: 13,883 SF
Site Size: Approximately 0.35 acres
Sale Price: $13.7 million
Asking Price: $13 million
Seller: Poole Properties Inc.
Buyer: Shops at CDM LLC
Seller Representation: Nathan Holthouser, Coastal Commercial; Ron Duong, Marcus & Millichap
Offers: More than 10
Ownership History: Owned by the seller's family since the 1940s
A Rare Corona del Mar Retail Opportunity
Located along Pacific Coast Highway in the heart of Corona del Mar's village commercial district, 2515 E. Coast Highway combines prominent street frontage with characteristics that are difficult to replicate in the coastal Orange County market.
The property includes approximately 20 on-site parking spaces — a particularly valuable amenity in Corona del Mar — as well as a collection of primarily smaller commercial spaces that provide opportunities for long-term rent growth and tenant repositioning.
Its location also places the property within one of Southern California's most supply-constrained coastal communities, surrounded by high-value residential neighborhoods, restaurants, retailers and other local businesses.
Competitive Bidding Drives the Sale Above Asking Price
The property attracted significant interest from the Orange County investment community.
More than 10 offers were received, leading to multiple rounds of competitive bidding. Interest came primarily from private investors with connections to Orange County.
The competitive process ultimately resulted in a $13.7 million sale price — $700,000 above the original asking price.
The response demonstrated the value investors placed on the combination of the property's Pacific Coast Highway frontage, on-site parking, tenant configuration and long-term location fundamentals.
An 80-Year Ownership Chapter Comes to a Close
The transaction also represented a significant ownership transition for the property.
Poole Properties Inc.'s family had owned the property since the 1940s, making the sale the first change in family ownership in approximately eight decades.
Shops at CDM LLC, led by local broker and investor Phil Berry, acquired the property.
What the Transaction Says About Coastal Orange County Retail
The level of competition for 2515 E. Coast Highway illustrates the continued appeal of well-located coastal retail properties to private investors.
In markets such as Corona del Mar, characteristics that may appear ordinary elsewhere — particularly dedicated parking, prominent frontage and smaller tenant spaces — can materially affect the long-term investment value of a property because they are difficult to reproduce.
The transaction also demonstrates how properly positioning a unique coastal property and exposing it to a broad pool of qualified investors can create competition that materially affects the final outcome for the seller.
Coastal Commercial's Role
Nathan Holthouser of Coastal Commercial represented Poole Properties Inc. in the transaction alongside Ron Duong of Marcus & Millichap.
Coastal Commercial specializes in investment sales and commercial real estate advisory throughout Southern California's coastal markets, helping property owners evaluate opportunities, position assets and execute transactions designed to maximize long-term value.
As Featured In
Orange County Business Journal
Family Owned Corona del Mar Retail Property Trades After 80 Years for $13.7M
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Multi-Tenant Corona del Mar Retail Sells Above Asking Price
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