Anaheim GardenWalk, a 455k SF retail center located in the heart of Orange County near Disneyland and the Anaheim Convention Center, is up for sale and on the market again. Anaheim GardenWalk opened for business in June 2008. This was merely three months before the stock market (DJIA) had the largest point drop in a single day of trading in its history in September 2008. This is when the bottom dropped out of the real estate market in the United States. The shopping center’s developers defaulted on the $210 million loan and caused the mall to go into bankruptcy in 2010.
Arcturus and two other investors bought Anaheim GardenWalk in 2012 and increased occupancy from 50% to about 67%. They also transformed the overall theme of the retail center from shopping to entertainment. In 2012, the city of Anaheim approved construction of two luxury hotels, which include a J.W. Marriott. Also, in 2017, the House of Blues moved from Downtown Disney to the Anaheim GardenWalk. Now, the commercial real estate broker, CBRE, is looking for a buyer of the property.