Avison Young completes $20 million sale of The Village at Moorpark, a 129,374-sf community shopping center in Moorpark, CA

Avison Young completes $20 million sale of The Village at Moorpark, a 129,374-sf community shopping center in Moorpark, CA 4 Mar 2020

Los Angeles, CA – Avison Young announced today that it has completed the $20 million sale of The Village at Moorpark, a 129,374-square-foot (sf) community shopping center located at 706 West Los Angeles Avenue in Moorpark, CA (Ventura County).

Avison Young Principals Chris Maling and David Maling who are based in the firm’s downtown Los Angeles office represented the seller, London Reo Retail-CA, LLC, a Delaware limited liability company, as well as the California-based buyer, Chesser Group, Inc.

Built in 2007 and situated on 11.52 acres, the center is 76.3% occupied by a number of well-recognized retailers including Petco, Dick’s Sporting Goods, Verizon, Bank of America, and Leslie’s Pool Supply, among others.

“This asset offered the buyer an opportunity for immediate upside by filling the vacancy through the implementation of a leasing strategy aimed at attracting daily needs/service-oriented tenants,” said Chris Maling.

The Village at Moorpark is located at the signalized intersection of W. Los Angeles Avenue and Miller Parkway. It also offers direct access to Highway 23, the Simi Valley Freeway. Moorpark is located in the southeastern part of Ventura County, 50 miles northwest of downtown Los Angeles.

Avison Young is the world’s fastest-growing commercial real estate services firm. Headquartered in Toronto, Canada, Avison Young is a collaborative, global firm owned and operated by its Principals. Founded in 1978, with legacies dating back more than 200 years, the company comprises approximately 5,000 real estate professionals in 108 offices in 14 countries. The firm’s experts provide value-added, client-centric investment sales, leasing, advisory, management and financing services to clients across the office, retail, industrial, multi-family and hospitality sectors.

Avison Young is a 2019 winner of the Canada's Best Managed Companies Platinum Club designation, having retained its Best Managed designation for eight consecutive years.

www.avisonyoung.com

 

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For more information:

• Darcie Giacchetto, Places Public Relations: 949.278.6224