July 25, 2016 Comments Off on Colliers Completes $58M Valencia Retail Deal Views: 432 California News, Los Angeles, West

Colliers Completes $58M Valencia Retail Deal

Northpark Village Square in Valencia, CA traded hands in a $58-million transaction negotiated by Colliers International. The 87,103-square-foot grocery-anchored retail center was acquired by Inland Retail Property Fund LP, a newly formed investment fund sponsored by Oak Brook, IL-based Inland Institutional Capital Partners Corp. (ICAP) from seller TIAA.

The strong-performing center is the dominant property in the region, and in addition to being anchored by a Ralphs Market and a Rite Aid Drug Store, its tenant roster includes Wells Fargo Bank, Starbucks, Circle-K and Mobil.

Colliers’ Michelle Schierberl and Don Ellis represented TIAA. Inland Real Estate Acquisitions Inc.’s Matthew Tice advised ICAP.

Schierberl says investor interest “rose dramatically” as a result of the asset’s high-performing Ralph’s grocery store, national chain drug store and Southern California’s dwindling supply of dual-anchor centers.

Connect with Colliers’ Schierberl

Connect with Inland Institutional Capital Partners Corp.

For comments, questions or concerns, please contact Dennis Kaiser

Share on FacebookTweet about this on TwitterShare on LinkedInEmail this to someone

Tags: , , , , ,

Comments are closed.