May 9, 2016
San Diego-based Retail Opportunity Investments Corp. (ROIC) acquired Bouquet Center, a 95% occupied, 148,903-square-foot grocery-anchored shopping center located in Santa Clarita, CA for $59 million. The REIT has committed a total of $155.2 million to grocery-anchored shopping center acquisitions so far this year.
Bouquet Center, located at 26502-26586 Bouquet Canyon Rd., was built in 1985 on 12.26 acres, and underwent a $7-million renovation in 2007. Anchors Vons, CVS, and Ross Dress for Less represent 66% of the current tenancy.
Corona del Mar, CA-based Hanley Investment Group Real Estate Advisors’ Ed Hanley and Kevin Fryman represented the seller, an unnamed Los Angeles-based private investor. The buyer was self represented.