October 11, 2017 Comments Off on Santa Clarita Grocery-Anchored Center Trades for $22.5M Views: 769 California News, Los Angeles

Santa Clarita Grocery-Anchored Center Trades for $22.5M

Canyon Square Plaza, a 96,627-square-foot grocery-anchored shopping center in Santa Clarita, CA, sold to an undisclosed private high net worth investor for $22.5 million. The center is anchored by a 40,751-square-foot Vallarta Supermarkets store.

Located at 18507-18523 Soledad Canyon Road, the center was roughly 96% occupied at the time of sale by 29 tenants across a diverse and complimentary mix of daily needs, restaurant and service tenants.

Cushman & Wakefield retail investment specialists Dixie Walker and Charley Simpson represented the seller, New York-based REIT, Kimco Realty. The buyer was self-represented.

Walker says the property represented “a coveted ‘daily needs draw’ grocery-anchored center in a prime location and trade area with strong traffic counts. Nearly fully occupied, this desirable center possesses a loyal tenant base, as nearly half of its tenants have operated here for 10 years or more.”

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