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June 27, 2017
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Lompoc Retail Center Trades for $19 Mil

6/16/17

Central Towne Square, a 96.7k sf, grocery-anchored community center in the coastal Santa Barbara County community of Lompoc, was purchased by a high net worth individual for $19.04 mil ($197/sf). It was sold by LA-based Jade Enterprises.

Situated on just over nine acres, Central Towne Square is shadow-anchored by Walmart Supercenter (not a part of the sale) and anchored by Foods Co, a subsidiary of The Kroger Company, one of the nation’s largest grocery retailers. The center is 97% occupied by 15 tenants including quality credit and national retailers such as O’Reilly Auto Parts, Wells Fargo, Payless Shoe Source, Sally Beauty, Applebee’s Bar & Grill, Gamestop, and MetroPCS.

Located at 511 through 633 W. Central Ave, Central Towne Square is prominently located at the north end of Lompoc along Central Ave., just west of H St. (Highway 1). The center serves the city of Lompoc as well as multiple surrounding residential communities.

Dixie Walker and Charley Simpson with Cushman & Wakefield represented the seller in the transaction.

According to Walker, a Managing Director, “Central Towne Square proved an excellent opportunity to acquire the dominant grocery-anchored center in Lompoc that has a history of stable and secure cash flow. Further, this is a very well-performing store for Foods Co, making this location even more attractive from an investor standpoint.




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