|
|
10/24/12
|
The Center at Shangri-La, a 53.7k sf shopping center in Santa Clarita, sold for $10 mil ($186/sf). The center is located at 18635 Soledad Canyon Rd, approximately 35 miles northwest of downtown Los Angeles.
Co-anchored by the Santa Clarita Public Library, the Center at Shangri-La is 97 percent leased to 15 tenants on triple-net leases with fixed increases. Though not a part of the sale, the library drives a large volume of vehicle and pedestrian traffic to the property and contributes a proportionate share of common area maintenance reimbursements.
Tenants at the Center at Shangri-La include Telesis Communication, Everest Charbroiled Burgers, IHOP, The Medicine Shoppe, Jersey Mike’s Subs, Domino’s Pizza and the Elite Fitness Compound.
Gregory Mills, a senior vice president investments in Marcus & Millichap’s Encino office, represented the seller, Shangri-La LLC.
|
|
 Return to the Archive page
|
|
|
|
|
Printer-friendly Version
Email an Associate