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August 12, 2022
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RETAIL NEWS
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Neighborhood Center in the Western San Fernando Valley Sells for Over $600/sf

6/22/22

Mayhew Plaza Shopping Center, a 39.9k sf, Smart & Final Extra-anchored neighborhood shopping center in the western San Fernando Valley community of Woodland Hills, sold for $24.5 mil, or $614/sf. The property, located at 22631-22653 Ventura Blvd, was acquired by an entity comprised primarily of GNC Properties LLC and Western Prime Holdings LLC.

Mayhew Plaza was built in 1962 and renovated in 1999. The multi-tenant asset sits on just over three acres of land and is currently 96.23% occupied. Other tenants include The Habit, Jersey Mike’s and Domino’s Pizza. It is situated along Ventura Blvd, a busy traffic corridor on the southern end of the Valley, carrying over 38,451 cars per day in the City of Woodland Hills.

The Seller, J Globo LLC and SHWH LLC, was represented by GTR Consulting Group Inc. Thomas Kim, and William Shin. The buyer was repped by Joe Penich with KW Commercial. The deal closed at a 5.4% cap rate.




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