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December 9, 2022
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RETAIL NEWS
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Lancaster Shopping Center Gets New Owner in $45 Mil Transaction

9/22/22

Valley Central, a 375.5k sf community shopping center in Lancaster traded for $45.25 mil, or $120/sf. The property, located at 44400 Valley Central Way, spans over 35 acres with 17 different entry drives.

The property is part of a larger 715k sf Super Walmart-anchored shopping center. The asset was 68% occupied at the time of sale with a tenancy comprising of high-credit and loyal junior anchors such as Marshalls, Staples, Michaels and 99˘ Only Stores.

The tenant roster also includes Burlington, Planet Fitness, Five Below, Chuck E. Cheese, Black Angus Steakhouse, Party City, GameStop, Sola Salon Studios, Starbucks, Sport Clips, Sally Beauty Supply, America’s Tires, Jersey Mike’s Subs, Vans, Leslie’s Pool Supplies and Uptown Cheapskate.

Pete Bethea, Rob Ippolito and Glenn Rudy with Newmark represented the undisclosed seller. According to Ippolito, Valley Central offers a unique value proposition through lease up or redevelopment while benefiting from robust in-place yields derived from a reliable, high-credit income stream.




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