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October 18, 2019
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LOS ANGELES COUNTY NEWS
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Exchange Investor Trades into $8.5 Mil Auto-Based Retail Center

4/16/19

Valencia Autoplex, a fully occupied, three-building 20.5k sf retail center in Valencia, traded hands for $8.5 mil ($415/sf). The buyer was a Los Angeles-based private investor.

Built in 1996 and situated on 1.81 acres at 23506 Valencia Blvd, the property includes Big O Tires and Oil Stop along with a mix of local auto-oriented tenants, making the center a destination for area consumers’ automotive needs. Additionally, a Shell Gas Station and Auto Spa Car Wash are adjacent tenants in the center (not a part of the acquisition).

Valencia Autoplex is located near the signalized intersection of Valencia Blvd and Cinema Drive, which sees more than 58,000 cars per day. The site is directly across from the area’s primary auto mall with dealerships including Valencia BMW, Mercedes-Benz of Valencia, Frontier Toyota, and Audi Valencia, among others. The site is also less than one more from Westfield Valencia Town Center, which features 1.1 msf of retail, restaurants and entertainment tenants, and is 3.7 miles from Six Flags Magic Mountain.

Pat Kent, Rich Walter and Parker Walter with SRS Real Estate Partners’ Investment Properties Group represented the seller, Newport Beach-based Frye Family Partnership III. The buyer was repped by Ron Feder of RJ Feder & Associates Inc.

According to Kent, the center is fully occupied with all tenants on triple-net leases. The all-cash 1031 exchange buyer traded out of a multifamily property.





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