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8/23/19
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AHS Property Inc acquired a 37.3k sf building leased to LA Fitness in the Conejo Valley community of Newbury Park. The single-tenant, leased investment property is located at 3057 Grande Vista Drive.
Although the final sales price was not disclosed, we can tell you that the property was listed for $15.02 mil, or $403/sf.
LA Fitness is located within the Village at Newbury Park shopping center, a 575.6k sf regional shopping center which was developed in 2019. The highly trafficked center is centrally located in Ventura County with convenient access to the US 101 Freeway. In addition to LA Fitness, the Village at Newbury Park is anchored by Target, Home Depot, Staples, Lowe’s and PetSmart.
Richard Rizika and Yvonne Shum of Beta represented the seller, Academy Road LLC. Mark Thiel of Marcus & Millichap repped the buyer.
“This property represented a tremendous opportunity for an investor to acquire a single tenant leased investment in an affluent Southern California community,” said Rizika. “The buyer was attracted to the new development, freeway visibility and overall demographics of the area.”
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