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September 26, 2018
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Grocery-Anchored Retail Center in Oxnard Sells for $24.5 Mil


Oxnard Vineyards, a 102.1k sf, grocery-anchored shopping center in Oxnard, was acquired by a private investor for $24.5 mil ($240/sf). The deal traded at a capitalization rate of 5.3%, in what were told is the lowest cap rate for a grocery-anchored shopping center sale in Ventura County this year.

The property, located at 2580-2698 E. Vineyard Ave, sits on 11.5 acres and includes a Vallarta Supermarkets store, plus other daily-needs retailers and a drive-through Jack in the Box. The grocer occupies 64% of the center with more than 10 years of term left on its initial lease.

CBREs Orbell Ovaness, Brad Baskin, and Artin Sepanian represented the seller, Loja Real Estate Group, in the all-cash transaction. Loja Real Estate Group purchased the property in 2014.

According to Sepanian, the property particularly benefits from more than 1,200 new residential units located within a three-block radius of the site.

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