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12/11/25
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Space Investment Partners purchased Topanga Gateway, a 123.4k sf, open-air grocery-anchored retail center located in the western San Fernando Valley community of Woodland Hills, in a $64 mil ($519/sf) transaction. It was sold by a private investor.
Topanga Gateway, located at 21909 Ventura Blvd, adjacent to the 101 Fwy at Topanga Canyon Blvd, was built in 1963 and renovated in 2024. The 97% occupied center’s largest tenants include Ralphs, Container Store, and Petco.
The modern lifestyle center benefits from exceptional visibility, with drive by traffic of more than 99,000 cars per day and immediate access to the 101 Fwy, which carries an additional 234,000 cars per day.
Eastdil represented the buyer and the seller in the transaction.
“We love this center for its location, its affluent consumer base, and proven sales. Additionally, the seller did a great job repositioning the center, providing a pathway for escalating rents over time,” said Space Investment Partners Managing Partner and Co-Founder Ryan Gallagher.
This acquisition follows Space Investment Partners’ $118.5 mil acquisition earlier this year of Fullerton Metrocenter, a 395.7k sf, dual-grocery-anchored center located at 1375 Harbor Blvd in the city of Fullerton. The high performing center is home to more than 40 national and local retail tenants.
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