|
|
9/29/25
|
Gerrity Group LLC has acquired Conejo Valley Plaza, a 127k sf, grocery-anchored shopping center in Thousand Oaks, for $45.5 mil ($358/sf). Anchored by Ralphs and Bank of America and shadow-anchored by Marshalls, HomeGoods, CVS and several daily-needs retailers, Conejo Valley Plaza is one of the premier shopping destinations in Ventura County.
The center benefits from high visibility along North Moorpark Rd and East Janss Rd, with a surrounding trade area characterized by strong demographics and intense barriers to entry. Additional value-add potential exists through lease-up of a prominent former JoAnn’s space.
Conejo Valley Plaza is located at 1388-1416 N. Moorpark Rd, just off U.S. Route 101. It is within a five-mile trade area encompassing over 140,000 residents and average household incomes exceeding $135,000. The property was 68% leased at the time of sale.
Pete Bethea, Rob Ippolito and Glenn Rudy with Newmark represented the seller, Conejo Valley Plaza 1 LLC and Conejo Valley Plaza 2 LLC, in the transaction.
According to Newmark Research, investor interest remains strong for open-air, grocery-anchored centers, which offer resilient cash flows and consistent foot traffic, especially in mature suburban markets like Thousand Oaks. These assets continue to draw capital even amid broader market dislocation, reflecting long-term confidence in the retail sector's evolution.
|
|
 Return to the Archive page
|
|
|
|
|
Printer-friendly Version
Email an Associate
