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9/25/15
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Lemon Grove Plaza, a 99.9k sf shopping center located in Oxnard was sold in a transaction valued at $8.1 mil, or $81/sf. The shopping center is situated on 9.7 acres at 2001-2091 Oxnard Blvd, on the corner of Oxnard Blvd and West Vineyard Ave.
Lemon Grove Plaza is currently leased to national tenants that include Smart & Final Extra, Jersey Mike’s Subs, Burger King and Econo Lube & Tune. It is adjacent to Lowe’s and other national retail amenities.
CBRE retail experts Alex Kozakov, Patrick Wade, Larry Tanji, Scott Siegel and Maxx Cohen represented the seller, a private family trust.
“Lemon Grove Plaza is subject to a 33-year absolute triple net ground lease, with a recent notice to extend the lease another 33 ears,” said Kozakov. “This provides the new owner a well-located investment property, with excellent intrinsic value and zero management responsibilities.”
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