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10/20/15
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Woodlands Plaza, a 61.4k sf shopping center in Simi Valley, sold for $15.9 mil, or $259/sf. The asset is located at 530-660 East Los Angeles Ave, south of the 118 Fwy and east of Madera Rd.
Alex Kozakov, Patrick Wade and Maxx Cohen of CBRE represented the seller, B/C Sinaloa Plaza LLC. The buyer was DP Grand Simi, LLC.
The property was 81 percent occupied and anchored by Vons during the time of marketing. Additional major tenants include Fantastic Sam’s, Goodwill, H&R Block, Subway and others. During the escrow period, Haggen took over the Vons location, and subsequently closed the store before the sale completed. The agents were able to negotiate a continuation of the transaction while navigating through a commercial mortgage-backed securities loan assumption to successfully close the transaction.
Situated at the intersection of East Los Angeles Ave and Sinola Rd, the center is located on four parcels totaling 6.72 acres. The located has traffic counts in excess of 38,000 vehicles per day.
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