The Small Space Marketplace

List Your Space

Find Space

Home About Us Executive Subscriber Membership RENTV Conferences Newsletter Contact Us Advertise
June 18, 2024
 Search RENTV
 The REview
News Home Page
Southern California
Northern California
Pacific Northwest
Prop. Management
Press Releases
 R. E. Marketplace
Service Providers
Property Spotlight
 RENTV  Conferences
Subscriber Login:
Forgot Password?

Printer-friendly Version   Email an Associate
Regional Retail Center in Oxnard Trades Hands


In retail investment news out of Ventura County, a majority, 357k sf, portion of Esplanade Shopping Center, a 488.9k sf regional retail center located at 195 W. Esplanade Dr in Oxnard, traded hands.The center, just over 92% occupied at the time of sale, offers a curated mix of best-in-class retailers including Nordstrom Rack, Walmart Neighborhood Market, TJ Maxx, Staples, Dicks Sporting Goods, Cost Plus, Home Depot (NAP), among others.

The asset was sold by Brixmor Property Group. Although the actual price was not given out, industry sources estimate a price tag of around $95 to $96 mil. The buyer, G&I IX Esplanade Property L.P, is reported to be venture between NY-based DRA Advisors and Investec.

NKF Capital Markets Vice Chairman Bill Bauman, Executive Managing Director Kyle Miller, Associate Director Matthew Schwartz represented Brixmor in the transaction. NKF Executive Managing Director David Milestone and Managing Director Brett Green repped the buyer in securing financing.

“The majority of the tenants in the center are the top operators in their respective categories. The strong sales reported by the retailers and restaurants validate the strength and attraction of the location and trade area,” said Miller. “Retail remains strong in the Oxnard submarket with a 4.4% vacancy rate and positive net absorption through the first half of 2018. In the case of Esplanade, the buyer was attracted to the prominence and success of the shopping center in addition to the top-tier tenant mix.”

Esplanade also includes a collection of quick-service and sit-down restaurants including BJ’s Restaurant, Blaze Pizza, In-N-Out Burgers, Pick Up Stix, Jamba Juice and Starbucks. The center is supported by a dense and affluent population base including more than 278,000 residents with average household incomes exceeding $86,000 within a five-mile radius.

Return to the Archive page


Home | About Us | Newsletter | Contact Us | Executive Subscriber Membership | Executive Subscriber Home | Advertise
Southern California | Northern California | Pacific Northwest | Southwest | Retail | Multifamily | Financing | Property Management
Archives | Press Releases | Service Providers | JobWorks | Property Listings

Copyright © 2024 by RENTV, All Rights Reserved
Website designed by Regency Web Services, Inc. and powered by Lightning Media