Grocery-anchored center in Santa Clarita sells to newly formed investment fund for $58M

Seller, TIAA, acquired property for $41M in 2011

TRD LOS ANGELES /
Jul.July 25, 2016 04:47 PM

The neighborhood shopping center Northpark Village Square has traded hands for $58 million in Santa Clarita Valley — an area many are watching this week, as raging fires have scorched 33,000 acres of land and counting.

The 87,100-square-foot retail property at 27756 McBean Parkway in Valencia was acquired by Inland Retail Property Fund, a newly formed investment fund sponsored by Inland Institutional Capital Partners Corporation.

Michelle Schierberl of Colliers represented the seller, TIAA, along with Don Ellis. Matthew Tice of Inland Real Estate Acquisitions Inc. advised ICAP.

The fully leased center is anchored by a Ralphs Market and a Rite Aid. TIAA bought it from Cornerstone Real Estate Advisers for $40.6 million in 2011.

Containment of the fire in Santa Clarita remained at only 10 percent on Monday evening.


Related Articles

arrow_forward_ios
Rick Edwards, partner at Seagrove Property Group and the property

Foreign investor drops $13.7M on fully leased shopping center in San Gabriel Valley

From left: John Walsh, founding Principal of Compass Acquisition Partners, and Robert Conn, Vice President, Acquisitions, Klingbeil Capital Management

Compass Acquisition Partners buys one of largest resi complexes in Santa Clarita

Woodridge Capital Partners’ CEO Michael Rosenfeld, with Castaic Lake (Credit: Getty and Wikipedia)

Woodridge Capital’s 3K-unit housing development would raise fire risk: lawsuit

This LA community saw the biggest rent increase in March

Bucking trend, Paragon Commercial to invest $500M in “neighborhood shopping centers”

Trader Joe’s inks 16K sf lease at huge NoHo mall conversion

Massive Northlake housing development gets final approval, despite appeals

Geoff Palmer secures $159M refi on 752-unit complex in Santa Clarita

arrow_forward_ios