A 375,500-square-foot shopping center in Lancaster has sold for $45.3 million, or $121 per square foot.
The Valley Central traded hands at 44400 Valley Central Way, the San Fernando Valley Business Journal reported. The buyer and seller were not disclosed.
The 35-acre retail center is part of a larger 715,000-square-foot shopping center anchored by a Super Walmart.
Valley Central, which is 68 percent leased, includes anchors Marshalls, Staples, Michaels and 99¢ Only stores
Other tenants include Burlington, Planet Fitness, Five Below, Chuck E. Cheese, Black Angus Steakhouse, Party City, GameStop, Sola Salon Studios, Starbucks, Sport Clips, Sally Beauty Supply, America’s Tires, Jersey Mike’s Subs, Vans, Leslie’s Pool Supplies and Uptown Cheapskate.
Pete Bethea, Rob Ippolito and Glenn Rudy of Newmark represented the unidentified seller.
Valley Central is visible from Highway 14. Some 162,000 people live within a 5-mile radius of the center, while the average household within a mile from its stores earns nearly $90,000 a year, according to Newmark data.
— Dana Bartholomew
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