JLL Capital Markets closes $8 million sale of a 23,598-square-foot shopping center located adjacent to a regionally dominant Whole Foods in Thousand Oaks, CA

SOLD: a 23,598-square-foot retail center
located in Thousand Oaks, CA
adjacent to a well-performing
 Whole Foods (NAP)

 

 Irvine, CA – JLL Capital Markets has closed the $8 million sale of a 23,598-square-foot retail center located in Thousand Oaks, California adjacent to a well-performing Whole Foods (NAP).

 

JLL represented the private seller, and procured the buyer, Black Lion Investment Group.

Built in 1979, the property is currently 57% leased to a mix of food and service-based tenants, including VCA Animal Hospital, Fatburger, Tae Kwon Doe, Conejo Swimwear, Alex the Tailor, Wild Birds and Lavish Nails & Spa.

 

 The property is shadow anchored by a Whole Foods, which serves as the only Whole Foods in a 10-mile radius and attracts over 890,000 annual visits.

Daniel Tyner

Situated at 692 N. Moorpark Rd., the property is located off of State Route 101 and is set directly across from the regionally dominant Janss Marketplace, the #1 ranked lifestyle center within a 15-mile radius. 

Average household income within a five-mile radius is $157,568, 95% higher than the California average of $80,440, and the population within a five-mile radius is 135,378, creating an ample supply of affluent customers.

 

The JLL Retail Capital Markets team was led by Senior Director Daniel Tyner, Managing Directors Geoff Tranchina and Gleb Lvovich.

 

“This property presented a unique opportunity for a buyer to add value to a well-located, grocery-anchored retail center in a highly affluent market of Southern California. We are pleased to have worked alongside the seller who originally developed the property in 1979 and look forward to seeing the property continue to thrive with new ownership,” said Tyner.

Geoff Tranchina 

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. 

The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment and sales advisory, debt advisory, equity advisory or a recapitalization. 

The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

 

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Contact:

 

Jenna Sharp

JLL, Public Relations

Dallas, Texas

M +1 214 394 3356

Jenna.Sharp@jll.com