Lee & Associates Transacts Sale of 30,000-SF Shopping Center in Valencia, CA
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Lee & Associates Transacts Sale of 30,000-SF Shopping Center in Valencia, CA

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VALENCIA, CA – April 11, 2011 – (RealEstateRama) —  A newly constructed, 30,000-square-foot shopping center at 28656 The Old Road in Valencia, CA was sold to a private investor, according to Larry Twomey, Paul Capra and Mike Tingus at Lee & Associates-LA North/Ventura, a full-service commercial real estate brokerage and member of the Lee & Associates group of companies.

Twomey, a Lee Principal, represented the buyer, Old Road Realty LLC. Capra, a Lee Associate and brokerage President Mike Tingus represented the seller, First California Bank.

The purchase price was undisclosed.
“There is no new building in Valencia or Santa Clarita that has such visibility,” said Twomey. “The property has the additional value of 161 car parking on 3.3 acres, making it suitable for medical use as well.”

The center was newly completed but never occupied. It sits along the Golden State (5) Freeway with approximately 200,000 cars passing by it daily. In addition to the freeway visible location, the property has rights to develop a 32’ lighted sign. First California Bank acquired the note on the property with its purchase of the original note holder, Western Commercial Bank.

About Lee & Associates
Celebrating more than 30 years of leadership excellence in commercial real estate, Lee & Associates is one of the largest national commercial real estate providers with regional expertise.  As a group of independently owned and operated companies, Lee & Associates currently has 43 offices located in California, Arizona, Georgia, Idaho, Illinois, Indiana, Kansas, Michigan, Missouri, Nevada, New Jersey, South Carolina, Texas and Wisconsin. Lee & Associates’ clients enjoy a comprehensive range of specialized commercial real estate services including: industrial, office, multifamily and retail property sales and leasing; real estate investment consulting, property acquisition and disposition; tenant representation and relocation, land assemblage, site selection, mixed-use and urban in-fill, property and portfolio evaluation and market research. Additional information is available at www.lee-associates.com.

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Lee & Associates

Lee & Associates-Investment Services Group (Lee ISG) provides commercial real estate brokerage and advisory services to public and private investors, investment trusts, high net worth individuals and banks and lending institutions throughout Southern California and the nation. Utilizing a team approach that allows us to customize resources to the requirements of each assignment, we assist clients to capitalize on opportunities and build wealth while minimizing costs and mitigating risk.

Our agents represent a comprehensive spectrum of expertise including acquisitions and dispositions, 1031 exchanges, real estate investment consulting, land assemblage, property and portfolio evaluation and market research and analysis for office, industrial, retail, shopping center, NNN and multifamily assets. As a member of the Lee & Associates Group of Companies we also provide our clients with access to local market expertise through 43 offices in California, Arizona, Georgia, Idaho, Illino  is, Indiana, Kansas, Michigan, Missouri, Nevada, South Carolina, New Jersey, Texas and Wisconsin.

Contact:

Phone: 818-933-0317

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