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.