Institutional Demand is Still Strong for Grocery-Anchored Retail Centers
CORONA DEL MAR, CALIF. – (RealEstateRama) — Hanley Investment Group Real Estate Advisors, a nationally-recognized real estate brokerage and advisory firm specializing in retail property sales, announced today that President Ed Hanley and Senior Vice President Kevin Fryman represented the buyer and seller in the sale of Stevenson Ranch Plaza in Santa Clarita, a 97% occupied, 187,035-square-foot Ralphs grocery-anchored shopping center located in the Los Angeles metro area. The sale price was $72.5 million.
Stevenson Ranch Plaza is located approximately 35 miles northwest of downtown Los Angeles in an affluent neighborhood of Santa Clarita at 24917-24975 Pico Canyon Rd. Built in 1997 on 18.91 acres, the retail center is anchored by Ralphs, whose parent company is Kroger, with other anchor tenants including LA Fitness, PetSmart and Stein Mart. Other tenants include David’s Bridal, Guitar Center, Yamato Restaurant and FedEx Office.