Beta Negotiates Sale of 37,346-Square-Foot Retail Building in Southern California

by Alex Tostado

Newbury Park, Calif. — Beta, a California-based commercial real estate agency, has negotiated the sale of a retail building located at 3057 Grande Vista Drive in Newbury Park. AHS Property Inc. acquired the asset from Academy Road LLC. Although the price was not disclosed, the building was listed for $15 million. LA Fitness occupies the 37,346-square-foot building, which is located within the 575,644-square-foot Village at Newbury Park shopping center, which was developed this year. Additional tenants at the shopping center include Target, The Home Depot, Staples, Lowe’s Home Improvement Warehouse and PetSmart. Richard Rizika and Yvonne Shum of Beta represented the seller, while Mark Thiel of Marcus & Millichap represented the buyer in the deal.

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