Lucescu Realty Arranges Sale of Ventura Village Shopping Center for $23.2 Million

Ventura, Calif. – The center is currently 93 percent leased.

Ventura, Calif. – Lucescu Realty has arranged the sale of Ventura Village Shopping Center in Ventura for $23.2 million. Lucescu represented the interests of the seller, Regency Centers, and procured the buyer, a private company. Ventura Village is an approximately 76,060-square-foot neighborhood shopping center, anchored by Vons Grocery, which was included as part of the sale and has been operating at that location since 1986. Vons occupies 42,500 square feet of gross leasable area on a long-term lease with fixed rental escalations throughout the primary and option terms. Other tenants include Fantastic Sams, Papa John’s Pizza and Subway. Built in 1986, Ventura Village is situated on a 6.05-acre parcel and includes 700 feet of frontage along Telephone Road. The center is currently 93 percent leased.

   Scott Reid

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