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Santa Clarita, Calif. — SRS Real Estate Partners has arranged the $27.5 million sale of a value-add retail property located in Santa Clarita, roughly 30 miles north of Los Angeles. The shopping center, which is situated on 12.6 acres, was formerly anchored by Kmart. At the time of sale, the property was 80 percent leased. The new ownership plans to fully renovate the shopping center, maintaining its retail use while upgrading the property and enhancing its overall appearance.
Carlos Lopez, Terrison Quinn and Tony Vuona of SRS Capital Markets represented the seller, a Los Angeles-based investor, in the transaction. Ed Matevosian of CBRE represented the buyer, Glendale, California-based Avant Real Estate, in the deal.