The buyer paid $14.7 million for the property, which is located at 12960 Foothill Blvd. The building is being expanded from 106,000 sf to 139,000 sf, in order to accommodate Home Depot's growth at the site.
Big-box retailers, such as Home Depot, Target and Walmart, are making a concerted push in Southern California, says Jack Kyser, chief economist of the LA County Economic Development Corp.
"We have seen a significant amount of large retail investment transactions in the Valley over the past six months," says William Bauman of Colliers Seeley International, who brokered the deal.
Bauman and Mark Lucescu of Marcus & Millichap represented the seller, Regency Centers. Westlake-based Westcord Commercial represented the buyer, Oxnard-based O'Hearn Trust.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
