LOS ANGELES- PCG Woodland Hills Topanga LLC, an affiliate of Paragon Commercial Group, has acquired the Woodland Hills shopping center in the San Fernando Valley for an undisclosed sum in an off-market sale. The 112,649-square-foot shopping center is 100% leased by retail clients, including major anchor brands Toys R' Us, Office Depot and Off Broadway Shoes.

“With significant barriers to entry, strong traffic counts with signalized access and positioning at the heart of Warner Center, this acquisition provides Paragon and its investors with an asset that will continue to deliver returns on both a short- and long-term basis,” says Mark Harrigian, principal of Paragon Commercial Group. “This is the second acquisition in the San Fernando Valley for Paragon as we continue to aggressively grow our portfolio of quality, retail assets in Southern California.”

The property is in a prime location, directly across the street from the two Warner Center malls, owned by Westfield, and will be across from Westfield's large one-million-square-foot retail complex, Westfield Topanga, currently in development. “The buyer viewed this transaction as an opportunity to purchase a well-positioned community center—and one with significant long-term upside—in a core Los Angeles submarket,” says Bill Bauman the EVP and corporate managing director of Studley's National Retail Services Group, who represented Paragon Commercial Group and the seller, Woodland Hills Retail LLC, in the transaction.