OXNARD, CA—A grocery-anchored shopping center here sold for $20 million, in an all-cash, off-market deal closed recently by Orbell Investment Group at BRC Advisors, Inc.
The deal was engineered by Orbell Ovaness, Brad Baskin, and Artin Sepanian of Orbell Investment Group. Oxnard Vineyard, LLC sold the lucrative shopping center to Loja Real Estate, LLC, a wholly-owned subsidiary of Loja Group, LLC.
The seller rehabbed a property that had included a Home Depot with a Jack In The Box outparcel, adding shop space and thus creating a center, which will serve the retail demographics of the area. This shopping center is anchored by a 64,000-square-foot Vallarta Supermarket and a 25,000-square-foot Fallas Discount Store. The remaining 102,711-square-foot space is leased out to tenants of smaller retail-shops.
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David Phillips
David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.
