SYLMAR, CA—Primestor Development and Sarofim Realty Advisors have acquired the Sylmar Town Center, a 148,236-square-foot retail center, from a partnership between ICO Real Estate Group, Cypress Equity and Robhana Group. While the sales price is undisclosed, the list price of the property was $33 million. 

Located at 12629-12721 Glenoaks Blvd in Sylmar, the property is co-anchored by a Food 4 Less and CVS. It is 94% occupied with a tenant mix that includes, in addition to the anchor tenants, Big Lots, Bank of America, O’Reilly Auto Parts, Leslie’s Pool Supplies. These tenants pay an average rent of just over $0.67 per square foot, well below market value.  

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