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Retail Investors Find Better Yields in the Valley

LOS ANGELES—Two separate investors scoop-up value-add retail shopping centers in Palmdale and Oxnard, where the yields are better, for a combined $27 million.

By Kelsi Maree Borland | Updated on March 31, 2015

LOS ANGELES—Retail investors are heading to markets in the valley for better yields. Two separate investors acquired value-add shopping centers in Oxnard and Palmdale for a combined $27 million. The two purchases show a trend of investors looking for investment opportunities in alternative markets as cap rates continue to compress in Los Angeles.

“Cap rates are still compressing and premiums are consistently being paid for quality in-fill Los Angeles retail,” Bill Asher, EVP of Hanley Investments and one of the brokers who worked on the two transactions, tells GlobeSt.com. “Areas north of Los Angeles like Oxnard or Palmdale have become viable alternatives for investors chasing better yield, yet still retaining a secure location and tenant mix, with future upside.” Asher along with Hanley Investment president Ed Hanley and SVP Kevin Fryman represented the seller in the Oxnard transaction and the buyer and seller in the Palmdale transaction.

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