Follow on Google News News By Tag * Lucescu Realty * Ventura grocery anchored * Retail Real Estate * Shopping Center Transaction * brokerage Victoria Avenue * More Tags... Industry News News By Place Country(s) Industry News
Follow on Google News | LUCESCU REALTY Announces Sale of Ventura Village Shopping Center in Ventura for $23.25 MilBy: LUCESCU REALTY Ventura Village is an approximate 76,060-square- “It's an institutional quality piece of real estate, owned and managed for almost 20 years by one of the premier real estate investment companies in the U.S.,” noted Lucescu. “We had a very strong response from the investor community when we first brought the property to market and received interest from the full spectrum of buyers," Lucescu further commented. “Grocery anchored centers in coastal Southern California at less than replacement cost are very difficult to find." Built in 1986, Ventura Village is situated on a 6.05-acre parcel, at the southwest corner of Victoria Avenue (46,292 VPD) and Telephone Road (27,979 VPD). The property, which enjoys 700 feet of frontage along Telephone Road, is currently 93% leased. Victoria Avenue boasts on/off ramps to State Route 126 just one half mile north as well as on/off ramps to Highway 101 just one mile to the south. In addition, Telephone Road has on/off ramps to Highway 101 just one mile to the west. The average household income within a 3-mile radius is $92,959. According to Lucescu in discussing the latest market trends, "We expect core and core plus offerings to continue to garner very high investor demand due to the dearth of available inventory and the surplus of capital pursuing these types of offerings. In addition, we anticipate California’s major coastal MSAs to continue to lead the overall investment markets." LUCESCU REALTY is a market leading investment real estate services firm that uniquely combines major capital markets expertise with a complete and thorough understanding of real estate fundamentals to execute a wide range of services on behalf of its clients. Scope of services include sale transactions, advisory/consulting, debt/equity placement, market research and financial services. LUCESCU REALTY specializes in individual property and portfolio transactions, on behalf of public and private companies worldwide, involving neighborhood, community, power, and lifestyle centers, regional malls, and suburban and central business district office buildings. The hallmark of LUCESCU REALTY is its ability to maximize value through its exclusive focus on sale transactions, access to the full spectrum of both public and private investors, intimate local market knowledge through its in-house group of market analysts, tailored marketing strategies, and depth of capital market experience. LUCESCU REALTY is annually recognized as one of the most active brokerage firms in the United States. Headquartered in Newport Beach, California, LUCESCU REALTY has regional offices in Phoenix, Arizona and Las Vegas, Nevada and plans to open an office in San Francisco later this year. For more information, please visit www.lucescurealty.com. End
Account Email Address Account Phone Number Disclaimer Report Abuse
|
|