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Los Angeles-based LBPM negotiated the $54.7-million sale of Northridge Plaza Shopping Center, a roughly 235,000-square-foot retail center in Northridge, CA. El Segundo, CA-based Paragon Commercial Group acquired the property, and plans to maintain its original use.
Situated on 16.5 acres at 8742 to 8876 Corbin Ave., the property was developed from farmland into one of the first large-scale retail shopping centers in the San Fernando Valley in the early 1980’s.
LBPM’s Greg De Rubeis represented the seller, NLSR LP, a family-owned entity that has owned the center since it was built. Investment Real Estate Associates’ Yubin Tao advised the buyer.
Dennis Kaiser is Vice President of Content and Public Relations for
Connect Commercial Real Estate. Dennis is a communications
leader with more than 30 years of experience.
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