Moorpark Neighborhood Retail Trades for $20M

Camarillo-based Chesser Group Inc. has acquired a neighborhood shopping center, The Village at Moorpark, for $20 million. The 129,374-square-foot community shopping center is located at 706 West Los Angeles Ave. in Ventura County’s Moorpark, CA, north of Los Angeles.

Avison Young’s Chris Maling and David Maling represented all parties in the transaction, including the seller, London Reo Retail-CA, LLC.

Built in 2007 and situated on 11.52 acres, the center was 76.3% occupied at time of acquisition by a number of well-recognized retailers including Petco, Dick’s Sporting Goods, Verizon, Bank of America, and Leslie’s Pool Supply, among others.

According to Chris Maling, “This asset offered the buyer an opportunity for immediate upside by filling the vacancy through the implementation of a leasing strategy aimed at attracting daily needs/service-oriented tenants.”

For comments, questions or concerns, please contact Chris Egger