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California  + Los Angeles  + Retail  | 

Thousand Oaks Shopping Center Trades to Gerrity Group

Newmark Pacific completed the $45.5-million sale of Conejo Valley Plaza, a 127,032-square-foot grocery-anchored shopping center located in Thousand Oaks. Gerrity Group, LLC acquired the property. Newmark Pacific vice chairman Pete Bethea and senior managing directors Rob Ippolito and Glenn Rudy represented the seller, Conejo Valley Plaza 1, LLC and Conejo Valley Plaza 2, LLC.

Anchored by Ralphs and Bank of America and shadow-anchored by Marshalls, HomeGoods, CVS and several daily-needs retailers, Conejo Valley Plaza benefits from high visibility along North Moorpark Road and East Janss Road. Additional value-add potential exists through lease-up of a prominent former JoAnn’s space.

“This transaction is a testament to the enduring investor demand for well-located, necessity-driven retail assets,” said Rudy. “This portion of Conejo Valley Plaza combines a stable rent roll with category-leading tenants and a unique value-add opportunity in re-tenanting the former JoAnn’s facility, making it an attractive investment opportunity in today’s market.”

Photo courtesy of Radius Commercial Real Estate.

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Sale/Acquisition
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