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Woodland Hills Retail Center Acquires New Owner in $25M Deal
Keller Williams (KW) Commercial has brokered the $25 million sale of the Mayhew Plaza Shopping Center, a Smart & Final Extra-anchored retail plaza in Woodland Hills, CA. KW Commercial represented the buyer, GNC Properties LLC and Western Prime Holdings, LLC. The seller was J Globo LLC and SHWH LLC.
Mayhew Plaza is a 60-year-old property that was renovated in 1999. The shopping center is 96% occupied and is located on highly trafficked Ventura Boulevard that carries over 38,000 vehicles a day.
“Mayhew Plaza is an excellent Ventura Boulevard location. In this market, it is very hard to find a grocery-anchored shopping center. This was a true gem, at a 5.4% cap rate with a strong anchor tenant and The Habit, Jersey Mike’s and Domino’s as satellite tenants,” said Joe Penich, Managing Director at KW Commercial.
- ◦Sale/Acquisition
