Park Oaks, a Thousand Oaks retail center, has changed hands as part of a $109 million portfolio sale of three shopping centers.
Retail Opportunity Investment Corporation, a San Diego shopping center real estate investment trust, acquired the 370,400-square-foot portfolio from Decron Properties Corp. in Los Angeles, in a sale that closed this month...
Initially, Mission Foothill Plaza was the only asset marketed for sale in a competitive bidding process, but Retail Opportunity put in an additional bid on the Thousand Oaks and Ontario properties, according to a press release issued by Savills Studley, the San Francisco brokerage that represented the seller.
“The terms were very compelling, with short due-diligence timeframes and significant non-refundable deposits,” said Studley broker Kyle Miller, corporate managing director, National Retail Service Group, who worked on the deal.
Bill Bauman, executive vice president at Studley, also represented the seller.T.O. Shopping Center in $109 Million Portfolio Deal
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