An affiliate of Merlone Geier Partners purchased The Plaza at Golden Valley, a 618k sf, regional shopping center in Santa Clarita. It was sold by GMS Golden Valley Ranch LLC, a wholly-owned subsidiary of Terramar Retail Centers LLC. The price was not disclosed.
Situated at the Golden Valley exit of the 14 Fwy, the center’s major tenants include Target, Lowes, Kohl’s, Bed Bath & Beyond, Staples, and PetSmart.
Bill Bauman, executive vice president, and Kyle Miller, corporate managing director, with Studley represented the seller in the deal. The buyer, MGP XI REIT LLC, bought the property in an off-market deal.
The Plaza at Golden Valley services a primary trade area of more than 140,000 people with average household incomes of $100,000, and is one of the fastest growing residential markets in Los Angeles County.
The center represents the retail portion of the Golden Valley Ranch development, a project that also includes open space preserves and proposed housing. In a separate transaction within the same development, the ownership sold a single-tenant McDonald’s to a private buyer at a 4 percent cap rate. Studley facilitated the transaction. Merlone Geier Partners Affiliate Acquires 600k sf Santa Clarita Retail Center
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