Newhall Shopping Center Sells for $8.5 MillionThursday, April 18, 2013
Stagecoach Plaza, a 25,475-square-foot shopping center, has traded hands for $8.5 million.
The center, which has tenants that include Wells Fargo, Starbucks and Panda Express, was sold by AMDG Alliance LLC to Telfair Corp., both headquartered in Los Angeles.
The 23744-23792 Newhall Ave. property was built in 2006 and was 89 percent leased at the time of the sale. A Dollar Tree store located there was not part of the sale.
The center attracted multiple offers from both foreign and domestic bidders, according to broker Jeff Conover, of Faris Lee Investments of Irvine, who represented AMDG.
The sale price breaks down to $350 a square foot, which Faris Lee said was one of the highest in the Santa Clarita Valley in the past five years.
Matt Mousavi, managing director of Faris Lee, also represented the seller. Voit Co. represented Telfair.