The Smart & Final Center in Simi Valley has been purchased by Milan Capital Management of Anaheim for $16.9 million. The 99,660-square-foot retail center was built in 1965 on 6.8 acres, and is anchored by a 20,000-square-foot Smart & Final Inc. outlet. Marty Cohan, vice president investments, and Douglas Cole, associate, both at the West Los Angeles office of Marcus & Millichap Inc., represented both the seller, Sv Marketplace of Anaheim, and the buyer, Milan. The sale was announced Wednesday. “Well-located centers with value-add possibilities such the Simi Valley shopping center are attracting a great deal of attention from across the investment spectrum,” said Cohan, in a statement. “The center’s new owner competed aggressively for the property.” The center is located at the busy corner of Los Angeles Street and Erringer Road. Milan Capital Management owns various commercial properties in Southern California. Its Valley holdings include the eight-story, 87,722-square-foot office building at 6400 Laurel Canyon Boulevard in North Hollywood, and the Panorama Point, a 44-unit apartment building in Panorama City.
