A 100,000-square-foot shopping center in Oxnard has traded hands for $8.1 million.
Lemon Grove Plaza, located on nearly 10 acres at the corner of Oxnard Boulevard and West Vineyard Avenue, was sold by a private family trust based in Chico to LGP Land Owners LLC of Thousand Oaks, according to real estate data provider CoStar Group Inc.
The shopping center is located at 2001-2091 Oxnard Blvd. and is currently leased to national tenants including Jersey Mike’s Subs, Burger King and Econo Lube & Tune. Another tenant in the center, Smart & Final, is set to double its footprint and open a new Smart & Final retail concept there.
CBRE Group Inc. brokers Alex Kozakov, Patrick Wade, Larry Tanji, Scott Siegel and Maxx Cohen represented the sellers in the deal.
“This provides the new owner a well-located investment property, with excellent intrinsic value and zero management responsibilities,” Kozakov said in a prepared statement.