Investors Pay $70 Million for Gateway VillageThursday, April 13, 2017
Gateway Village shopping center in Santa Clarita has sold for nearly $70 million, according to commercial real estate brokerage Colliers International.
The nearly 154,000-square-foot center at 28207 to 28313 Newhall Road sold for about $455 a square foot as an off-market transaction, Colliers said, to private investors out of Long Beach who bought it under the limited liability entity Galois Group. According to CoStar Group Inc., Galois Group bought the property on behalf of Continuum Analytics of Los Angeles.
Gateway Village was built in 2005 and sits within the roughly 23 million-square-foot Valencia Gateway & Valencia Industrial master planned center, which includes industrial, retail and office tenants. Gateway Village was 95 percent leased at the time of the sale, according to Colliers. Tenants include LA Fitness, Smart & Final Extra, Coffee Bean & Tea Leaf, The Habit, US Bank and Lindora Medical.
Colliers Executive Vice President Michelle Schierberl and Senior Vice President Donald Ellis represented both the buyer and the seller, JH Real Estate Partners Inc.
“This site is well located to serve residents of Santa Clarita, which is ranked 21st in terms of retail sales out of the 480 incorporated cities in the state,” Ellis said in a statement.