A joint venture between Investec Real Estate Cos. in Santa Barbara and DRA Advisors out of New York has acquired the 356,864-square-foot retail center The Esplanade in Oxnard for $96 million, according to a CoStar Group report.
The big box site’s seller, Brixmor Property Group of New York, was represented by Bill Bauman, Kyle Miller and Matthew Schwartz of NKF Capital Markets. The buyers represented themselves.
The Esplanade, which sits on 31.4 acres of Ventura County property just off the 101 freeway, is currently 93 percent occupied.
Developed in the early 2000s, the open-air retail center, featuring eight buildings at 151 to 461 W. Esplanade Drive, is anchored by tenants Home Depot, Walmart Neighborhood Market, TJ Maxx, Bob’s Discount Furniture and Dick’s Sporting Goods.
Based in Santa Barbara, Investec oversees some 3 million square feet of coastal California retail properties worth more than $600 million.