Ventura Shopping Center Changes Hands

Poinsettia Plaza, a shopping center in Ventura, has sold for $50 million. Representing itself in the transaction was IRA Capital Advisors of Irvine, which purchased the 153,200-square-foot property from Poinsettia Plaza LLC. Dixie Walker and Charley Simpson from Cushman & Wakefield’s retail services group in Irvine represented the seller in the deal. “The pricing achieved in a secondary market speaks to the value of the location and demonstrates the significant amount of capital chasing value added opportunities,” said Walker in a statement. “We received 13 offers from very qualified groups, including institutions, REITs, private capital and foreign investors. Located at 4220 through 4360 E. Main Street, the shopping center is currently 84 percent leased and includes tenants such as Ross Dress for Less, Office Depot, Petco and Starbucks.