Valencia Shopping Center Sold for $9.8 Million

A 45,429-square-foot retail center in Santa Clarita has sold to a private investor for $9.8 million, or nearly $216 a square foot, according to Colliers International. Located at 23300-23314 Valencia Blvd., the property sold at a 6 percent cap rate, according to Colliers. An entity called DP Santa Clarita LLC was the seller, and the buyer was a private investor. Built in 1973 and renovated in 2012, the 3.54-acre center is currently 100 percent leased to 99 Cents Only and Harbor Freight Tools. Harbor Freight has a lease through the end of 2023 while 99 Cents Only has committed until January 2028. Colliers International Executive Vice Presidents David Maling and Chris Maling represented the seller.