DALLAS (July 20, 2017) – SRS’ Investment Properties Group (IPG) recently announced the sale of Canoga Plaza, a 15,291-square-foot retail center in Canoga Park, Calif. The buyer, a local non-1031 exchange Los Angeles based private investor, acquired the center for $8.8 million. Canoga Plaza features a mix of national and local tenants across two separate buildings, and is an extremely rare opportunity within the Los Angeles Valley retail market. SRS was the broker for the seller in the transaction.
SRS’ IPG utilized its centralized marketing efforts, collaborative platform and deep understanding of the Los Angeles Valley market to position the property, and its extensive network of investors to locate the ideal buyer for the property.
“Canoga Park Plaza is located at an irreplaceable hard corner in the Valley. The asset was well maintained and has excellent access and frontage on a highly trafficked intersection,” said Matthew Mousavi, managing principal of SRS’ National Net Lease Group and Investment Properties Group. “Because of our in house leasing presence, we were able to put forth a leasing plan for a new investor to maximize the potential of the center. We received multiple offers and ultimately sourced a private, non-1031 investor who plans to hold the asset long term.”
Matthew Mousavi and Patrick Luther, both managing principals of SRS’ National Net Lease Group and Investment Properties Group, facilitated the sale of Canoga Plaza.
About SRS Real Estate Partners
SRS Real Estate Partners is the largest real estate company in the U.S. exclusively dedicated to retail services. Headquartered in Dallas with more than 20 offices worldwide, SRS’ strong reach and international presence provide the company with unparalleled knowledge both globally and domestically. As a result, clients of SRS have a competitive edge through a full range of offerings including brokerage services, corporate services, development services, and investment services. Since its inception in 1986, SRS has built a strong foundation in the retail real estate world and grown into one of the industry’s most influential and respected leaders.Our success is measured in the achievement of our clients’ objectives, satisfaction and trust. For more information, please visit srsre.com.