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Chesser Group Acquires Moorpark Property From London Reo Retail-CA For $20M With Avison Young Representation

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SOLD
$20,000,000

California

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SOLD

Chesser Group Acquires Moorpark Property From London Reo Retail-CA For $20M With Avison Young Representation

706 W Los Angeles Ave, Moorpark, CA...

See Similar Deals
Other129,374 SF
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Summary

CALIFORNIA
Asset Type:Other
Price Per Square Foot:$154
Total Square Footage:129374 SF
Transaction Type:Sale

The Village at Moorpark is a community shopping center located at 706 W Los Angeles Ave, Moorpark, CA. The asset has a transaction value of $20 million and encompasses a total area of 129,374 square feet. As of the sale date, the property, built in 2007, was situated on 11.5 acres and was 76.3 percent occupied, hosting tenants such as Petco, Dick’s Sporting Goods, Verizon, Bank of America, and Leslie’s Pool Supply.

Summary of transaction details:

  • Property Type: Community Shopping Center
  • Transaction Amount: $20,000,000.00
  • Address: 706 W Los Angeles Ave, Moorpark, CA
  • Market: Moorpark
  • Buyer: Chesser Group
  • Seller: London Reo Retail-CA
  • Buyer's Representative: Christopher (Chris) Maling, David Maling (Avison Young)

Chris Maling and David Maling of Avison Young represented both the buyer, Chesser Group, and the seller, London Reo Retail-CA, in this transaction. This arrangement highlights the integral role of Avison Young in facilitating the deal between the involved parties.

Players

David Maling
12 deals$98.6M volume
BROKER

Christopher (Chris) Maling
Avison Young
10 deals$79M volume
BROKER

BUYER

Details

SOLD
IMAGE: 706 W Los Angeles Ave, Moorpark, CA... MARKET: Moorpark BUYER'S REP: Christopher Maling-Avison Young, David Maling-Avison Young BUYER: Chesser Group SELLER: London Reo Retail-CA PRICE: $20,000,000.00 SF: 129374

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Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$1,066,666.67

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$71,055.77
Cash-on-Cash Return-1.27%
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