Updated Sep 30, 2025
William Gerrity Of Gerrity Group Acquires Retail Property In Thousand Oaks For $45.5M
1516 North Moorpark Road
$45,500,000
$358/SF
Building Size
127,032 SF
Asset Type
Retail
Closing
Sep 26, 2025
About this deal
AI
The retail asset located at 1388 & 1516 North Moorpark Road in Thousand Oaks has been sold for $45.5 million. This 127,032-square-foot property features tenants including Ralphs and Bank of America, with additional shadow anchors such as Marshalls, HomeGoods, and CVS. The center was constructed in 1972 and has been a significant component of the local market.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $45,500,000
- Square Footage: 127,032
- Price Per Square Foot: $358.20
- Buyer: William Gerrity - Gerrity Group
- Seller: Milan Properties
- Brokers: Pete Bethea, Rob Ippolito & Glenn Rudy - Newmark
- Market: Thousand Oaks
The deal was brokered by Newmark, with Pete Bethea, Rob Ippolito, and Glenn Rudy representing the transaction. The acquisition of the Conejo Valley Plaza by Gerrity Group highlights their interest in retail properties within the Thousand Oaks area.
On the Map
$45,500,000
$358/SF
Retail
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Players
Thousand Oaks Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.35%
Cash-on-Cash
-0.10%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93