William Gerrity Of Gerrity Group Acquires Retail Property In Thousand Oaks For $45.5M

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.