Private 1031-exchange Investor Acquires Property In Simi Valley For $22.1 Million With JLL's Daniel Tyner As Seller's Rep

The property involved in this transaction is Griffin Plaza, a shopping center located at 3977 Cochran St, Simi Valley, CA 930. The asset was acquired for $22,100,000.00. Griffin Plaza encompasses 85,022 square feet of retail space and was built in 1981, later undergoing renovation in 2019. At the time of the acquisition, the property was 94 percent occupied with current tenants including Aldi, CVS/pharmacy, Wendy’s, and Varenita Assisted Living Community, which consists of 102 senior housing units located within the plaza.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $22,100,000.00
• Address: 3977 Cochran St, Simi Valley, CA 930
• Market: Simi Valley
• Seller's Representative: Daniel Tyner - JLL
• Buyer: Private 1031-exchange Investor
• Square Footage: 85,022

The deal was facilitated by brokers Gleb Lvovich, Daniel Tyner, and Geoff Tranchina from JLL Retail Capital Markets, who represented the seller in the transaction.