Canyon Square Plaza in the Santa Clarita Valley has sold for $22.5 million, according to Cushman & Wakefield.
The roughly 97,000-square-foot shopping center at 18507 to 18597 Soledad Canyon Road in Canyon Country is anchored by a 41,000-square-foot Vallarta Supermarket. It sold to an undisclosed investor, the brokerage firm said. It was sold by Kimco Realty Corp. in New Hyde Park, N.Y., which bought it for $15.8 million in June 2013, according to CoStar Group Inc.
The center was 96 percent occupied at the time of the sale, according to Cushman & Wakefield. It sits at the busiest intersection on Santa Clarita Valley’s east side – the northwest corner of Soledad Canyon Road and Sierra Highway.
Cushman & Wakefield Managing Directors Dixie Walker and Charley Simpson brokered the deal on behalf of the seller.
“Canyon Square Plaza provided the market with an excellent opportunity to acquire a coveted ‘daily needs draw’ grocery-anchored center in a prime location and trade area with strong traffic counts,” Walker said in a statement.
Carol Lawrence is a staff reporter at Los Angeles Business Journal sister publication San Fernando Valley Business Journal.