A 232 unit multifamily complex is currently under contract (asking price of $17,500,000) located at 1650 W. Avenue K-8 in Lancaster, according to Costar. The capitalization rate based on the asking price is 5.64%. NAI Capital is the listing broker.
An 85% interest in Canyon Square Plaza, a 96,662 square feet community shopping center in Canyon Country in the Santa Clarita Valley, was sold June 28, 2013. KIMCO, a national REIT, purchased the remaining 85% interest they did not own from a joint venture partnership.
The Valencia Village shopping center closed June 28, 2013 for $10,687,000 (listed for $11,685,000, representing an approximate 8.00% cap rate. The property is at the southeast corner of Newhall Ranch Road and Dickason Streets in Valencia. The sale involved 43% cash at the closing to an assumed loan.
A 105,715 square foot light industrial building sold for $5,000,000 at 46147 7th Street West in Lancaster, and was sold by Rexhall Industries (maker of motor coaches) to BYD Coach and Bus, LLC. The price per square foot was $47.30
On June 25, 2013, Golden Oaks Pavilion closed escrow, located at 23101-23107 Lyons Avenue in Newhall. This multi-tenant office/retail building sold for $2,650,000 or $205.55 per square foot. The buyer will occupy a portion of the building and had put 25% down to a new loan. The seller was represented by NAI Capital.
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