The building that hosts an LA Fitness gym at 3057 Grande Vista Drive in Newbury Park has sold for an undisclosed price. The 37,346-square-foot retail building is located inside the Village at Newbury Park shopping center at 2715-2725 Teller Road. The subset property had been listed on the market for $15 million. Richard Rizika and Yvonne Shum of Beta represented the seller, Academy Road LLC. Mark Thiel of Calabasas-based broker Marcus & Millichap Inc.’s San Diego office represented the buyer, AHS Property Inc. The building is leased to LA Fitness through 2034. “This property represented a tremendous opportunity for an investor to acquire a single-tenant leased investment in an affluent Southern California community,” Rizika said in a statement. “The buyer was attracted to the new development, freeway visibility and overall demographics of the area.” Under construction throughout 2018, The Village at Newbury Park, a 575,644-square-foot regional shopping center, came online earlier this year. Other tenants include a Target, Home Depot, Staples, Lowe’s and PetSmart. Newbury Park is currently seeing its share of real estate movements. In addition to senior living projects in the area, an entity dubbed Daylight Thousand Oaks LLC will soon build a 201-unit apartment complex and a 120-room hotel on the 101 freeway-adjacent parcel at Kelley and Newbury roads once home to the Timber School. Daylight Thousand Oaks wants to preserve the school’s original buildings in the process, incorporating into its grand plan what was once an administrative office with bell tower built in 1924, and a 1948-built auditorium, respectively.
