A private investor has purchased an Encino shopping center for $41.1 million. Encino Courtyard LP, a West Los Angeles-based private investor, is the new owner of the Encino Courtyard, a 99,305-sq. foot retail center on 4.01 acres on Ventura Boulevard. Encino Retail Group LLC sold the property. The shopping center, which was 97 percent leased at the time of sale, is anchored by Bed Bath & Beyond and Bally’s Total Fitness. Tom Lagos and Kyle Miller of Grubb & Ellis’ West Los Angeles office represented the buyer and the seller in the transaction. “Quality assets like Encino Courtyard are in incredibly high demand, but in short supply in today’s market,” said Lagos. “As a result, we’re seeing more off-market transactions like this one.”
