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Village at Moorpark Shopping Center Sells for $20 Million

The Village at Moorpark, a 129,374-square-foot shopping center, has sold for $20 million, according to brokerage Avison Young. Located at 706 W. Los Angeles Ave. in Moorpark, the 11.52-acre Moorpark retail center currently boasts a 76.3 percent occupancy. Tenants include Verizon, Bank of America, Petco, Dick’s Sporting Goods and Leslie’s Pool Supply. The Village at Moorpark is located at the signalized intersection of W. Los Angeles Avenue and Miller Parkway, with direct access to highway 23. Avison Young Principals Chris Maling and David Maling, based in the firm’s downtown Los Angeles office, represented seller London Reo Retail-CA LLC, a Delaware limited liability company. They also represented buyer Chesser Group Inc. “This asset offered the buyer an opportunity for immediate upside by filling the vacancy through the implementation of a leasing strategy aimed at attracting daily needs/service-oriented tenants,” Chris Maling said in a statement.

Michael Aushenker
Michael Aushenker
A graduate of Cornell University, Michael covers commercial real estate for the San Fernando Valley Business Journal. Prior to the Business Journal, Michael covered the community and entertainment beats as a staff writer for various newspapers, including the Jewish Journal of Greater Los Angeles, The Palisadian-Post, The Argonaut and Acorn Newspapers. He has also freelanced for the Santa Barbara Independent, VC Reporter, Malibu Times and Los Feliz Ledger.
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