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Wednesday, May 25, 2022
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Sylmar Shopping Center Sells for $16.8 Million

The Sylmar Square Shopping Center has sold for $16.8 million – the largest retail sale in the northeast Valley in more than a year. The 140,000-square-foot center at 13700-13790 Foothill Blvd. was bought by Levy Affiliated Holdings LLC of Santa Monica from C-III Asset Management of Irving, Texas. Fariba Kavian, senior vice president with NAI Capital’s West L.A. office, represented C-III. She said the listing garnered a lot of attention and nearly 20 offers. “This listing generated an auction environment where buyers aggressively competed for the chance to purchase this highly desirable value-add property,” she said in a statement. The center was built in 1957 and is comprised of one- and two-story, multitenant buildings at Foothill Boulevard and Sayre Street. It’s anchored by a Vons supermarket, Chase branch, Verizon store and Payless ShoeSource. NAI announced the sale on Wednesday.

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