Colliers International's Schierberl and Ellis sell JH Real Estate Partners’ Gateway Village Center to Galois Group
SANTA CLARITA, CA – April 12, 2017 – In an off-market transaction that demonstrates the unrelenting strength of Southern California’s suburban retail market, Colliers International has negotiated the $69.5 million sale of Gateway Village Shopping Center in Santa Clarita, a neighborhood center that serves the daily needs of its affluent customer base living and working in the Los Angeles County’s third-largest municipality.
Colliers Executive Vice President Michelle Schierberl and Senior Vice President Donald Ellis, both based in the brokerage firm’s Irvine, Calif. offices, brought the center’s owner, JH Real Estate Partners, based in Newport Beach, and the buyer, Galois Group, a private investment group based in Long Beach, together in the off-market transaction.
Built in 2005 and located at 28207-28313 Newhall Ranch Road, the 153,686-square-foot center is 95% occupied with just one vacant space. Anchor tenants include LA Fitness, Smart & Final Extra, Coffee Bean & Tea, The Habit, US Bank and Lindora Medical.
The Center services the everyday needs of the affluent Santa Clarita community that surrounds it. Its location Newhall Ranch Road, also known as The Cross Valley Connector, provides easy access to Interstate 5 and the Antelope Valley Freeway (State Route 14) with traffic counts of over 60,000 cars a day.
“This site is well located to serve residents of Santa Clarita, which is ranked 21st in terms of retails sales out of the 480 incorporated cities in the state,” said Ellis. “It also benefits from the local employment base, which can choose from an array of restaurants that range from fast-casual to sit down as well as other support service retailers.”
It is part of Valencia Gateway & Valencia Industrial, which is comprised of 22.5 million square feet of industrial, retail, and office. It is the largest master-planned center for business, technology, and industry in Los Angeles County.
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