1/13/2007

Triple Net acquires Castaic Town Center in Los Angeles

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Castaic Town Center

California-based commercial real estate company Triple Net Properties has paid $15.4 million for the 40,100 square-foot Castaic Town Center in the Santa Clarita Valley submarket of Los Angeles.

NAI Capital represented the Castaic Town Center LLC in the sale at $32 per square foot.

Located at 27900 Sloan Canyon Rd. in Castaic, the Castaic Town Center is a retail shopping center built in 2005. Walgreen's anchors the shopping center, which was 85.9 percent full with 11 tenants at the time of the sale and also housed an NAI Capital office and Lollie's Restaurant & Bakery. The development sits on approximately 11 acres and is in close proximity to Interstate 5.

Triple Net Properties, LLC is a wholly owned subsidiary of NNN Realty Advisors, Inc., a nationwide commercial real estate asset management and services firm. They manage a portfolio of more than 36 million square feet of real estate, including nearly 8,400 apartment units, with a combined market value of approximately $4.9 billion.

Address: 27900 Sloan Canyon Rd.

Size: 40,100 square feet

Built: 2005

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Filed Under: Retail

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