COMMERCIAL REAL ESTATE TRANSACTION ALERT
Matthew Sullivan and Shane Hariz of the Investment Services Group (ISG) of Lee & Associates, the largest broker-owned commercial real estate firm in North America, have negotiated the $21 million sale of Victor Valley Town Center, a ± 135,140 SF retail center located in Victorville, CA.
The property contains multiple one-story buildings on multiple parcels. The property is easily accessible through multiple ingress/egress points on Hesperia Road and Bear Valley Road. Anchored by Ross, the property features an excellent mix of tenants. National tenants account for over 43.7 % of the center’s occupancy. Subject property offers great street visibility and frontage on a heavily traveled major street through Victorville. Victor Valley Town Center offers ample surface parking for tenants and visitors. The property offers nearby access to the 15 Freeway (Right off Bear Valley Road exit). Victor Valley Town Center is also ideally located adjacent to other major tenants such as Vons, US Bank Taco Bell, Carl’s Jr, In-N-Out, Del Taco, Jack In the Box, CVS and Walgreens.
Matthew Sullivan, managing director and principal, and Shane Hariz, senior investment advisor, of Lee & Associates – Investment Services Group, the investment advisory arm of the company, represented both the seller and buyer on this transaction.