REIT Makes Big Retail Buy in the Valley

Vons anchors the 149,000-square-foot shopping center.

LOS ANGELES—A publicly traded REIT has purchased Bouquet Center, a 149,000-square-foot grocery-anchored retail center in the Santa Clarita, GlobeSt.com has learned exclusively. The details of the transaction were not disclosed, but we have learned from industry sources that Retail Opportunity Investment Corp. purchased the property for nearly $60. The sale price equates to $396 per square foot.

“Bouquet Center represented a unique opportunity to acquire the entire center including the anchors, shop tenants and pad buildings,” Ed Hanley, president of Hanley Investment Group Real Estate Advisors, tells GlobeSt.com. Hanley represented the seller in the transaction, along with SVP Kevin Fryman, and for confidentiality reasons was limited in what he could discuss about the sale.