The buyer paid $14.7 million for the property, which is located at 12960 Foothill Blvd. The building is being expanded from 106,000 sf to 139,000 sf, in order to accommodate Home Depot's growth at the site.
Big-box retailers, such as Home Depot, Target and Walmart, are making a concerted push in Southern California, says Jack Kyser, chief economist of the LA County Economic Development Corp.
"We have seen a significant amount of large retail investment transactions in the Valley over the past six months," says William Bauman of Colliers Seeley International, who brokered the deal.
Bauman and Mark Lucescu of Marcus & Millichap represented the seller, Regency Centers. Westlake-based Westcord Commercial represented the buyer, Oxnard-based O'Hearn Trust.
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