Steve Economos and George Economos of NAI Capital Commercial in Newport Beach represented the buyer. The seller's side was negotiated by Bruce Kusada of Capital Real Estate Group of Torrance.
The single-story, three-building center was constructed in 1986 and was 92% occupied at the time of the sale. The seller had owned it for approximately 10 years. Steve Economos says the buyer was seeking a well-leased investment in a developed area with good demographics. The property is situated in a prime retail location in the community, which is in the northeast corner of the San Fernando Valley. The retail center is close to other shopping, hotels and businesses along Topanga Canyon Boulevard, a main thoroughfare of Chatsworth.
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