OXNARD, CA—A grocery-anchored shopping center here sold for $20 million, in an all-cash, off-market deal closed recently by Orbell Investment Group at BRC Advisors, Inc.

The deal was engineered by Orbell Ovaness, Brad Baskin, and Artin Sepanian of Orbell Investment Group. Oxnard Vineyard, LLC sold the lucrative shopping center to Loja Real Estate, LLC, a wholly-owned subsidiary of Loja Group, LLC.

The seller rehabbed a property that had included a Home Depot with a Jack In The Box outparcel, adding shop space and thus creating a center, which will serve the retail demographics of the area.  This shopping center is anchored by a 64,000-square-foot Vallarta Supermarket and a 25,000-square-foot Fallas Discount Store.  The remaining 102,711-square-foot space is leased out to tenants of smaller retail-shops.

When Oxnard Vineyard expressed an interest in selling the property on an off-market basis, Orbell Investment secured a buyer who immediately recognized the strength of the anchors within the demographic.  This allowed Orbell Investment to put this deal under contract while it was still under construction.  

"Latin American consumers are not only a large part of the current retail environment, but are also among the Nation's fastest growing demographic,” said Baskin. “This center caters to the neighborhood perfectly and will undoubtedly prove to be a solid investment.”

Orbell Ovaness, vice president for Investments at BRC Advisors, further emphasizes the strength of the deal: “Before any of the other tenants took occupancy of their respective space and before ever starting their build-outs, Vallarta opened with huge sales figures,” he said. “This center, in this specific location, is and will continue to be the nucleus of retail-shopping for this neighborhood's demographic; it's an opportune deal for any buyer.”