Sylvia MacAller of Told Partners Inc., who represented the seller along with George MacAller of Told, tells GlobeSt.com that the property is half office and half retail space, with the retail on the bottom floor the office space on the second floor of the two-story, concrete tilt-up center.
MacAller says the new owner plans extensive renovations to the plaza, which is across the street from Topanga Plaza, a regional center anchored by department stores. Vanowen Plaza was built in the 1970s and was 98% occupied at the time of the sale.
"I think there is considerable upside to this property with the renovations," she tells GlobeSt.com.
The buyer was represented by Jeff Albee, Dan Wakamoto, Dan Powers and Tom McBride of Told Partners.
© Arc, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to TMSalesOperations@arc-network.com. For more information visit Asset & Logo Licensing.