Hopkins purchased the four acres from Valencia-based Newhall Land and Farming Co. for $2 million, according to Bert Abel and Ray Bayat of Grubb & Ellis Co.'s North Los Angeles office. Abel and Bayat represented buyer and seller plus got the leasing assignment for the new center, which will be called Seco Canyon Village.
The center is slated to break ground later this month, with completion slated for October. The anchor tenant will be Savon Drug, which has signed a lease for 15,000 sf.
Hopkins' retail projects in Santa Clarita have included the 23,588-sf Seco Canyon Plaza at the southeast corner of Seco Canyon Boulevard and Copper Hill Road, which it built and sold last year. Its current pipeline includes the 42,000-sf River View Place, due to be completed this year at the southwest corner of Sierra Highway and Via Princessa; the 28,400-sf Valencia Village, also delivering this year at the northeast corner Newhall Ranch Road and Dickason Drive; and Highridge Crossing, a 50,000-sf center at the northeast corner of Newhall Ranch Road and Copper Hill drive, where construction will start in the fall.
Last year, Hopkins bought the 44,000-sf Stevenson Ranch Plaza, located at the southwest corner Stevenson Ranch Parkway and Hemingway Avenue, which it plans to expand with a 10,000-sf pad development for Facey Medical Group of Mission Hills. Last month, the company paid $34 million for the SouthBay Pavilion at Carson, which it plans to redevelop with the Genesis LA Real Estate Fund as an equity partner.
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