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SANTA CLARITA, CA-A private investor has purchased a 72,000-sf retail center in this northern suburb of Los Angeles for $6.1 million from Tokai Bank of California.

The development, Sierra Crest Center, stands on the northwest corner of ViaPrincessa and Sierra Highway. It is anchored by a Taco Bell fast-food restaurant and a Firestone tire dealership.

The complex was 75% leased at the time of the sale, according to the Grubb & Ellis brokers in Newport Beach who handled both sides of the transaction.

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