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VICTORVILLE, CA-VNF Properties, a Southern California-based investment group, has acquired the 202,219-sf Victorville Town Center for $14.75 million from another Southern California-based investment partnership, according to Marcus & Millichap, which says the transaction is one of the largest retail property sales to close between San Bernardino and Las Vegas this year.

Alan Krueger of the Ontario office of Marcus & Millichap represented the seller, with Drew Wetherholt and Jamie Harrison, also of the M&M Ontario office, representing the buyer. The purchase was part of a 1031 exchange for VNF.

The retail center was constructed in 1991 and occupies what the M&M brokers describe as a prime location surrounded by a rapidly growing population base in Victorville, a city of approximately 70,000 population. The center is adjacent to and visible from the I-15 Freeway. Its main tenants, which generate 86% of the property’s income, include Staples, Circuit City, Michael’s, Red Robin, Pier 1 Imports, Blimpie’s Sub & Salads and Cinemark Cinemas USA.

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