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SANTA CLARITA, CA-GlobeSt.com has learned exclusively that Shangri-La LLC has sold the Center at Shangri-La, a 53,692-square-foot retail shopping center here, to an unidentified buyer for $10 million. The sales amount is the price equivalent of $186 per square foot for the multi-tenant center.

Gregory Mills, SVP investments in Marcus & Millichap’s Encino, CA, office, represented the seller in the transaction. “Renewed interest in the multi-tenant sector and a targeted marketing campaign created a significant amount of interest in this property,” Mills said in a prepared statement. “As the local economy continues to show momentum, investors will pursue retail centers with stable occupancies like the Center at Shangri-La.”

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