HFF Brokers Sale of 281,240 SF Shopping Center in Southern California for $51.1M

SIMI VALLEY, CALIF. — HFF has arranged the sale of Mountaingate Plaza, a value-add shopping center located in Simi Valley. A joint venture between Investcorp International Realty and ScanlanKemperBard sold the property to Merlone Geier Partners for $51.1 million.

Situated on 24.8 acres at 1197-1301 E. Los Angeles Ave. and 2022-2090 First St., the property comprises eight buildings and outparcel pads. Tenants at the center include Valley Marketplace, Rite Aid, 99 Cents Only, dd’s Discounts, Black Bear Diner, Smash Burger, El Pollo Loco, Jersey Mike’s Subs, Starbucks Coffee, U.S. Armed Forces and Ventura County Health Care Agency.

Gleb Lvovich, Bryan Ley and Daniel Tyner of HFF represented the seller in the transaction.