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SIMI VALLEY, CALIF. — Woodland Hills, Calif.-based Toibb Enterprises has completed the disposition of Simi Valley Promenade, a retail center located at 5105-5197 E. Los Angeles Ave. in Simi Valley. A Chino Hills-based private investor acquired the asset for $19.5 million.
Smart & Final, Goodwill, Del Taco, Denny’s, Baskin Robbins, Chi Chi’s Pizza and H&R Block are tenants at the 82,366-square-foot Simi Valley Promenade, which was built in 1981 and most recently renovated in 2002. At the time of sale, the property was 92 percent occupied.
Bill Ashe, Jeff Lefko and Ed Hanley of Hanley Investment Group represented the buyer, while Avi Narang of Beverly Hills-based BRC Advisors represented the seller in the deal.