IREA Negotiates $54.7 Million Sale of Retail Center in Metro Los Angeles

Target, Kohl’s and Wells Fargo anchor Northridge Plaza Shopping Center, located roughly 30 miles outside Los Angeles. Target, Kohl’s and Wells Fargo anchor Northridge Plaza Shopping Center, located roughly 30 miles outside Los Angeles.

Northridge, Calif. — Investment Real Estate Associates (IREA) has arranged the $54.7 million sale of the Northridge Plaza Shopping Center, located roughly 30 miles outside Los Angeles in Northridge.

The property had been family owned for 37 years and this transaction is the first time it has changed hands since being built in 1980. The 235,000-square-foot shopping center is located at 8741-8840 Corbin Ave. Anchor tenants include Target, Kohl’s and Wells Fargo. Yubin Tao of IREA and Greg De Rubeis of LBPM represented the buyer, Paragon Commercial Group, and the seller, NLSR LP.

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