Avison Young has closed the $20 million sale of The Village at Moorpark, a 129,374-square-foot retail property in Moorpark, Calif. Chesser Group acquired the asset from Colony Capital, according to public records. YAM Capital provided the new owner with fixed-rate acquisition financing. Principals Chris and David Maling represented both buyer and seller.
Located on a 12-acre parcel at 706 W. Los Angeles Ave., the retail property opened its doors in 2007. At the time of sale, the center was 76.3 percent occupied by a mix of tenants including Bank of America, Dick’s Sporting Goods, Verizon and Petco.
The shopping center is positioned at the southwest corner of the intersection of Los Angeles Avenue and Miller Parkway, some 50 miles northwest of Los Angeles’ urban core and a stone’s throw from the Moorpark Freeway.
The deal is one of several major dispositions from Colony Capital so far this year. In January, the investor traded two suburban Boston office properties totaling nearly 300,000 square feet.