{"id":1004046248,"date":"2012-09-07T07:27:01","date_gmt":"2012-09-07T15:27:01","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004046248"},"modified":"2022-12-09T00:46:05","modified_gmt":"2022-12-09T08:46:05","slug":"coramerica-invests-90m-in-suburban-la-retail-property","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/coramerica-invests-90m-in-suburban-la-retail-property\/","title":{"rendered":"CorAmerica Invests $90M in Suburban LA Retail Property"},"content":{"rendered":"

\"\"<\/a>By Barbra Murray, Contributing Editor<\/p>\n

CorAmerica Capital has added 254,000 square feet of retail to its holdings with the recent acquisition of Nordhoff Plaza, a Class A community center in Northridge, Calif. The real estate investment firm made the purchase in a joint venture with an institutional partner at a total capitalization of approximately $90 million.<\/p>\n

It’s got the right location. Occupying approximately 15 acres, approximately 25 miles outside of downtown Los Angeles, Nordhoff Plaza has the advantage of sitting within a high-density submarket in the San Fernando Valley. The property, which underwent a $35 million renovation in 2008, also benefits from its close proximity to the 1.5 million-square-foot Northridge Fashion Center, which sits just across the street.<\/p>\n

Additionally, Nordhoff Plaza has a sizeable list of national retailers in anchor positions, including Bed Bath & Beyond, Best Buy and Office Max. However, what the shopping center does not have is a full tenant roster, and therein lies the value-add opportunity for CorAmerica. The current vacancy rate in the San Fernando Valley retail market is just 5.01 percent, according to a second quarter report by commercial real estate services firm Voit Co.<\/p>\n

CorAmerica has tapped Wilson Commercial to spearhead leasing at the property. Additionally, the company will make additional capital improvements.<\/p>\n","protected":false},"excerpt":{"rendered":"

CorAmerica has bought Nordhoff Plaza, a Class A community center in Northridge, Calif., for approximately $90 million.<\/p>\n","protected":false},"author":969,"featured_media":1004046250,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21784,21808,21783,21742,21749],"tags":[],"class_list":["post-1004046248","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-brokerage","category-featured","category-investment","category-latest","category-retail"],"acf":[],"yoast_head":"\nCorAmerica Invests $90M in Suburban LA Retail Property - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/coramerica-invests-90m-in-suburban-la-retail-property\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"CorAmerica Invests $90M in Suburban LA Retail Property\" \/>\n<meta property=\"og:description\" content=\"CorAmerica has bought Nordhoff Plaza, a Class A community center in Northridge, Calif., for approximately $90 million.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/coramerica-invests-90m-in-suburban-la-retail-property\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2012-09-07T15:27:01+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-09T08:46:05+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2012\/09\/Nordhoff-Plaza.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"3264\" \/>\n\t<meta property=\"og:image:height\" content=\"2448\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Barbra Murray\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/coramerica-invests-90m-in-suburban-la-retail-property\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/coramerica-invests-90m-in-suburban-la-retail-property\\\/\"},\"author\":{\"name\":\"Barbra Murray\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/d1edda962dd3af55af8a203870f9fc32\"},\"headline\":\"CorAmerica Invests $90M in Suburban LA Retail Property\",\"datePublished\":\"2012-09-07T15:27:01+00:00\",\"dateModified\":\"2022-12-09T08:46:05+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/coramerica-invests-90m-in-suburban-la-retail-property\\\/\"},\"wordCount\":211,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/coramerica-invests-90m-in-suburban-la-retail-property\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2012\\\/09\\\/Nordhoff-Plaza.jpg\",\"articleSection\":[\"Brokerage\",\"Featured\",\"Investment\",\"News\",\"Retail\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/coramerica-invests-90m-in-suburban-la-retail-property\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/coramerica-invests-90m-in-suburban-la-retail-property\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/coramerica-invests-90m-in-suburban-la-retail-property\\\/\",\"name\":\"CorAmerica Invests $90M in Suburban LA Retail Property - 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