{"id":1004121488,"date":"2015-06-18T05:17:41","date_gmt":"2015-06-18T13:17:41","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=353066"},"modified":"2022-12-02T07:40:11","modified_gmt":"2022-12-02T15:40:11","slug":"nai-capital-closes-sale-on-retail-asset-in-inland-empire","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/nai-capital-closes-sale-on-retail-asset-in-inland-empire\/","title":{"rendered":"NAI Capital Closes Sale on Retail Asset in Inland Empire"},"content":{"rendered":"<p style=\"text-align: justify\"><em>By Anca Gagiuc, Associate Editor<\/em><\/p>\n<p style=\"text-align: justify\"><a href=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2015\/06\/NAI-Capital_logo.png\"><img decoding=\"async\" loading=\"lazy\" class=\"alignleft size-medium wp-image-353067\" title=\"NAI Capital_logo\" src=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2015\/06\/NAI-Capital_logo.png\" alt=\"\" width=\"300\" height=\"97\" \/><\/a>The former Mervyn\u2019s building at Ridgecrest Town Center in the city of Ridgecrest is under new ownership. The retail asset was acquired from China Lake 700, LLC by Newport Coast-based investor El Rey Properties, LLC.<\/p>\n<p style=\"text-align: justify\">The single-story community center was built in 1987 and encompasses 204,709 square feet of space. It is located at the corner of N. China Lake Blvd. &amp; Drummond Ave. and offers open air shopping with about 32 stores that are currently leased by Big Lots, Big 5, Starter Brothers, Goodwill, Kragen Auto, and Starbucks.<\/p>\n<p>El Rey Properties acquired the 59,909-square-foot asset for $5.8 million, which breaks down to well over\u00a0 $97 per square foot.<span style=\"text-align: justify\">\u00a0Senior Vice President Steve Heri and Vice President Steve Gim of NAI Capital represented the buyer in the transaction. <\/span><\/p>\n<p><span style=\"text-align: justify\">At the time of the sale, the asset was 100% leased to Jo-Ann Fabrics &amp; Crafts, Marshals, and DSS shoes. \u201cThis property presented El Rey Properties with the opportunity to buy into the dominant grocery anchored center in Ridgecrest with a high yield potential,\u201d said Heri in an official statement. \u201cWith a rebound in consumer spending under way, this investment provides great upside potential for long term appreciation and cash flow,\u201d Gim\u00a0added .<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The former Mervyn&rsquo;s building at Ridgecrest Town Center in the city of Ridgecrest is under new ownership. The retail asset was acquired from China Lake 700, LLC by Newport Coast-headquartered investor El Rey Properties, LLC.<\/p>\n","protected":false},"author":237,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1594,21742],"tags":[],"class_list":["post-1004121488","post","type-post","status-publish","format-standard","hentry","category-los-angeles","category-latest"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>NAI Capital Closes Sale on Retail Asset in Inland Empire - 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\/nai-capital-closes-sale-on-retail-asset-in-inland-empire\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"NAI Capital Closes Sale on Retail Asset in Inland Empire\" \/>\n<meta property=\"og:description\" content=\"The former Mervyn&rsquo;s building at Ridgecrest Town Center in the city of Ridgecrest is under new ownership. The retail asset was acquired from China Lake 700, LLC by Newport Coast-headquartered investor El Rey Properties, LLC.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/nai-capital-closes-sale-on-retail-asset-in-inland-empire\/\" \/>\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=\"2015-06-18T13:17:41+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-02T15:40:11+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2015\/06\/NAI-Capital_logo.png\" \/>\n<meta name=\"author\" content=\"Anca Gagiuc\" \/>\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\\\/nai-capital-closes-sale-on-retail-asset-in-inland-empire\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/nai-capital-closes-sale-on-retail-asset-in-inland-empire\\\/\"},\"author\":{\"name\":\"Anca Gagiuc\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/340a1a5e8e7dd137bd91ca1dd3a2e9d7\"},\"headline\":\"NAI Capital Closes Sale on Retail Asset in Inland Empire\",\"datePublished\":\"2015-06-18T13:17:41+00:00\",\"dateModified\":\"2022-12-02T15:40:11+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/nai-capital-closes-sale-on-retail-asset-in-inland-empire\\\/\"},\"wordCount\":209,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/nai-capital-closes-sale-on-retail-asset-in-inland-empire\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/synd.yardi.com\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2015\\\/06\\\/NAI-Capital_logo.png\",\"articleSection\":[\"Los Angeles\",\"News\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/nai-capital-closes-sale-on-retail-asset-in-inland-empire\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/nai-capital-closes-sale-on-retail-asset-in-inland-empire\\\/\",\"name\":\"NAI Capital Closes Sale on Retail Asset in Inland Empire - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/nai-capital-closes-sale-on-retail-asset-in-inland-empire\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/nai-capital-closes-sale-on-retail-asset-in-inland-empire\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/synd.yardi.com\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2015\\\/06\\\/NAI-Capital_logo.png\",\"datePublished\":\"2015-06-18T13:17:41+00:00\",\"dateModified\":\"2022-12-02T15:40:11+00:00\",\"author\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/340a1a5e8e7dd137bd91ca1dd3a2e9d7\"},\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/nai-capital-closes-sale-on-retail-asset-in-inland-empire\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/nai-capital-closes-sale-on-retail-asset-in-inland-empire\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/nai-capital-closes-sale-on-retail-asset-in-inland-empire\\\/#primaryimage\",\"url\":\"https:\\\/\\\/synd.yardi.com\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2015\\\/06\\\/NAI-Capital_logo.png\",\"contentUrl\":\"https:\\\/\\\/synd.yardi.com\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2015\\\/06\\\/NAI-Capital_logo.png\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/nai-capital-closes-sale-on-retail-asset-in-inland-empire\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"NAI Capital Closes Sale on Retail Asset in Inland Empire\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#website\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/\",\"name\":\"Commercial Property Executive\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/340a1a5e8e7dd137bd91ca1dd3a2e9d7\",\"name\":\"Anca Gagiuc\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/d3faafbc9e42cee6d04189129d2ee35dc7818b52bae9848e065f3b86af1df47e?s=96&d=mm&r=g\",\"url\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/d3faafbc9e42cee6d04189129d2ee35dc7818b52bae9848e065f3b86af1df47e?s=96&d=mm&r=g\",\"contentUrl\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/d3faafbc9e42cee6d04189129d2ee35dc7818b52bae9848e065f3b86af1df47e?s=96&d=mm&r=g\",\"caption\":\"Anca Gagiuc\"},\"description\":\"Anca Gagiuc brings more than a decade of experience within the real estate industry. She is a senior associate editor with Commercial Property Executive and Multi-Housing News who also writes monthly multifamily reports at Yardi Matrix. Contact Anca at anca.gagiuc@cpe-mhn.com\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/author\\\/anca-gagiuc\\\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"NAI Capital Closes Sale on Retail Asset in Inland Empire - Commercial Property Executive","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.commercialsearch.com\/news\/nai-capital-closes-sale-on-retail-asset-in-inland-empire\/","og_locale":"en_US","og_type":"article","og_title":"NAI Capital Closes Sale on Retail Asset in Inland Empire","og_description":"The former Mervyn&rsquo;s building at Ridgecrest Town Center in the city of Ridgecrest is under new ownership. The retail asset was acquired from China Lake 700, LLC by Newport Coast-headquartered investor El Rey Properties, LLC.","og_url":"https:\/\/www.commercialsearch.com\/news\/nai-capital-closes-sale-on-retail-asset-in-inland-empire\/","og_site_name":"Commercial Property Executive","article_publisher":"https:\/\/www.facebook.com\/CPExecutive","article_published_time":"2015-06-18T13:17:41+00:00","article_modified_time":"2022-12-02T15:40:11+00:00","og_image":[{"url":"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2015\/06\/NAI-Capital_logo.png","type":"","width":"","height":""}],"author":"Anca Gagiuc","twitter_card":"summary_large_image","twitter_creator":"@cpexecutive","twitter_site":"@cpexecutive","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.commercialsearch.com\/news\/nai-capital-closes-sale-on-retail-asset-in-inland-empire\/#article","isPartOf":{"@id":"https:\/\/www.commercialsearch.com\/news\/nai-capital-closes-sale-on-retail-asset-in-inland-empire\/"},"author":{"name":"Anca Gagiuc","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/340a1a5e8e7dd137bd91ca1dd3a2e9d7"},"headline":"NAI Capital Closes Sale on Retail Asset in Inland Empire","datePublished":"2015-06-18T13:17:41+00:00","dateModified":"2022-12-02T15:40:11+00:00","mainEntityOfPage":{"@id":"https:\/\/www.commercialsearch.com\/news\/nai-capital-closes-sale-on-retail-asset-in-inland-empire\/"},"wordCount":209,"image":{"@id":"https:\/\/www.commercialsearch.com\/news\/nai-capital-closes-sale-on-retail-asset-in-inland-empire\/#primaryimage"},"thumbnailUrl":"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2015\/06\/NAI-Capital_logo.png","articleSection":["Los Angeles","News"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.commercialsearch.com\/news\/nai-capital-closes-sale-on-retail-asset-in-inland-empire\/","url":"https:\/\/www.commercialsearch.com\/news\/nai-capital-closes-sale-on-retail-asset-in-inland-empire\/","name":"NAI Capital Closes Sale on Retail Asset in Inland Empire - Commercial Property Executive","isPartOf":{"@id":"https:\/\/www.commercialsearch.com\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.commercialsearch.com\/news\/nai-capital-closes-sale-on-retail-asset-in-inland-empire\/#primaryimage"},"image":{"@id":"https:\/\/www.commercialsearch.com\/news\/nai-capital-closes-sale-on-retail-asset-in-inland-empire\/#primaryimage"},"thumbnailUrl":"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2015\/06\/NAI-Capital_logo.png","datePublished":"2015-06-18T13:17:41+00:00","dateModified":"2022-12-02T15:40:11+00:00","author":{"@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/340a1a5e8e7dd137bd91ca1dd3a2e9d7"},"breadcrumb":{"@id":"https:\/\/www.commercialsearch.com\/news\/nai-capital-closes-sale-on-retail-asset-in-inland-empire\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.commercialsearch.com\/news\/nai-capital-closes-sale-on-retail-asset-in-inland-empire\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/nai-capital-closes-sale-on-retail-asset-in-inland-empire\/#primaryimage","url":"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2015\/06\/NAI-Capital_logo.png","contentUrl":"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2015\/06\/NAI-Capital_logo.png"},{"@type":"BreadcrumbList","@id":"https:\/\/www.commercialsearch.com\/news\/nai-capital-closes-sale-on-retail-asset-in-inland-empire\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.commercialsearch.com\/news\/"},{"@type":"ListItem","position":2,"name":"NAI Capital Closes Sale on Retail Asset in Inland Empire"}]},{"@type":"WebSite","@id":"https:\/\/www.commercialsearch.com\/news\/#website","url":"https:\/\/www.commercialsearch.com\/news\/","name":"Commercial Property Executive","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/340a1a5e8e7dd137bd91ca1dd3a2e9d7","name":"Anca Gagiuc","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/d3faafbc9e42cee6d04189129d2ee35dc7818b52bae9848e065f3b86af1df47e?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/d3faafbc9e42cee6d04189129d2ee35dc7818b52bae9848e065f3b86af1df47e?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/d3faafbc9e42cee6d04189129d2ee35dc7818b52bae9848e065f3b86af1df47e?s=96&d=mm&r=g","caption":"Anca Gagiuc"},"description":"Anca Gagiuc brings more than a decade of experience within the real estate industry. She is a senior associate editor with Commercial Property Executive and Multi-Housing News who also writes monthly multifamily reports at Yardi Matrix. Contact Anca at anca.gagiuc@cpe-mhn.com","url":"https:\/\/www.commercialsearch.com\/news\/author\/anca-gagiuc\/"}]}},"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004121488","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/users\/237"}],"replies":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/comments?post=1004121488"}],"version-history":[{"count":1,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004121488\/revisions"}],"predecessor-version":[{"id":1004531289,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004121488\/revisions\/1004531289"}],"wp:attachment":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media?parent=1004121488"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/categories?post=1004121488"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/tags?post=1004121488"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}