SOURCE: Loja Group LLC

Loja Group LLC

September 30, 2014 15:34 ET

Loja Acquires Vallarta Anchored Shopping Center Located in Oxnard, California

Located Northwest of Downtown Los Angeles, the Property Is Valued at $20 Million

WALNUT CREEK, CA--(Marketwired - Sep 30, 2014) - Tom Engberg, CEO of Loja Real Estate, announced the acquisition of Oxnard Vineyards, a newly developed Vallarta Supermarkets anchored community shopping center located in Oxnard, California. Loja Real Estate purchased the property from a private investment group for approximately $20 million. The transaction closed on September 12, 2014.

Oxnard Vineyards consists of approximately 102,711 square feet on 12 acres. In addition to Vallarta, the center includes Fallas Paredes as co-anchor, along with a Jack in the Box on a drive-thru pad. The center is currently 97.5% leased. Vallarta and Fallas opened earlier this year with shop tenants finishing their build-out with openings scheduled to occur before year-end. The property is located on Vineyard Avenue just north of Highway 101 in Oxnard, a community northwest of Los Angeles.

"We are very excited to add Oxnard Vineyards to the Loja portfolio. As a full service grocer with a focus on Latin foods, Vallarta represents a best-in-class growth opportunity for Loja, complementing our existing portfolio of specialty and general grocery anchored properties," stated Scott Kyman, Vice President of Acquisitions.

Loja continues to pursue quality single-tenant grocer acquisitions and grocery anchored centers throughout the United States. Loja currently has in excess of $150 million of additional properties under contract or in its active pipeline.

About Loja

Loja Group LLC is a real estate investment management firm with $220 million in assets under management. Through Loja Real Estate, LLC, a wholly-owned subsidiary, Loja acquires and manages commercial real estate assets throughout the United States. Additional information about Loja may be found at www.lojagroup.com.

Contact Information

  • Contact:
    Scott Kyman
    Vice President, Acquisitions
    Office: 925-935-4405, ext. 6
    skyman@lojagroup.com