SOURCE: Loja Group LLC

Loja Group LLC

April 05, 2012 12:31 ET

Loja Real Estate Acquires Grocery-Anchored Property in Agoura Hills, CA

WALNUT CREEK, CA--(Marketwire - Apr 5, 2012) - Tom Engberg, CEO of Loja Real Estate, LLC, today announced the acquisition of a grocery-anchored shopping center known as Shops at Oak Creek for one of the Firm's separate accounts. Loja Real Estate, LLC, is a wholly-owned subsidiary of Loja Group LLC, a real estate investment management firm.

Loja Real Estate purchased the property from multiple owners for approximately $21.75 million. The transactions closed on March 28th and April 4th, 2012, respectively. This is Loja Real Estate's sixth acquisition and second in 2012 anchored by Trader Joe's.

The property is a 36,182 sq. ft. multi-tenant shopping center, developed in 2010, on 5.45 acres of land located in Agoura Hills, California. Trader Joe's anchors the shopping center which includes three multi-tenant shops buildings and one restaurant pad. Trader Joe's is a privately-held grocery store chain, headquartered in Monrovia, CA, operating 361 stores around the United States with annual sales reportedly in excess of $8.5 billion.

"This is an exciting acquisition for Loja Real Estate and its investors due to the accomplishment of consolidating multiple properties in an off-market transaction with Trader Joe's as the anchor. The shopping center has quickly become a favorite gathering place for the local residents since its opening in 2010. Agoura Hills is a community with strong demographics and limited competition due to a difficult entitlement environment," stated Scott Kyman, Vice President of Acquisitions at Loja Real Estate.

The selling entities were represented by Matthew May of May Realty Advisors. Loja Group has retained Colliers International to manage the property.

About Colliers International
Colliers International is the third-largest commercial real estate services company in the world with 12,500 professionals operating out of more than 500 offices in 61 countries. A subsidiary of FirstService Corporation, Colliers International focuses on accelerating success for its clients by seamlessly providing a full range of services to real estate users, owners, and investors worldwide, including global corporate solutions, brokerage, property and asset management, hotel investment sales and consulting, valuation, consulting and appraisal services, and mortgage banking and research.

About May Realty Advisors
With over two decades of retail brokerage expertise, May Realty Advisors is recognized as one of Southern California's leading boutique retail advisement firms based upon their success as innovators in commercial real estate marketing, retailer relationships and the ability to source and close complex retail sale transactions. Matthew May, founder of May Realty Advisors is a founding member of the Retail Brokers Network in 1992. Retail Brokers Network is an invitation-only network of retail brokerage companies throughout the United States and Canada with over 55 members and 65 offices. The combination of the two organizations provides our clients with unique access to retailers, investors and investment opportunities. To learn more about May Realty Advisors please visit www.mra.la.

About Loja Group LLC/Loja Real Estate, LLC
Loja Group LLC is a women-owned (WBE) real estate investment management firm with $188 million in assets under management. Through Loja Real Estate, LLC, a wholly-owned subsidiary, Loja acquires and manages grocery-anchored real estate assets throughout the United States for a variety of joint ventures, separate accounts, and commingled funds. 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