Simi Valley Crossing
1902 Hubbard St | Simi Valley, California | 93065
$7,100,000
ABOUT
Year Built: 1960
Type: Retail
Cap Rate: 5.75%
Bldg Size: 37,425 Sq Ft.
Lot Size: 93,052 Sq Ft.
ADDITIONAL INFORMATION
Low Rents/Cost Per Sq. Ft. & Month-to-Month Leases
Adjacent to Mountain Gate Plaza Shopping Center
Heavy Traffic Count Location: 37,700+ CPD
Close to 118 FWY On/Off Ramp On First St.
IREA is pleased to present the sale of Simi Valley Crossing Shopping Center. The property is a two piece shopping center in the heart of the Simi Valley retail corridor on E Los Angeles Avenue and Hubbard Street. Together, the properties enjoy tremendous visibility and are located in a dense residential suburb of Simi Valley. This marks the first time the properties have been on the market in over 20 years.
The gross aggregate rentable area is approximately 37,500 square feet, which consists of a combination of service related tenancy and restaurant operators. The current occupancy of the centers is approximately 96%. Most of the tenants have been at the property for over 10 years, thus creating a retail identity within the community.
The City of Simi Valley, with an estimated population of 126,414 (as of Dec. 2011) is the third largest of Ventura County’s ten cities. Occupying an area of approximately 42 square miles, it is located in Southeastern Ventura County, adjacent to the northwestern perimeter of the San Fernando Valley, approximately 37 miles northwest of downtown Los Angeles.