Beta Agency, a premier California commercial real estate agency, has represented Academy Road, LLC in the sale of a 37,346-square-foot retail building in Newbury Park, California that is leased to LA Fitness. AHS Property, Inc. paid an undisclosed price for the building which is located at 3057 Grande Vista Drive in the Village at Newbury Park shopping Center. The building was listed for $15.02 million.
“This property represented a tremendous opportunity for an investor to acquire a single tenant asset in a high growth area of Southern California,” said Rizika, “The buyer was attracted to the new development, overall stability and demographics of the property.”
LA Fitness is located within the Village at Newbury Park shopping center, a 575,644-square-foot regional shopping center which was developed in 2018. The highly trafficked center is centrally located in Ventura County with convenient access to the US 101 Freeway. In addition to LA Fitness, the Village at Newbury Park is anchored by Target, Home Depot, Staples, Lowe’s and PetSmart.