CBM1 Co-Principal Rick Rivera represented the seller in the recent sale of a strip center at 3450-3460 Saviers Road in Oxnard. The property traded for $2,970,000.
Situated on Saviers Road, just south of Bryce Canyon Avenue, the site features an approximately 7,300 SF retail building on a half-acre lot. Prior to the sale, Mr. Rivera brought the center to 100% occupancy, negotiating leases with Little Caesars (occupying two spaces), a mini market, laundromat, and nail salon.
Ideally located amid the area’s primary commercial district, the property is directly across from a Ralphs grocery store. Other notable nearby retailers include Walmart + dd Discounts, anchoring Centerpoint Mall, and El Super grocery store, anchoring an adjacent community center.
“With the client’s support, we executed our pre-sale strategy to perfection, leasing up the center to 100% occupancy, installing ideally suited tenants, and securing solid lease terms,” CBM1’s Rick Rivera says. As a result, “The seller was rewarded with a low cap rate, a higher-than-expected sale price, and a smooth, speedy transaction,” Rivera also notes, adding: “Ultimately, we connected with the right buyer, creating a win-win situation for all parties.”
For more information on this transaction or CBM1 brokerage services, contact Rick Rivera at 310.231.5201 | RickR@cbm1.com.
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