Investec Expands South Coast Retail HoldingsBy Kenny Slaught

Investec Real Estate Companies recently expanded its portfolio of retail properties in the South Coast region of California with the purchase of the Village at Newbury Park.

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Location and ExpansionLocated at 1015-1025 Broadbeck Drive in Thousand Oaks, the development spans over 23,000 square feet.

Built in 2001, the development is part of a larger power center.

An adjacent expansion will soon add approximately 170,000 square feet of new big box development, bringing a Lowe’s and an LA Fitness to the area.

Listed for $14.5 million, the Village at Newbury Park, which is almost at full occupancy, comprises mainly restaurants.

Image Source: http://www.loopnet.com/Listing/19087397/1015-1025-Broadbeck-Drive-Newbury-Park-CA/

The TenantsMajor leaseholders include MOD Pizza and The Habit Burger Grill, both of which pay annual rent exceeding $100,000.

Other primary tenants include Jamba Juice, which pays over $68,000 for its 1,600-square-foot space.

Adjacent Shopping CenterIn addition, Investec has an ownership interest in the shopping center adjacent to the Village, which features the Home Depot and Target.

The firm’s other local holdings include Camarillo Town Center and Central Plaza Shopping Center.