CASE STUDY

Plaza Del Valle

Panorama City, CA

Property Type

Value-add; Grocery-anchored

Size

250,000 SF

Occupancy at Acquisition

Y%

Major Tenants

El Super, Western Dental, IHOP, Denny’s

Year Built

1950

Date Acquired

1999

Date Remodeled

2003

Deal Notes

  • Bought below replacement cost
  • Add value through better management
  • Add value through under market rents at purchase
  • Excess property for additional construction

Awards

San Fernando Valley Business Journal for Best Redevelopment Project in 2015.

“ Plaza Del Valle had one national tenant when the center was first reopened, but the mix of current national name brands and local mom-and pop entrepreneurs is now a benefit to the tenants and, more importantly, to the local community.” —Western Real Estate Business