Grubb & Ellis Co. negotiated the sale of Ladera Center, a 186,770-square-foot shopping center in Los Angeles.

The value of the transaction was $53 million.

Grand Ladera LLC, a Los Angeles-based investment group, purchased the property from San Francisco-based McFarlane Partners.

The retail center, which is located at 5233-5399 W. Centinela Ave., was 100 percent leased at the time of sale. The center is anchored by Ralphs, Sav-On and Ross Dress For Less. The property was originally constructed in 1965, and then redeveloped in 1985 and 2002.

Grubb & Ellis Co. is a full-service commercial real estate organization operating worldwide.

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