$12.5M retail asset sold in California

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Marcus & Millichap arranged the sale of the 12-acre Sinaloa Plaza in Simi Valley, Calif. The value of the transaction was $12.5 million. The Sinaloa Plaza is located at 540-690 West Los Angeles Ave., with a total gross square footage of approximately 60,139 square feet. At the time of sale, the property was anchored by Vons and other tenants such as Goodwill, Frazee Paint, Denny's, Washington Mutual, County of Ventura, Subway, H&R Block, Fantastic Sams and Postal Annex. An unidentified California-based private investor sold the property to an unidentified investment group. Encino, Calif.-based Marcus & Millichap is a commercial real estate brokerage operating nationwide. *** What's your opinion? Send your Letter to the Editor to opinion@inman.com....