GNC Properties, Western Prime Holdings Pay $24.5MM for Mayhew Plaza Shopping Center in Woodland Hills 

GNC Properties, Western Prime Holdings, Mayhew Plaza Shopping Center, Woodland Hills, Smart & Final, GTR Consulting Group, KW Commercial

Woodland Hills –– Joe Penich of Keller Williams Commercial (“KW Commercial”), announced that the firm has brokered the sale of the Mayhew Plaza Shopping Center, a Smart & Final Extra anchored neighborhood shopping center, located at 22631-22653 Ventura Blvd in the City of Woodland Hills for $24,500,000 .

The Seller, J Globo LLC, and SHWH LLC, was represented by GTR Consulting Group, Inc. Thomas Kim, and William Shin. The Buyer, comprised primarily of GNC Properties LLC, and Western Prime Holdings LLC, was represented by Joe Penich with KW Commercial.

Mayhew Plaza was built in 1962, and renovated in 1999. It sits on 3.02 acres of land with 39,867 square feet of improvements that is currently 96.23% occupied. It is a premier, Smart & Final Extra anchored, multi-tenant shopping center. The Plaza is located on the highly trafficked and distinguished Ventura Blvd, carrying over 38,451 cars per day in the City of Woodland Hills.

“Mayhew Plaza is an excellent Ventura Boulevard location. In this market, it is very hard to find a grocery anchored shopping center.  This was a true gem, at a 5.4% cap rate with a strong anchor tenant and The Habit, Jersey Mike’s, Domino’s as satellite tenants,” said Joe Penich, Managing Director, KW Commercial.

About Keller Williams Commercial (“KW Commercial”)

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