Avant Real Estate Acquires Santa Clarita Retail Center for $27.5 Million, Plans Renovation

Avant Real Estate, based in Glendale, California, has completed the acquisition of a 12.6-acre retail property in Santa Clarita for $27.5 million. The transaction, brokered by SRS Real Estate Partners, involved a 120,559-square-foot shopping center located at 23126-23170 Valencia Blvd. The asset, previously a Kmart-anchored center, was 80 percent leased at the time of sale.

The Los Angeles-based seller was represented by Carlos Lopez, Terrison Quinn, and Tony Vuona of SRS Capital Markets. Ed Matevosian of CBRE represented the buyer. Avant Real Estate's plans include a comprehensive renovation of the shopping center, aiming to upgrade the property's appearance and maintain its retail functionality. This acquisition highlights continued investor interest in value-add retail opportunities within the Southern California market, signaling potential for revitalized commercial spaces.