Creekside Plaza, Agoura Hills
- Address: 28720 Roadside Dr, Agoura Hills, CA
- Building Area: 68,951 SF
- Land Area: 108,450 SF
- Occupancy: 92%
- Year Built: 1987
- Sales prise – $12,000,000
- Prise/SF – $174,04
- Cap Rate – 3.39%
The seller decided tha while the property did have promise the risk profille on realizing that promise was too great. The sales price was above comparables for the area, so the Pacific Bridge Team adopted a marketing campaign that highlighted the changes in the area and the possibilities for adding significant value.
The buyer came through the extensive marketing by the Pacific Bridge Team. The property got a lot of interest, but the price and perccption were challenges that needed to be overcome. More because the propory had a track record of under-performance, the buyer had a difficult time obtaining the financing to make the deal work.
The Pacific Bridge Team worked wth the buyer to make sure he could market to his investors and lenders the hidden value the property. Through a diligent effort by all parties, the property was closed successfully.