Black Lion Bolsters Retail Portfolio with Acquisition in California

Written by Posted On Monday, 11 September 2023 11:56

One of the most prolific commercial real estate investment and development firms, Black Lion, led by Robert Rivani, has acquired a trophy retail shopping complex in Thousand Oaks, California. The company paid approximately $8 million for the shopping center that will be rebranded soon - a significant deal for a prime asset in one of California’s most vibrant neighborhoods. 

Centrally located at 692 N Moorpark Road and anchored by the only Whole Foods in Thousand Oaks, the plaza spans 23,958-square feet of space and sits at 55% occupancy with 11 storefronts. Rivani purchased the property with plans to improve the retail shopping center with a façade renovation, new roof and parking lot, to achieve full occupancy. Dan Tyner with JLL represented both sides of the transaction.

 “This is an incredible opportunity to breathe new life into a trophy asset and transform it into a magnetic neighborhood destination,” said Rivani. “We secured a deeply discounted price and will make strategic investments to bring in strong tenants that will enhance the neighborhood. We have already received a number of LOIs and plan to reach 100% occupancy within the next 6 months.”

  Since its inception, Black Lion has transacted in over $600 million in deals across the nation, gaining notoriety for transforming spaces and attracting world-class brands. The company has purchased, improved and resold retail shopping centers in California, Texas, Arizona, Georgia, Wisconsin, Florida, and New Jersey.

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