Clovis Commons shopping center sold for $45M

The Clovis Commons Shopping Center was recently sold to a private company based out of Southern California for $45 million. DANIEL LEON/CLOVIS ROUNDUP

Clovis Commons, the 326,608-square-foot community shopping center at Herndon and Willow avenues, is under new ownership.

The transaction was made official in mid-October when Brixmor Property Group sold the retail center to an affiliate of a private Southern California-based investment and management company for $45 million.

Lucescu Realty, a brokerage company based out of Newport Beach, represented the interests of Brixmor and procured the buyer.

Clovis Commons is anchored by Target, Best Buy, T.J. Maxx, PetSmart, Office Depot and Dollar Tree. The 145,653-square-foot Target was not a part of the sale. Altogether, the five anchor tenants occupy approximately 64 percent of the gross leasable area in the center.

The tenant roster also includes Round Table Pizza, Farmer Boys, Massage Envy, Sequoia Sandwich Company, El Pollo Loco, Chronic Tacos, Verizon Wireless, Starbucks, Subway, GameStop, Kumon, Menchie’s, Cost Cutters and GNC.

“It’s an institutional-quality center; one of the most dominant and successful centers within the entire metropolitan statistical area with a blue chip tenant roster, an infill location, and high barriers of entry” said Mark Lucescu, president of Lucescu Realty. “Brixmor did a great job of owning, managing and leasing the center and the buyer should continue that success.”