SIMI VALLEY, Calif. — Griffin Living has completed the disposition of Griffin Plaza, a shopping center located at 3885-3977 Cochran St. in Simi Valley. A private 1031 exchange investor acquired the asset for $22.1 million.
Built in 1981 and renovated in 2019, Griffin Plaza features 85,022 square feet of retail space and the 97,000-square-foot Varenita Assisted Living community. At the time of sale, the property was 94 percent occupied. Current tenants include Aldi, CVS/pharmacy, Wendy’s and Varenita.
Griffin developed Varenita, delivering the community about a year ago. The property features 75 assisted living units and 27 memory care units.
Gleb Lvovich, Daniel Tyner and Geoff Tranchina of JLL Retail Capital Markets represented the seller in the deal.
The post Griffin Living Sells Varenita Assisted Living as Part of Shopping Center Sale in Simi Valley, California appeared first on Seniors Housing Business.
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