Neighborhood Retail Center Commands $10M
GlobeSt.com
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BAKERSFIELD, CA-Bear Valley Plaza LLC of San Clemente has purchased the 69,381-sf
Taft Hills Plaza neighborhood retail center from Wilson/Taft Investments LLC of
Bakersfield for $10.2 million, according to the Irvine-based REZA Investment Group Inc. The
deal was a 1031 exchange that illustrates the continued demand for grocery anchored and
stabilized retail assets in Southern California, according to Ramez Barsoum, a VP at Reza
Investment Group, who was the broker on the deal.
Built in 1985, the Taft Hills Plaza was 100% occupied at the time of the sale. The property
is at 1008-1074 and 1078-1092 W. Kern St.
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