Savills Studley corporate managing director Kyle Miller (snapped with daughter Gianna) repped Decron in the deal, and says it came down to simply timing the market, with Decron able to get a strong ROI. The 370k SF retail portfolio was purchased by ROIC and came about after only one of the properties was on the market: The Mission Foothill Plaza (below) in Mission Viejo.
In addition to Mission, Park Oaks in Thousand Oaks and Ontario Plaza in Ontario were part of the deal. All three are grocery- and drugstore-anchored assets. Kyle shared the listing with Savills EVP Bill Bauman, who says the investors are eager to find buys like the Decron portfolio, but there is a genuine lack of availability in the market.
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