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Trion sells SoCal center for $9.8 million


Trion Properties, which is in the business of acquiring and turning around distressed properties, has sold its Valencia Town Center Plaza outside of Los Angeles for $9.8 million.

The 21,186-sq.-ft. Santa Clarita center was less than 50% leased when Trion acquired it for $6.8 million in 2013, according to Managing Partner Max Sharkansky, and now is near full occupancy. He said the center “presented an opportunity for us to increase net operating income through aggressive leasing and cosmetic upgrades.

The location of the property in the heart of Valencia’s business and retail district, Sharkansky said, helped it draw a premium price from the buyer, a private real estate investor.

The center is not far from Westfield’s Valencia Town Center mall.

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