The Shops at Oak Creek Sells for $21.3 Million

The developer of The Shops at Oak Creek, Adler Realty Investments Inc., has sold the shopping center for $21.3 million, according to a report in the Ventura County Star.

The Woodland Hills-based developer said it sold the 36,182-square-foot, five-building center at 29001 Canwood St to Loja Real Estate in Walnut Creek, a wholly owned subsidiary of the Loja Group.

The Shops at Oak Creek tenants include Panda Express, The Habit, Jinky's Cafe, Ewing & Associates Sotheby's International Realty, Freebird World Burrito, Stone Ground Bakery, Urban Cafe, Verizon Go Wireless, Savvy Beauty and Salon, The Olive Vineyard and the development's anchor, .

This is Loja Real Estate's sixth acquisition of centers anchored by Trader Joe's stores, the Star reported.

Loja Real Estate said Agoura Hills has strong demographics and limited competition due to difficulties in developing here, the report said.