Major Calabasas Retail Center Sold for $50 Million

The Courtyard at the Commons retail center in Calabasas was bought by a global asset management firm for $50 million, according to a press release issued by Retail Development Advisors Corp.

The property is located at 23631 Calabasas Rd. across the street from the Commons at Calabasas and was sold by a public employee pension fund, according to the release.

Courtyard at the Commons is an 87,000 square-foot retail center that sits on approximately 6.76 acres of land. The major tenants include: Babies"R"Us, Wells Fargo, Chase, Bank of America, Riviera Wine Bar & Bistro, and Sotheby’s.