CBRE Announces the Sale of Fully Leased Wayman Court Shopping Center in Newhall for $10.15 Million

CBRE announced the sale of Wayman Court Shopping Center, a 31,653-square-foot shopping center at 23120 & 23130 Lyons Avenue in Newhall, California, to Dar Properties of Santa Clarita, LLC for $10.15 million.

CBRE’s Alex Kozakov, Patrick Wade, Matthew Greenberg and Jack Webber represented both the seller, Strauss Investments, and the buyer, Dar Properties of Santa Clarita, LLC, in the transaction. Strauss Investments is a leading private real estate investment, development and operating firm, headquartered in greater San Diego.

Dar Properties will add the property to their retail portfolio in the Santa Clarita Valley.

“Wayman Court has been a strong performer in our portfolio, and this sale reflects both the strength of the asset and the ongoing demand for well-located, service-oriented retail centers,” said Will Strauss of Strauss Investments. “This disposition reflects our continued strategy of reinvesting capital and positioning for further growth opportunities in Southern California. We’re pleased to have executed a successful transaction that delivers long-term value for both parties.”

Wayman Court Shopping Center is located along Lyons Avenue, Santa Clarita’s primary retail corridor. The property is 100% leased to 17 tenants, featuring a diverse tenant mix including restaurant, medical and service tenants.

Webber added, “Investor and lender interest for neighborhood shopping centers continues to strengthen due to attractive occupancy levels and stable rental income that supports consistent asset performance.”

“This is a fully stabilized retail center in a high-demand submarket that continues to attract both tenants and investors. The property delivers strong, consistent income with future upside through rent growth and tenant rollover,” said Kozakov.

According to CBRE Research, the Santa Clarita Valley remains one of the most resilient retail markets in Greater Los Angeles, with low availability rates and steady leasing activity.