Space Investment Partners, a Southern California-based private real estate investment, development and management company, acquired Topanga Gateway, a 123,402-square-foot open-air grocery-anchored retail center in Woodland Hills, for $64 million. The seller was a private investor. Eastdil represented the buyer and the seller in the transaction.
“We love this center for its location, its affluent consumer base and proven sales,” said Ryan Gallagher, managing partner and co-founder of Space Investment Partners, in a statement. “Additionally, the seller did a great job repositioning the center, providing a pathway for escalating rents over time.”
The center is strategically located at the high-traffic intersection of Topanga Canyon Boulevard and Ventura Boulevard in Woodland Hills. Its location benefits from exceptional visibility, with drive-by traffic of more than 99,000 cars per day and immediate access to the 101 Freeway, which carries an additional 234,000 cars per day. The property was originally built in 1963 and renovated in 2024. It was 97% occupied at the time of acquisition with tenants that include Ralph’s, Container Store and Petco.
This acquisition follows Space Investment Partners’ $118.5-million acquisition earlier this year of Fullerton Metrocenter, a 395,703-square-foot dual-grocery-anchored center located at 1375 Harbor Blvd. in the city of Fullerton. Looking forward, Space Investment Partners is targeting $500 million to $1 billion in new retail acquisitions for 2026 with a focus on grocery-anchored centers located across the Southwestern U.S.
Information for this article was sourced from Space Investment Partners.