News release
The shopping center at Bouquet Junction that was long anchored by a Kmart store has been sold for $27.5 million.
SRS Real Estate Partners announced in a news release that it has completed the $27.5 million sale of the value-add retail property located on 12.6 acres at 23126-23170 Valencia Boulevard in Santa Clarita.
Currently 80% occupied, the shopping center totals 120,559 square feet.
SRS Capital Markets Executive Vice President Carlos Lopez, Executive Vice President and Managing Principal Terrison Quinn and Vice President Tony Vuona represented the seller, a Los Angeles-based investor. The buyer, Glendale-based Avant Real Estate Inc., was represented by Ed Matevosian of CBRE.
The new ownership plans to fully renovate and beautify the shopping center, maintaining its retail use while upgrading the property and enhancing its overall appearance, the release said.
“SRS generated 11 offers from a diverse mix of retail, tenant and residential developers,” Lopez said in the release. “The strong response speaks to the property’s excellent location and the development community’s desire to capitalize on a unique ‘blank canvas’ opportunity. For years, numerous retail and residential developers, as well as the city of Santa Clarita, had identified the property as a prime candidate for redevelopment.”
The property occupies one of the most visible and highest‑traffic intersections in northern Los Angeles County. Positioned at the signalized hard corner of Valencia Boulevard and Bouquet Canyon Road, traffic counts exceed 100,000 vehicles per day and the location provides direct access to Magic Mountain Parkway and Interstate 5.
“The property is surrounded by one of Southern California’s strongest suburban retail and employment corridors,” the release said, “Valencia Town Center, a 1.1 million‑square-foot regional mall with more than 170 stores and 4.3 million annual visitors. The area is also supported by nearby centers including Trader Joe’s, Whole Foods, Target, Best Buy, and multiple luxury auto dealerships.”
The release described Santa Clarita as one of the fastest-growing and most desirable suburban communities in Southern California, viewed as a more affordable and livable alternative to core Los Angeles. The city’s 2025 population exceeded 229,000 residents, with average household income surpassing $148,000, and major employers including Princess Cruises, Boston Scientific, Advanced Bionics and Six Flags Magic Mountain.
