Stockdale Capital Partners, a Los Angeles-based real estate investment firm, has officially announced its acquisition of The Oaks shopping center in Thousand Oaks for a purchase price of $157 million. The deal marks a significant addition to Stockdale Capital Partners’ growing portfolio and signals a new chapter for the prominent Ventura County retail destination.
The 85-acre shopping center, located at 350 W. Hillcrest Drive, was sold by The Macerich Co., a real estate investment trust based in Santa Monica. Public records from the Ventura County Clerk-Recorder’s Office indicate the transfer tax for the transaction was $172,700, confirming the previously reported $157 million sale price. The grant deed was officially recorded on Wednesday, solidifying Stockdale Capital Partners’ ownership.
In a press release following the acquisition, Stockdale Capital Partners outlined its vision for The Oaks mall, emphasizing plans for modernization and enhancement. The firm intends to invest in upgrading common areas within the shopping center and introduce a variety of event programming to draw in visitors. Furthermore, Stockdale Capital Partners aims to diversify the tenant mix, expanding both dining and entertainment options to create a more dynamic and engaging experience for shoppers. This strategic approach suggests Stockdale Capital Partners is committed to revitalizing The Oaks and adapting it to the evolving retail landscape.
The Oaks mall, a long-standing fixture in Thousand Oaks since its construction in 1978, encompasses approximately 1.2 million square feet. A significant renovation in 2008 added an outdoor shopping section, enhancing its appeal. Currently, The Oaks boasts a strong lineup of anchor tenants, including major retailers such as Macy’s, JCPenney, Nordstrom, Dick’s Sporting Goods, and AMC Theatres, providing a solid foundation for Stockdale Capital Partners to build upon. Prior to the sale, Macerich Co.’s financial report for September indicated an outstanding debt of $148 million on The Oaks property.
Adding a personal dimension to the acquisition, Jeff Bhathal, Managing Director of Retail Leasing at Stockdale Capital Partners, and a longtime resident of Thousand Oaks, shared his enthusiasm for the project. “The Oaks holds a special place in my heart,” Bhathal stated, reflecting on personal memories associated with the mall. He expressed his excitement about the opportunity to introduce innovative concepts to this well-known shopping destination, underscoring Stockdale Capital Partners’ commitment to the local community and the future success of The Oaks mall under their ownership. This local insight, combined with Stockdale Capital Partners’ investment strategy, positions the firm to potentially create significant value at The Oaks for both shoppers and the surrounding Thousand Oaks community.
