Space Investment Partners, a Southern California-based private real estate investment, development and management company, has acquired Topanga Gateway, a 123,402-square-foot open-air grocery-anchored retail center located at 21909 Ventura Blvd. in Woodland Hills. The lifestyle center was purchased for $64 million from a private investor. Eastdil Secured represented both buyer and seller.
The center is located at the high-traffic intersection of Topanga Canyon Boulevard and Ventura Boulevard in Woodland Hills. Its location benefits from 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.
“We love this center for its location, its affluent consumer base, and proven sales,” said Ryan Gallagher, Space Investment managing partner and co-founder. “Additionally, the seller did a great job repositioning the center, providing a pathway for escalating rents over time.”
Topanga Gateway was built in 1963 and renovated in 2024. The 97% occupied center’s largest tenants include Ralphs, Container Store, and Petco.
