Investor buys Parklane

Sperry Van Ness, one of the nation's largest commercial real estate brokerage firms, has completed the sale of Parklane Retail Center, a 9,725-square-foot shopping center, to a Thousand Oaksbased investor for $3.7 million. The property is at 300 W. Los Angeles Ave. in Moorpark.

Nick Kim of Sperry Van Ness in Los Angeles represented the seller, a Los Angeles-based private investor. Alex Pavich of SVN Equities represented the buyer.

Built in 1987 and situated on 0.65 acres, the center was 75 percent occupied at the close of escrow and includes a liquor store, doughnut shop, Mexican restaurant and beauty salon.

Because a tenant who occupied 25 percent of the center chose to vacant its space, the seller gave the buyer one-year rent guarantee in order to close the transaction.