Rhino Investments Group has acquired Pleasant Valley Plaza, a grocery-anchored neighborhood shopping center in Oxnard, California, expanding its portfolio of necessity-based retail assets.
Pleasant Valley Plaza spans about 81,128 square feet on roughly 7.93 acres at the intersection of Pleasant Valley Road and Saviers Road, a corridor the company said sees approximately 38,000 vehicles per day. The center is about 95% leased and anchored by La Plaza Meat Market, a regional Hispanic grocer with 10 locations, which signed a new 10-year lease beginning in 2025.
Rhino highlighted the property’s tenant stability, noting that roughly 70% of shop tenants have been in place since at least 2018. The firm also pointed to embedded upside through future development potential, with entitlements for up to three single-tenant outparcels, along with a site layout that supports a relatively high parking ratio. Rhino said it acquired the center at a price below the estimated replacement cost and plans to pursue leasing and development initiatives to enhance cash flow and community utility.
KEY QUOTE:
“This acquisition aligns directly with our strategy of investing in necessity-based, grocery-anchored retail centers with strong tenancy, embedded growth, and long-term relevance within their communities. Pleasant Valley Plaza combines stable current income with multiple avenues for future upside in a high-barrier Southern California coastal market.”
Sanjiv Chopra, CEO, Rhino Investments Group
