Available For Sale - Retail

25,998 SF | Show Pricing $

AVAILABILITY DETAILS

Size
25,998 SF
Price/SF
Show Pricing $
Listing ID
SA447006
Notes
Cap Rate 5.75%

Building Size 25,998 sqft

Lot Area 87,550 sqft

Year Built/Renovated 1958/ 1985/ 2013

Zoning LAC2

Parking Spots 114



HIGHLIGHTS

Ideal 1031-Exchange Net-Lease Investment with Corporate Guarantee

Highly Strategic and Desirable Real Estate Location in Southern California



DESCRIPTION

CBRE is pleased to exclusively offer for sale a rare, 2+ acre free standing netlease investment in the heart of the South Bay area in the City of Los Angeles. The offering consists of a freestanding ±26,000 square feet building leased to Savers, the leading for-profit global thrift retailer with more than 300 store locations. Savers has approximately 3 years remaining on its original 10-year corporate guaranteed lease with approximately 10% rental increases in each of the next two 5-year option periods.



Savers is conveniently located at the northwest corner of Lomita Boulevard and Western Avenue – two of the most heavily traveled arteries in the South Bay with traffic counts exceeding 65,000 CPD at the intersection. The property boasts strong demographics, with over 233,000 people with an average household income exceeding $100,000 in a 3-mile radius. These ideal demographics create an extremely desirable submarket for a myriad of uses.



Savers offers investors an ideal 1031-exchange or passive investment. With the tenant responsible for most expenses and maintenance under the NN lease, the investment requires little management responsibility. A new roof and HVAC units were installed in 2013 in addition to several other tenant improvements, limiting required landlord capital expenditures in the near term. With the existing rents at just $19 per square feet and a cap rate of 5.75%, an investor can achieve an above market return with a continuation of the existing lease or achieve potential upside through re-tenanting in the event the tenant does not renew.
Uses
Retail

This information has been obtained from sources believed reliable. We have not verified it and make no guarantee, warranty or representation about it. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for you needs.

Listing provided courtesy of
Alexander Kozakov, CBRE