Claremont, CA - Old School House Shopping Center

Description:

SRS Capital Markets is pleased to present the rare opportunity to acquire an irreplaceable, 99% leased community shopping center in the affluent community of Claremont, CA (Los Angeles MSA). Old School House Shopping Center is located at the signalized hard corner of W. Foothill Boulevard (Historic Route 66) and N. Indian Hill Boulevard — the strongest intersection along the primary retail corridor serving Claremont. The offering consists of a single 7.6-acre parcel (331,044 SF) improved with four buildings totaling 92,614 SF of rentable area, offered fee simple with land and building ownership. Anchor and major tenants within the center include Trader Joe’s, One Gen Gym, Buca di Beppo, PianoPiano Dueling Lounge, Elvira’s Finest Foods of Mexico, and PDS Dental. The center is 99% occupied with only 390 SF of vacancy across three small suites, producing $2,741,721 of occupied base rent at a blended $29.60/SF. Income is spread across more than 70 distinct tenancies in 77 suites, delivering a level of granular diversification that is exceptionally difficult to replicate in a single acquisition.

Old School House Shopping Center is well positioned at a signalized, hard corner intersection with combined traffic counts exceeding 35,400 VPD along W. Foothill Boulevard (23,700 VPD) and N. Indian Hill Boulevard (11,700 VPD), and benefits from five total points of ingress and egress across three separate frontages. Furthermore, the site sits less than one mile south of the Foothill Freeway/I-210 (181,000 VPD) and north of I-10 (278,000 VPD), making this an ideal, centralized location with easy commutes. The asset is ideally located within walking distance of the Claremont Colleges, one of the most prestigious consortiums of higher education in the country with approximately 8,500 students, as well as Claremont High School (2,400 students), El Roble Intermediate School (969 students), and Mountain View Elementary School, providing a direct consumer base from which to draw. Immediate residential density is reinforced by the 476-unit Claremont Collegiate Apartments and the 90-unit North Housing Complex directly across N. Indian Hill Boulevard, with the DoubleTree by Hilton Claremont adjacent to the west. The subject trade area is supported by more than 141,000 residents within three miles and 349,000 within five miles, who boast affluent average household incomes of more than $176,900 within one mile and $136,000 within three miles, alongside 117,914 daytime employees within a five-mile radius. Restrictive SP (Specific Plan) zoning and Claremont’s highly regulated entitlement environment make new competitive retail development functionally infeasible, protecting the asset’s irreplaceable infill position.

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Listing ID: a28TP000003DFynYAG