Palmdale, CA - Vitamin Shoppe Pad

Description:

SRS Investment Properties Group is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in a 100% occupied, three-tenant, America’s Best Contacts & Eyeglasses (NASDAQ: EYE), The Joint Chiropractic, and The Vitamin Shoppe (NASDAQ: FRG) investment opportunity located in Palmdale, California. The Joint Chiropractic recently exercised their option period early, extending their lease through 2032 and showing excellent long-term commitment to the location. The site has a weighted average lease term of approximately 3 years. All tenants operate under NNN leases, limiting expense leakage for a future investor. Vitamin Shoppe reports exceptional store sales - contact agent for details.

The subject property is strategically located near the signalized, hard-corner intersection of 10th St. W. and Technology Dr., averaging a combined 25,700 vehicles passing by daily. Additionally, the site profits from nearby direct on/off ramp access to State Highway 14 (82,500 VPD), a heavily-traveled commuter freeway traveling from north Los Angeles into Palmdale and the greater Antelope Valley Region. The asset is ideally located within Palmdale Marketplace, a 214,000 SF power center anchored by Target, Lowe’s Home Improvement, Sprouts, and more. The surrounding retail corridor also includes the Antelope Valley Mall (1,000,000 SF), and several national/credit tenants such as the Home Depot, T.J. Maxx, Walmart Supercenter, and more, promoting crossover store exposure to the site. Furthermore, the asset is located near the Palmdale Regional Medical Center (184 beds), as well as an Amazon Distribution Center and several aerospace facilities for major players such as Boeing, Lockheed Martin, Northrop Grumman, and the U.S. Air Force. The high concentration of employees in the trade area significantly increases consumer traffic to the site. The 5-mile trade area is supported by over 125,700 residents and 39,100 employees, and a hospitality cluster of 15+ hotels, providing a steady consumer base from which to draw. Residents within 1 mile of the subject property boast a healthy average household income of $118,286.