Stabilized Neighborhood Multi-Tenant Retail Investment Opportunity in High Barriers to Entry San Fernando Valley

Highlights:

• Excellent Regional Location - The Subject Property is immediately adjacent to several grocery and drugstore-anchored shopping centers, gas stations, financial service providers and dining options, which includes Trader Joe’s, Vons, Rite Aid, Smart & Final, Wells Fargo Bank, and Chase Bank.
• Highly Visible Hard Corner Location - The property is situated on the hard-signalized corner of Devonshire Street and Mason Avenue with traffic counts exceeding 49,500 cars per day. The center offers convenient ingress and egress to customers on both sides of the street along with signage along the corner of the building.
• Dense/Affluent San Fernando Valley Demographics - The Subject Property is ideally situated in the heart of a dense, infill trade area featuring over 17,300 residents and average household incomes exceeding $142,506 within a 1-mile radius and over 143,800 residents and average household incomes exceeding $152,876 within a 3-mile radius.
• Supply Constrained Market - The Subject Property is located at a high-profile corner in Chatsworth with many long-standing tenants in the vicinity. There is currently limited availability nearby, making the existing spaces highly desirable.

Description:

Stabilized Neighborhood Multi-Tenant Retail Investment Opportunity in High Barriers to Entry San Fernando Valley (Chatsworth)

Investment Grade Tenancy - The strip center is 100% occupied by Starbucks, BMO Harris Bank N.A., Western Bagel, and Confluent Health. BMO Harris Bank N.A. boasts over $74 million in deposits at the branch.

Long-Term Tenancy - Nearly 75% of the center has occupied the center for 7+ years. Both Starbucks and Western Bagel have occupied its current spaces since 1997. Starbucks recently executed a lease amendment extending their lease out until April 2035.

Excellent Passive Investment Opportunity - Most of the tenants are on NNN leases with significant amount of term remaining. This provides passive investors with a stabilized investment with a growing income stream. Additionally, majority of the leases allow for admin fee and management fee reimbursements.

Strong Real Estate Fundamentals - The Subject Property contains a well-balanced and synergistic mix of tenants in an approximately 9,000 sq. ft. building on over 30,300 sq. ft. of land. Confluent Health recently signed a lease and is making a significant investment into their build-out, demonstrating a strong long-term commitment to the site and creating potential opportunities for cost segregation (Please consult with your CPA).

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