4929 - 4943 Paramount Blvd

Highlights:

• STRONG HISTORICAL OCCUPANCY / DAILY NEEDS TENANT LINE-UP
• SMALL LEASABLE UNITS / AMPLE PARKING AT 5.62 : 1,000 SF
• RECENT ROOF REPLACEMENT & CAPITAL IMPROVEMENTS
• REDUCED MANAGEMENT / NNN LEASES
• EXCELLENT STREET FRONTAGE & ACCESS / LARGE MONUMENT SIGNAGE (59,000 VPD)
• DENSE INFILL DEMOGRAPHICS/AVERAGE ANNUAL HOUSEHOLD INCOME OF $107,600 IN 1-MILE

Description:

Faris Lee Investments is pleased to bring to market a 9,325 square foot strip center with 100% frontage to well-traveled Paramount Boulevard. The offering features small leasable units ranging from 1,141 sq. ft. to 1,680 sq. ft. catering well to the needs of retail/service users. The property was constructed in 2004 and the majority of the tenants are original tenants demonstrating their strong performance and support from the community. With an abundant amount of parking (6.26 stalls:1,000 sq. ft.), Paramount Center provides an ease of shopping experience and caters well to parking intensive food users. Ownership has recently replaced the entire roof and updated the property to comply with ADA requirements.
Paramount Center is ideally located at the intersection of Paramount Blvd. and Del Amo Blvd. with exposure to over 59,000 VPD at the intersection. There are strong demographics within the immediate trade area. With AHHI and population within a 1-mile radius of $107,000 and 229,800 respectively, the tenants benefit from a unique trade area where both discretionary income and population are high. Given the strong demographics, retailers thrive in Lakewood, as immediate trade area tenants include Costco, Wal-Mart Supercenter, Target, Home Depot, Whole Foods, WinCo Foods, and Northgate Gonzalez to name a few.

Lakewood, located ten miles southeast of Los Angeles, emerged in 1950 as the nation’s first post-war planned housing development. Built on former farmland, it featured 17,500 homes on 3,500 acres, pioneering modern suburban planning with assembly-line construction, underground wiring, and a car-friendly shopping area. This innovative approach attracted many World War II veterans, who used G.I. Bill benefits to purchase homes, rapidly growing the community.
In 1954, Lakewood residents voted to incorporate, becoming the largest U.S. community to do so and the first new city in Los Angeles County since 1939. The unique Lakewood Plan allowed the city to maintain local governance while contracting with Los Angeles County for essential services. This model provided efficient, cost-effective service delivery and was later adopted by many other communities.
Currently, Lakewood is experiencing dynamic economic evolution, marked by strategic planning and initiatives aimed at fostering growth and sustainability. The city recently partnered with Sunstone Management to develop its first comprehensive economic development strategic plan, highlighting Lakewood’s commitment to promoting economic health and prosperity. Lakewood’s economic development efforts focus on retaining and expanding existing businesses in commercial areas such as Lakewood Towne Center, the International District, and the Pacific Highway Transit-Oriented Commercial area, ensuring the city remains a vibrant and attractive place for business and living.