Sherman Oaks, CA - Burlington
$12,358,000
14651 Ventura Blvd, Los Angeles, CA 91403
5.5
Cap Rate
679,700
NOI
Details:
Description:
SRS National Net Lease is pleased to offer the generational opportunity to acquire the fee simple interest (land & building ownership) in a NN leased, corporated signed (NYSE: BURL), Burlington investment property located along historic Ventura Boulevard in Sherman Oaks, California (Los Angeles County). The tenant has 8 years remaining on their lease with 3 (5-year) options to extend, demonstrating their commitment to the site. The lease features a 5% rental increase in March 2029, as well as 7.5% increases at the beginning of each option period, growing NOI and hedging against inflation. The lease is NN leased with minimal landlord responsibilities making it an ideal, low-management investment opportunity for a passive investor. This offering represents a rare opportunity to acquire a credit single tenant, trophy asset within infill area characterized by extremely high barriers for new development.
The Burlington is located along Ventura Boulevard, a primary commuter thoroughfare averaging over 52,000 vehicles passing by daily. The property is positioned just south of U.S. Highway 101 (314,000 VPD), a major north/south travelling highway connecting Santa Barbara to Los Angeles. Additionally, the asset situated just east of Interstate 405 (282,000 VPD), a major north/south travelling highway which connects Los Angeles to Orange County. Furthermore, the site is located just southwest of Westfield Fashion Square, a premier luxury 868,000 square foot shopping destination that features national/credit tenants including Macy’s, Old Navy, Bath & Body Works, and H&M. The property is in the center of a primary retail corridor with other nearby national/credit tenants including Costco Wholesale, Target, Whole Foods, Michaels, CVS Pharmacy, and more, further increasing consumer traffic to the site. The 5-mile trade area is supported by a population of over 492,300 with an affluent average household income of $149,462.
Location
Gallery
