Whittier, CA - City National Bank (Heritage Court)

Description:

SRS Capital Markets is pleased to offer the opportunity to acquire the fee simple interest in two freestanding buildings fully occupied by City National Bank, an investment-grade tenant rated AA- by S&P. The lease features a brand new 10-year NNN lease with rare 3% annual increases throughout the initial term and option periods, providing a stable income stream and hedging against inflation. City National Bank has the option to extend the lease for two additional 5-year periods, further demonstrating their commitment to the site.

Located near intersection of Whittier Blvd and Sorensen Ave, this prime Southern California retail opportunity is situated less than 1.5 miles southeast of Interstate 605, which experiences 257,000 vehicles per day, enhancing accessibility for both tenants and consumers. The property is an outparcel to The Groves, a brand new 146,300 SF shopping center anchored by Stater Bros. and EoS Fitness, and is located within a dense, infill trade area with high barriers to entry for new development. The immediate trade area is supported by nearly 441,468 residents and 175,357 employees, with an affluent average household income of $110,572. The property’s premier location within a strong retail corridor featuring national tenants such as The Home Depot, Burlington, T.J. Maxx, Ross Dress For Less, and Michaels, combined with its adjacency to The Groves Whittier master planned residential community, ensures strong tenant synergy and high consumer draw.