Overview

Highlights

• Recently Extended Lease with 99 Cents Only Stores | 99 Cents Only Stores extended their lease for fifteen (15) years showing a long term commitment to the location.
• Attractive In-Place Rents | 99 Cents Only Stores is only paying $12.50 PSF annually - below comparable box space rents in the submarket. There are attractive 12% rent increases every 5 years.
• Strong Intrinsic Value and Recent Capital Improvements | The offering is priced below replacement cost ($240 PSF improvements) on over 2 acres of land. New monument signage, parking lot and new co-tenancy anchors of Grocery Outlet and O’Reilly Autoparts improves visibility and synergy within the center
• Highly Trafficked Intersection Adjacent to Freeway | The Chino Hills Parkway and Pipeline Avenue intersection boasts traffic counts over 50,000 CPD. The shopping center is situated just off the 71 Freeway Chino Parkway on/off ramp.
• Low Management Two Tenant Investment with Established Tenants | Both 99 Cents Only Stores and Party House Liquor have occupied their respective units for decades and operate on triple-net leases.
• Strong Retail Trade Area | The subject property is in a great sub-market which is surrounded with national retailers, restaurants, and other services driving significant traffic to the location.
• Stabilized Income with Value Add Potential | The Party House Liquor lease expires in ±1.5 years with existing rents below market. Additionally, the large parking lot parcel has potential for pad or charging station development.
• Affluent/Dense Southern California Demographics | The subject property is ideally situated in the heart of a dense, infill trade area featuring over 13,732 residents and average household incomes exceeding $125,564 within a one (1) mile radius.

Documents

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