Overview

Description

The Shops at Oak Creek is the most exciting new retail destination in the Conejo Valley. The center took over 5 years to entitle and construct due to the City's restrictive nature. Hence, there are no other parcels of this size, configuration, and visibility in the trade area that could provide an alternative for tenants. A survey of the trade area will reveal that the vacancy rate for Class A retail centers is less than 5%.

This property can be purchased as individual parcels:
East Side (Trader Joe's/Jinky's) Only: $15,000,000
West Side Only: $13,800,000

The Shops at Oak Creek is located in Agoura Hills, CA on Canwood Street, just off the Kanan Road exit on the 101 Freeway. The property sits adjacent to the 101 providing unobstructed views for the 175,000 cars passing by daily.

Geographically, Agoura Hills is located just west of the San Fernando Valley, in the Conejo Valley. Its neighboring cities, Calabasas to the east, Westlake Village to the west, Malibu to the south, and Oak Park to the north, are some of Los Angeles County’s most affluent areas. Agoura Hills boasts strong demographics of its own with an average annual household income of over $154,000 within a 5-mile radius. To serve this affluent consumer base, and drawing shoppers to the surrounding area, are other national retailers such as McDonald’s, CVS, Ralph’s, Bank of America, and many more.

Agoura Hills is known as an area with extremely high barriers to entry for both tenants and developers as there is a limited amount of retail space and the city is highly restrictive on new development. This site took nearly five years to entitle and develop.


The site’s frontage on the 101 Freeway provides a dominant position in the trade area, as well as unparalleled visibility and a competitive
advantage. Westbound vehicles can exit at Chesboro and head west on Canwood or they can exit on Kanan and head east on Canwood. Customers headed east on
the freeway can exit at Kanan. The City of Agoura recently completed a reconstruction of the Kanan Road interchange which facilitates easier and faster ingress and
egress.
PARKING - The Center offers convenient surface parking with the combined parking ratio of over 7 cars per 1,000 square feet of gross leasable area, exceeding the
City’s requirements. There is a total of 91 parking spaces on the east side of the shopping center and 170 spaces on the west side with Trader Joe’s. There is also a
reciprocal parking agreement with the adjacent hotel, thus additional parking is available.

Highlights

• INTERNET RESISTANT TENANCY
• The tenants at The Shops at Oak Creek benefit from being resistant to encroachment by internet retailers. You cannot go out to breakfast, lunch, dinner or have a cocktail online, nor can you get your manicure and pedicure via your laptop. You cannot work out at the gym online, nor can you buy the select goods that only Trader Joe's has to offer. This is truly an eclectic center with tenants that provide what the neighborhood residents want and need.
• HIGH VISIBILITY, IN AN UPSCALE NEIGHBORHOOD
• • This point of destination creates an experience for customers in Agoura Hills, one of the wealthiest communities in California.
• • High quality “Jewel Box” retail and restaurants are located just minutes from the new Avanti residential project, an exclusive residential community with an embedded density and customer base.
• • Extremely accessible and visible to the 175,000 cars that drive by this site per day.
• • Oak Creek is ideally located within minutes of Caruso Affiliated’s The Commons which is anchored by Edwards Grand Place Stadium Theater, Barnes and Nobel,
• and William Sonoma.
• • Proximity to both residential and commercial density keeps this Property busy throughout the day and week.
• PRESERVATION OF CAPITAL AND GROWTH
• • Strong Inflation Hedge – Scheduled rental increases plus the lease-up of vacant space produce excellent return increases, enhancing cash-on-cash returns, and providing a strong hedge against inflation in a tangible, dependable asset.

Documents

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