Albert's Mexican Food & VANS

Highlights:

• Established Tenancies – Long-Term Occupancy & Credit Stability
• Embedded Upside – Below-Market Rents & Near-Term Lease Rollover
• Ease of Management – Passive NNN Lease Structure
• Prime Los Angeles County Demographics
• High-Traffic Arterial Location | Pole & Monument Signage at Intersection
• Unparalleled Retail Synergy – Surrounded by Top-Ranked National Dining Brands

Description:

Faris Lee Investments is pleased to present the unique opportunity to acquire a fee simple interest (land and building) in a multi-tenant retail asset located along Imperial Highway in Norwalk, California (“the Property”). The Property is currently occupied by two well-established tenants, Vans and Albert’s Mexican Food, both with decades of operating history at this location. Vans operates under a corporate lease executed by VF Outdoor, LLC, the principal operating subsidiary of VF Corporation (NYSE: VFC), providing strong credit backing from a $9.5 billion global apparel company. Albert’s Mexican Food has been a local staple since 2009, generating consistent daily traffic and highlighting the strength of both the tenants and the site itself.
The Property offers significant embedded upside, as both tenants are currently on short-term leases with no remaining options. Albert’s Mexican Food is paying rent materially below market rates for comparable drive-thru QSR assets, creating immediate mark-to-market potential. The Vans lease presents additional value-add opportunities, allowing an investor to negotiate a long-term extension leveraging Vans’ 28-year operating history or recapture the space to re-tenant at market rates. This near-term lease rollover provides flexibility to enhance cash flow, increase weighted average lease term, and align the tenancies with an investor’s long-term objectives.
Structured as a Triple Net (NNN) asset, the Tenants are responsible for property taxes, insurance, common area maintenance (CAM), and HVAC, delivering a truly passive investment with minimal operational responsibilities. This structure, combined with the Property’s high-visibility location at the signalized intersection of Imperial Highway and Jersey Avenue and proximity to the on/off ramps for Interstates 5, 605, and 105, provides a highly attractive, low-management income stream. The Property also benefits from large pole and monument signage, ensuring unmatched tenant exposure to both local and commuter traffic.
The Property is strategically positioned in a dense, high-barrier-to-entry trade area of Los Angeles County, with over 223,000 residents, nearly 100,000 daytime employees, and an average household income exceeding $116,000 within a three-mile radius. Additionally, the asset is situated amidst significant area redevelopment, including over 600 new residential units planned or underway through the Keystone Lanes redevelopment, Primestor’s “The Walk” mixed-use district, and the Alondra Maidstone project, further enhancing consumer density and supporting long-term tenant demand in the immediate trade area.

Norwalk, California, is a resilient and strategically central community defined by its deep roots in the expansion of Southern California and its evolution into a vital residential and civic hub. Situated in the heart of the Gateway Cities region, approximately 17 miles southeast of Los Angeles, the area was originally part of the vast Rancho Los Nietos. Founded in the late 19th century by the Sproul brothers, the town’s name stems from the “North Walk” across the Coyote Creek, a key transit route of the era. While the region initially flourished as the “Heart of the Valleys”—dominated by expansive sugar beet farms and dairy operations that defined the local landscape for decades—the post-World War II era catalyzed a dramatic transformation. The construction of the Santa Ana Freeway (I-5) swept through the area, evolving Norwalk from a quiet agricultural outpost into a booming suburban enclave for the region’s growing aerospace and industrial workforce.
Today, Norwalk stands as the “Keystone City,” a nickname that reflects its pivotal role as a transportation and government nucleus within Los Angeles County. Bounded by four major freeways (I-5, I-605, I-105, and SR-91) and serving as a major Metrolink hub, the city offers unparalleled regional connectivity that anchors its local economy. The city’s professional landscape is distinguished by a massive civic presence, hosting the headquarters of the Los Angeles County Registrar-Recorder/County Clerk, alongside major educational institutions like Cerritos College. Significant urban reinvestment is currently reshaping the city through projects like “The Walk,” a mixed-use district at the Civic Center set to deliver hundreds of new residences and premium retail space. From the revitalization of the Front Street Historic District to the busy retail corridors of Imperial Highway, Norwalk provides residents and investors with a dynamic environment rooted in a legacy of connectivity and future-focused growth.

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