Atrium Design Center

Highlights:

• Fully Renovated/Remodeled Asset-High End Construction
• Best-In-Class Finishes and Amenities
• Offers A High Depreciation Potential
• Multi-Tenant Net Lease Investment
• Ground Floor Retail Center + 2nd & 3rd Floor Atrium Design Center
• 51,000 VPD Signalized Intersection

Description:

FULLY RENOVATED/NEWLY CONSTRUCTED BUILDING & STATE OF THE ART DESIGN/CONSTRUCTION
Originally built as “Eagle Plaza” in 1987, the property has undergone a complete transformation over the past five (5) years. The original structure was demolished and newly constructed as Atrium Design Center which was fully completed in 2022.
Atrium Design Center was designed with the vision of being a one-stop shop for all home improvement needs. The asset was developed by South Bay Design Center ownership which has owned / operated a showroom at the property for 28+ years.
The asset features extremely high-quality construction, state-of-the art design, high end finishes, and best-in-class amenities (see property features section for additional detail).
The high quality construction and best-in-class amenities offers an investor a tremendous depreciation opportunity.

TENURED GROUND FLOOR RETAILERS + SYNERGISTIC HOME IMPROVEMENT FOCUSED TENANT MIX
The ground floor is comprised of five (5) tenured retail tenants. The ground floor retail is a synergistic mix of food and service tenants which drive customer visits to the center.
The upper floors of the center are designed to be a one-stop shop for all home improvement needs. The upper floors are anchored by WDC Kitchen & Bath and South Bay Design Center, both of which are well-known home improvement retailers in the South Bay community.

HIGHLY VISIBLE PACIFIC COA S T HIGHWAY LOC ATION (BRANDING OPPORTUNITY)
With an intersection traffic count of over ±51,000 VPD the property’s monument signage and LED billboards are highly visible to over 18.6 M vehicles per year. The property is not only an outstanding retail real estate location, but also a remarkable branding/marketing opportunity on Pacific Coast Highway, one of Southern California’s most highly traveled routes.

SOLID UNDERLYING REAL ESTATE FUNDAMENTALS
The property possesses strong underlying real estate fundamentals including:
• High Visibility with ±140 of Frontage on Pacific Coast Highway and ±214 Feet on Pennsylvania Avenue.
• Significant Traffic Count with exposure to ±51,000 vehicles per day (Pacific Coast Highway)
• Convenient Access via ingress/egress driveways to the surface parking lot from both Pacific Coast Highway and Pennsylvania Avenue and parking structure access from Pennsylvania Ave.
• Prominent Signage via large monument on Pacific Coast Highway, storefronts, and large LED displays facing Pacific Coast Highway

DESIRABLE SOUTH BAY TRADE AREA DEMOGRAPHICS
The property is surrounding by the highly affluent neighborhoods of Palos Verdes, Redondo Beach, Rolling Hills Estates, and Torrance.
The surrounding trade area possess extremely high average household incomes, household values, and levels of disposable income.
The average annual household expenditure for household furnishings and equipment within a three-mile radius of the site is $3,930 which is significantly above the U.S. average.
The Population within a three-mile radius of the site is ±169,310.
Average Household Income within a three-mile radius of the site is ±$148,942.
There are ±36,620 owner-occupied housing units within a three-mile radius of the site.

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