Wall Street Plaza

Highlights:

• EXCELLENT IN-PLACE INCOME WITH APPRECIATION POTENTIAL - Offered at ±97% occupancy and a net operating income of $900,779 in year 1 of ownership, the investment offers excellent immediate cash flow potential plus the ability to raise rents and convert gross leases to NNN.
• IDEAL PROPERTY LAYOUT AND UNIT SIZE - Consisting of units between 350-5,684 sq. ft. each, Wall Street Plaza offers a range of unit layouts that helps maximize rent collections. With ample parking, service elevator, and strong signage, the plaza caters to a wide range of users.
• PRICED BELOW REPLACEMENT COST - Offered at just $304/sq. ft. of GLA, the property is priced well below the all-inclusive cost of building a similar 46,770 sq. ft. mixed-use building plus a 39,757 sq. ft. parking structure. There is potential to monetize parking fees.
• EXCELLENT TENANT MIX - Consisting of daily needs, restaurant, medical, financial services, beauty, fashion, daily needs, and financial services, the tenancy appeals to a wide-range of consumer demands of residents and businesses.
• DELIVERED FREE AND CLEAR OF DEBT - Investors have the ability to buy the investment all-cash or obtain financing at today’s attractive rates.
• STRONG INFLATION HEDGE - The existing leases contain strong rental increases during initial lease term and option periods, which allows for income growth. With average rents of just $2.52/sf/month, several leases are below average San Fernando Valley asking rents of $3.06/sf/month, leaving opportunity. to increase value as leases turn over.
• ESTABLISHED TENANCY - Multiple tenants have occupied their respective units five (5) to over ten (10) years and have heavily invested into their tenant improvements.

Description:

HIGHLY STRATEGIC AND DESIRABLE REAL ESTATE LOCATION WITH PARKING IN THE SAN FERNANDO VALLEY OF LOS ANGELES

TWO (2) LARGE PARCELS WITH DEDICATED PARKING STRUCTURE
Wall Street Plaza benefits from 23 surface parking spaces fronting the shopping center along Ventura Boulevard. Additionally, there is a dedicated parking structure adjacent to the site that offers 188 more spaces – providing excellent parking and allowing a wide range of tenant uses.

PROXIMITY TO PROVIDENCE CEDARS-SINAI MEDICAL CENTER
Wall Street Plaza is one (1) block west of the newly updated Providence Cedars-Sinai Tarzana Medical Center, which boasts 249 licensed beds and over 1,455 full-time employees. Providence-Cedars is the main hospital catering to the West San Fernando population and recently completed a several hundred million dollar renovation.

PRIME VENTURA BOULEVARD ASSET
Wall Street Plaza is an attractive office/retail property with excellent frontage and signage along the heavily vehicular and pedestrian traveled Boulevard.

EXCELLENT HISTORICAL OCCUPANCY
During ownership’s hold period, Wall Street Plaza regularly maintained occupancy over 90%.

CORNER LOT LOCATION
Situated at the northeast corner of Yolanda Avenue and Ventura Boulevard, the property benefits from both east & westbound access from Ventura Boulevard.

PREMIER RETAIL & OFFICE LOCATION
Wall Street Plaza is across the street from the Village Walk project, which boasts national tenants including Trader Joe’s, T.J. Maxx, Exer Urgent Care, Starbucks, Chipotle, and more.

VALUE ADD OPPORTUNITY
Most tenants are operating on a gross lease basis and not reimbursing full CAM as allowed under the leases. Investors can monetize NNN implementation and potential parking income.

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