44500 VLY CENTRAL WY LANSTER Lancaster CA 93536

Valley Central Shoppes is a dominant regional retail investment opportunity located in the established suburban Los Angeles Antelope Valley community of Lancaster, CA. Encompassing approximately 178,802 SF of retail space, Valley Central Shoppes is one of the area’s premier community centers. The property is positioned on California Highway 14, with approximately 2,260 feet of linear frontage and prominent monument signage along the freeway.

Situated adjacent to a high-performing Walmart Supercenter, the property features best-in-class national anchor tenants Marshalls, ULTA, Five Below, Planet Fitness, and Staples. Additional national and regional tenants within the collateral include Chuck E Cheese, Sola Salons, Sport Clips, America’s Tire Company, Leslie’s Pool Supplies, LensCrafters, Bath & Body Works, Starbucks, Jersey Mike’s Subs, and Sally Beauty Supply

Walmart-Adjacent Regional Retail Destination
The subject property is positioned within Valley Central Shopping Center, which features a high-performing Walmart Supercenter that drives significant consumer traffic. Per Placer.ai, the subject property’s Walmart location received approximately 3.1 million visitors over the trailing 12-month period. This location ranks 2nd out of 14 Walmart locations within a 30-mile radius and is in the 95th percentile company-wide in customer visits within the Walmart chain.

Strong NOI Growth Profile
Through embedded rental increases and lease-up of the vacant suite, the property NOI is forecasted to grow at a Compound Annual Growth Rate (CAGR) of approximately 4% over a 10-year period.

“Best-in-Class” Included Anchors
Anchors include Marshalls (“A” S&P Rating), ULTA ($11.2 Billion FY2024 Revenue), Five Below ($3.88 Billion FY2024 Revenue) and Planet Fitness ($1.18 Billion FY2024 Revenue); these tenants continue to remain category-dominant within their respective merchandise/service categories and expand their footprints.

In-Place National Credit Tenancy
Approximately 94% of the occupied square footage consists of national and regional tenants. These tenants comprise approximately 91% of the in-place rental revenue stream.

Value-Creation Opportunity
Valley Central Shoppes offers a near-term value-creation opportunity, as the collateral includes a vacant 13,400 SF junior anchor suite. Ownership has already received leasing interest from multiple tenants on this suite (former Party City that recently vacated). In addition, there is the ability to build a freestanding freeway-fronting pad with potential drive-thru configuration for a small food/service use (subject to requisite municipality and tenant approvals); see Site Plan for further detail.

Seasoned Tenant Roster
Valley Central Shoppes benefits from a seasoned tenant roster, with approximately 76% of the current tenancy in occupancy on/before 2015. Further, approximately 58% of the current tenancy has been in occupancy on/before 1994.

Strong and Continued Leasing Traction
The dominant community center within the submarket, Valley Central Shoppes benefits from continued tenant interest for both anchor and inline/pad tenancy. Recent lease executions within the subject property include ULTA (9,000 SF – 2024 execution) and Bath & Body Works (3,000 SF – 2025 execution).

Located in the Heart of “Aerospace Valley”
Lancaster’s economy benefits from a critical mass of public and private entities that operate over three million square feet of aerospace/industrial facilities in the area including the U.S. Air Force, NASA, Boeing, Northrop Grumman, and Lockheed Martin (including Lockheed’s elite Skunk Works division).

Edwards Air Force Base an Economic Driver
The subject property is positioned approximately 30 miles southwest of Edwards Air Force Base; the second-largest air force base in the U.S. and houses approximately 11,000 military personnel and families.