NNN Petco + Billboard Investment Opportunity In Los Angeles
1873 Westwood Blvd, Los Angeles, CA 90025
Marketing description
Kidder Mathews is pleased to present the exclusive opportunity to acquire a single-tenant, net-leased investment occupied by Petco, located at 1873 Westwood Blvd in Los Angeles, California. Petco has recently exercised a 5-year renewal option, providing a fresh lease term and demonstrating strong commitment to the location.
The property is located in the heart of Westwood, one of the most desirable and supply-constrained retail markets in West Los Angeles. The surrounding area features dense population, high household incomes, and strong consumer demand driven by proximity to University of California, Los Angeles, Century City, Brentwood, and Santa Monica.
Petco has operated at this location for 25 years, demonstrating long-term stability and proven store performance.
The lease is backed by Petco Health and Wellness Company, Inc., a publicly traded pet care platform operating over 1,500 locations globally. The company benefits from a diversified business model that includes retail, grooming, training, and veterinary services, supported by institutional ownership from CVC Capital Partners and Canada Pension Plan Investment Board.
This investment also includes a billboard lease with OUTFRONT Media, one of the largest outdoor advertising companies in the country, providing an additional guaranteed income stream to the landlord.
This offering provides investors with a rare opportunity to acquire a passive, net-leased retail asset in a premier West Los Angeles location with strong real estate fundamentals, diversified income, and long-term tenant stability.
Investment highlights
PROPERTY & LEASE HIGHLIGHTS
• Recent Lease Extension - Petco recently exercised a 5-year renewal option, providing a fresh lease term and demonstrating strong commitment to the location.
• 25-Year Operating History at the Site - Petco has operated at this location since 2001, demonstrating proven store performance and long-term tenant stability.
• NNN Lease Structure - The property is subject to a triple net lease, providing minimal landlord responsibilities and a passive ownership profile.
• Additional Billboard Income - The property includes a billboard lease with Outfront Media, providing a supplemental income stream to ownership.
• Rare West Los Angeles Offering - Opportunities like this rarely come to market in West Los Angeles, particularly with a national tenant and additional billboard income.
• Prime Retail Corridor Location - Located on Westwood Blvd just off Santa Monica Blvd, the property benefits from strong visibility and access along a major Westside thoroughfare.
• Large Infill Parcel - The property consists of approximately 20,630 SF of land with a ±15,490 SF building, offering strong underlying real estate fundamentals.
TENANT HIGHLIGHTS
• National Pet Care Platform - Petco operates a diversified pet care platform offering retail, grooming, training, and veterinary services.
• 1,500+ Locations Nationwide - Petco operates over 1,500 locations globally, providing significant national scale and brand recognition.
• Publicly Traded Tenant - Petco Health and Wellness Company, Inc. is publicly traded on NASDAQ under the ticker WOOF.
• Institutional Ownership - Petco is backed by CVC Capital Partners and Canada Pension Plan Investment Board, two of the largest and most respected institutional investors globally.
• Diversified Business Model - Petco generates revenue across retail, services, veterinary care, and e-commerce, creating a resilient operating platform.
• Strong Industry Tailwinds - The pet care industry continues to experience long-term growth driven by increasing pet ownership and consumer spending.
• Recurring Customer Demand - Pet ownership drives repeat spending on food, grooming, and healthcare, supporting consistent traffic and revenue.
• Well-Capitalized Tenant - Petco operates with strong institutional backing and access to capital as a multi-billion dollar platform.
LOCATION HIGHLIGHTS
• Premier Westwood Location - The property is located in the heart of Westwood, one of the most desirable and supply-constrained markets in Los Angeles.
• Dense, High-Income Demographics - The surrounding area features strong population density and average household incomes exceeding $130,000 within a 1-mile radius.
• Proximity to UCLA - The property is located approximately 1.9 miles from UCLA, a major employment, education, and demand driver.
• Near UCLA Research Park - Located approximately 0.7 miles from UCLA Research Park, supporting additional daytime population and demand.
• Access to Major Westside Markets - The property benefits from proximity to Westwood, Brentwood, Century City, Santa Monica, and Beverly Hills.
• High Traffic Retail Corridor - Westwood Blvd and Santa Monica Blvd are major retail corridors with strong traffic counts and consistent consumer flow.
• Affluent Consumer Base - The area is home to professionals, students, and high-net-worth individuals driving strong retail demand.
• High Barriers to Entry - West Los Angeles is a highly supply-constrained market with limited opportunities to acquire comparable assets.
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