Listed by REZA Investment Group
Unpriced
Foothill Plaza
Details
APN 8666-001-022
Property Type Retail
Sub Type Grocery Store, Shopping Center
Square Footage 64,564
Occupancy 100%
Year Built 1974
Year Renovated 2002
Acreage 5.010
Seasoned Sprouts Anchored Center - Affluent Suburban Los Angeles Location
Marketing description
Anchored by a 30,046 square foot Sprouts Farmers Market, Foothill Plaza is a 64,564 square foot grocery-anchored neighborhood shopping center located in the affluent and supply-constrained San Gabriel Valley community of La Verne, CA. The property is situated on the signalized intersection of Foothill Blvd. (Route 66) and Wheeler Ave, and is positioned directly along the 210 Freeway.
Foothill Plaza features an 89% national and regional tenant base. Additional national and regional tenants within the collateral include Daiso, FedEx Office, Bank of America (freestanding pad), HOTWORX, and Water Wings Swim School.
Investment highlights
- Strong Performing Grocer Anchor
- Sprouts is one of the largest and fastest growing specialty retailers of fresh, natural and organic food in the U.S. The company employs approximately 35,000 team members and operates more than 440 stores in 24 states. This location ranks in the 82nd percentile company-wide in customer visits per square foot within the Sprouts chain (per Placer.ai).
- Daiso Co-Anchor with Significant Year-Over-Year Traffic Growth
- As Daiso continues to gain saturation in the submarket, the tenant has experienced a 21% year-over-year increase in annual customer visits over the trailing twelve-month period (per Placer.ai).
- Prominent Freeway Frontage and Visibility
- The property benefits from approximately 375 feet of linear frontage and freeway visible tenant signage along the California 210 Freeway, which receives strong traffic counts of approximately 175,000 vehicles per day (Foothill Blvd. interchange).
- Long-Term National and Regional Credit Tenancy
- The subject property’s tenant roster predominantly features long-term leases in place, with a weighted average lease term remaining of approximately 6.8 years; providing a secure income stream for an investor.
- Established Sprouts Grocer on Long-Term Lease
- Sprouts has lease term through March 2032 with three five-year options extending through March 2047; providing a secure income stream for an investor.
- Secure Income Stream with National and Regional Tenancy
- Approximately 89% of the occupied square footage is comprised of national and regional tenants.
- Healthy Bank of America Branch Bank of America’s branch at the subject property carries approximately $410MM in deposits (per FDIC.gov).
Listing Contacts
Listed by REZA Investment Group
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