10901 CRENSHAW BLVD INGLEWOOD CA 90303
Significant Value-Add Opportunity in high-growth City of Inglewood
Marketing description
CBRE Investment Properties has been retained by Ownership as the exclusive marketing adviser for Crenshaw Plaza located at 10901 Crenshaw Blvd, in Inglewood, Los Angeles County, CA (“the Property”). This 100% occupied, ±8,636 SF multi-tenant strip center anchored by Papa John’s Pizza features a complimentary mix of restaurant, convenience and service-oriented tenants catering to the daily needs of the dense residential population surrounding the center. The Property offers a long-standing history of high occupancy, with a rent roll full of internet resistant tenants, many of which have operated at the property for 5+ years. With the majority of the rent roll on NNN leases, savvy investors have the opportunity to significantly increase cash flow by enforcing full operating expense reimbursements for the NNN tenants.
Crenshaw Plaza offers a strategic value-add opportunity to acquire a well-positioned retail center poised for long-term appreciation within the City of Inglewood – a high-growth Los Angeles submarket primed for sustained international visibility.
Investment highlights
- Ideal 1031 Exchange- As an easy to manage, 7-tenant strip center, Crenshaw Plaza presents an ideal 1031 exchange candidate or addition to any investor’s portfolio.
- Notable Value-Add Opportunity- Crenshaw Plaza offers investors the ability to purchase a value-add strip center with significant upside by bringing tenants up to market rents by enforcing NNN clauses in the leases.
- Significant Exposure Along Major Thoroughfare - Located at the highly trafficked, signalized intersection of Crenshaw Blvd and W 109th Street with more than 34,171 cars driving by on a daily basis.
- Prime Inglewood Location Less than 1.5 Miles to SoFi Stadium – Inglewood is a world-renowned sports and entertainment destination that has received close to $10 billion of investment into the construction of SoFi Stadium, Intuit Dome, and the to-be-completed 300-acre/8.5 million SF Hollywood Park development, only 1.5 miles from Crenshaw Plaza.
- Bread & Butter Strip Center- Prototypical strip center layout with efficiently sized tenant suites conducive to high occupancy, optimal rents and low tenant improvement costs.
- Excellent Demographics- Densely populated, infill Los Angeles location with 858,033 residents living within five miles of the Property having an average household income of $106,916.
- Central Location Close to Major Freeways- Crenshaw Plaza is centrally located in bewteen the I-405 and I-110 Freeways, less than a mile to the I-105 Freeway providing easy access from points in all directions including Los Angeles International Airport (LAX) and Downtown Los Angeles.
- Longstanding, Internet Resistant Tenancy- Anchored by Papa John’s, the Center is currently 100% occupied by a diverse mix of restaurant, convenience and service-oriented tenants serving the daily needs of the surrounding community, facing virtually no competition from online retailers.
- NNN Leases w/Annual Increases- The majority of the rent roll offers NNN leases allowing for full pass through of operating expenses, as well as annual rent increases.
- Depreciable Asset- Fee ownership allows investors the benefit from an increase in after tax cash-flow by depreciating the building improvements – not a ground lease.
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