1251 4th Street
Coastal, High-Profile Single Tenant Net Leased TJ Maxx
Marketing description
Newmark Pacific Capital Markets is pleased to present, to qualified investors, the opportunity to acquire a coastal and high-profile single tenant net leased TJ Maxx (“Property”). Located at 1251 4th Street in Santa Monica California, the Property sits on the signalized hard corner of Arizona Avenue and 4th Street, the heart of Santa Monica’s commercial district. This irreplaceable, infill coastal location is widely known for its heavy pedestrian and tourism traffic. High barriers to entry, disciplined planning under the Downtown Community Plan, and proximity to the Metro E Line reinforce long-term value and stability of this location. TJ Maxx occupies 32,000 square feet on 0.32 acres of land and has operated here since 2009, recently executing their 1st option, expiring in 2032, with two (2) five (5) year options remaining.
TJX (NYSE) is the parent company of TJ Maxx and considered one of the most stable and credit-worthy retailers in the world. With a market cap exceeding $175 Billion and 12-month revenues of over $61 Billion, the company continues to outperform its competitors while maintaining a healthy balance sheet and positive net cash position.
Investment highlights
High Profile & High Credit Single Tenant Net Lease Opportunity
- TJ Maxx (NYSE:TJX) is considered one of the most stable and credit worthy retailers in the world. With a market cap exceeding $175 Billion and rated as a “strong buy” by 21 analysts, TJX continues to outperform competitors and remains one of the 10 best dividend companies to buy
- Prominently located at the signalized intersection of Arizona Avenue and 4th Street, the heart of Santa Monica’s commercial corridor carry 16,562 VPD
- Walkable urban street retail and considered one of the most pedestrian friendly retail markets in Los Angeles
- TJX Companies is considered the Global off-price apparel and home fashions leader, international banners include TJ Maxx, Marshalls, HomeGoods, Sierra Trading Post, Homesense, and TK Maxx
Strong Real Estate Fundamentals
- TJ Maxx has operated at this location since 2009 and recently exercised their 1st option through 2032, validating their commitment and success at this location
- Rent is arguably below market, providing investors stability and downside protection in. Market rents exceed $50 PSF for comparable space along 3rd & 4th Street
- High barriers to entry with deep tenant demand and historically durable rent fundamentals with limited supply
- Transit access near the Metro E Line terminus (averaging 60-70k weekday riders) and immediate access to the I-10 (59,000 VPD), supporting a robust daytime population and regional draw
- Off-price continues to show tremendous resilience in any market cycle, capturing value-oriented consumers, with in-store discovery favoring brick—and-mortar visits and repeat customer visits
- Limited landlord responsibilities with roof and structure. Tenant pays taxes directly, maintains the building, and reimburses for LL insurance
Offered Free & Clear of Existing Debt
- Ideal 1031 exchange opportunity
- Location and tenant credit profile will attract the best debt available, capital markets are very bullish on retail
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