Reddy Plaza Santa Clarita, California
About This Property
Marketing description
The property is described as a neighborhood shopping center, which consists of five one and two‐story buildings consisting of approximately 115,575 SF of net rentable space. The property was constructed in 1966 and 1989, with the exterior recently updated in 2022. The tenant mix consists of national, regional, and local tenants. As of December 2022, the property is 96.21% leased by multiple tenants (see the attached rent roll). The notable tenants are Bank of America, Goodwill, Total Renal Care, Inc. (DaVita) and a grocery outlet, with a signed LOI in place. Please note that there is a Shell gas station located on the corner of Bouquet Canyon Road and Seco Canyon Road, which is not part of the collateral. The subject contains 359 parking spaces or a parking ratio of 3.09 spaces per 1,000 SF. The site is approximately 564,538 SF or 12.96 acres of land. The site is generally rectangular in shape and is level and at street grade.
Investment highlights
- Address: 26811 & 26859-26893 Bouquet Canyon Road, and 26830-26860 Seco Canyon Road in Santa Clarita, CA
- The property is located at a signalized intersection on Bouquet Canyon Road, which is one of the busiest roads in Santa Clarita
- Site Overview: The center is comprised of 564,538 SF (12.96 acres) of land, with 115,575 SF of retail space (a ~20.5% coverage ratio)
- Access: The center has seven ingress and egress points—four on Bouquet Canyon Road and three on Seco Canyon Road
- Tenancy: Notable Tenants include Bank of America, Grocery Outlet, Goodwill, DaVita Dialysis Center, Little Caesar's Pizza, and a UPS Store, along with a mix of other national and regional tenants
- The Shell Gas Station on the corner is not part of the collateral
- History: The exterior was renovated and upgraded in 2022, and the property is very well maintained and professionally managed
- Performance: The Year-to-Date Net Operating Income through May 2026 is $1,191,095.72 (adjusting for the annual 1st and 2nd mortgage payments)
- The center is currently 97.21% leased on a square footage basis
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