WSS Shoes
Retail | 5.22% CAP | 7,600 SF
Marketing description
We are pleased to offer to qualified investors an opportunity to purchase a single tenant net leased investment (fee simple) that is fully occupied by WSS (Warehouse Shoe Sale), a Foot Locker subsidiary, with a newly signed 5-year extension and an additional five (5) year option period. Located in Palmdale, CA, the subject property is positioned at the intersection of East Palmdale Blvd (State Rte. 138) and 17th St East which sees over 25,800 VPD and is located near major travel corridors including California State Rte. 14 and the Pearblossom Hwy. This is an excellent opportunity to own a BB+ (S&P Credit Rating) NNN retail investment on a hard corner signalized intersection with over 5 lease years remaining and minimal landlord obligations.
Investment highlights
New Recent 5 Year Corp. Lease Extension with WSS Shoes (NYSE: FL)- Subsidiary of Foot Locker
High Profile Outparcel PAD to Gateway Center- Vallarta Grocery Anchored Shopping Center
Strong National Brand with One of the Largest Selection of Top Brand Footwear (Nike/Vans/Adidas)
Dense Southern California City of Los Angeles- Dense Community Part of Lancaster/Palmdale MSA
Best in Class for Shoe Stores- Iconic American Brand- $9.0B+ in Sales for 2021- Market CAP over $3B
Proven Location since 2011 with Early Renewal- Minimal LL Duties- Located along Main Corridor (138)
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