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NNN Leased Investment | 2019 Construction

Listing was updated at: 06/21/2019
NNN Leased Investment | 2019 Construction

Property Overview

Price/Rent PSF $ 4,250,000.00
Asset Type Retail
Trade Type Sale
SQ. FT. Available 4,333
Date Available 06/14/2019
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Description

Kidder Mathews is pleased to offer for sale the Pacific Premier Bank & Wingstop retail pad, a freestanding two-tenant NNN retail investment in the City of Montebello. Positioned within the heart of the Los Angeles metro, this high-image asset is a newly constructed (2019) approximately 4,333 gross SF pad building situated on a high-profile 20,602 SF signalized corner land parcel. The Pacific Premier Bank & Wingstop retail pad opportunity offers the investor a stable income stream with brand new long-term leases and market rate rental increases. Specifically, Pacific Premier Bank (Nasdaq: PPBI) has 7-year primary term lease (with renewal options) while Wing Stop (Nasdaq: WING) has a 10-year term plus multiple renewal options. The property is strategically positioned with significant frontage along Whittier Boulevard near Downtown Montebello, currently undergoing a major revitalization inclusive of new hotels, multi-family, condos and retail projects. Additionally, Whittier Blvd is one of the most heavily trafficked North/South corridors with daily counts in-excess of 62,000 cars per day (Whittier Blvd and Garfield Ave). Montebello is centrally located within Los Angeles county with an exceptionally dense residential and commercial infill population of over 210k having an Average HHI in-excess of $69k (3-miles). Situated just 7-miles from Downtown Los Angeles, the property’s location also benefits from convenient access to nearly all the area’s primary freeways including the I-5, 605, 710 and 60. Additionally, the site is surrounded by a synergistic mix of national retailers such as Costco, Target, Walgreens, Vons, LA Fitness and Rite Aid and is only minutes to the 700k SF Citadel Outlets shopping center.

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