Grocery-Anchored Shopping Center in West Covina, CA

Stater Bros. Shadow-Anchored Shops - West Covina

Closing Notes

  • Sourced a Local Buyer
  • 1031 Exchange Buyer

Property Description

Price: $5,665,000
Price Per/SF: $380.33
Land Area: ±0.92 Acres
Cap Rate: 5.50% | 6.41% Pro Forma
Gross Leasable Area: ±14,895 SF
Year Built: 1975

Investment Highlights

Shadow-Anchored by a Busy Stater Bros. Location | Stater Bros. is a Strong Traffic Generator at this Intersection

Located at the “Main & Main” Intersection of Amar Road and Valinda Avenue – Traffic Counts Exceed 25,295 Cars Per Day

100% Occupied Retail Center with Opportunity for Additional Upside – The Property Includes Two Separate Shopping Strips, One of Which is a Freestanding Outparcel to Stater Bros.

Retail Investment Opportunity with Upside

  • Low Price Per SF of Just $380.33
  • Excellent Operating History – Nearly 65% of the Tenants Have Operated at the Property for 9+ Years
  • Located in the Unique West Covina Submarket | Located in Close Proximity to the Heights at West Covina, a Major Power Center Anchored by The Home Depot, Target, and PetSmart
  • Opportunity to Achieve a 6.41% Cap Rate by Renewing Below Market, Expiring Tenants at Market Rents | Staggered Lease Expirations Ensure Stability During Lease Negotiations with Individual Tenants

Excellent Demographics & Strong Real Estate Fundamentals

  • Extremely Dense, Infill Area – Population Counts Exceed 472,622 Within a Five-Mile Radius
  • Strong Average Household Income of $104,900 Within a Five-Mile Radius
  • Multiple Points of Ingress and Egress from Both Amar Road and Valinda Avenue
  • Centrally Located Between the Area’s Major Freeways (60 and 10 Freeways) | The Subject Property is Surrounded by Single Family Homes as well as Several Large Apartment Complexes

BROKER OF RECORD: Adam Christofferson, License: CA 00530854

Contact Information

Ron Duong
Ron Duong
Senior Managing Director Investments
Senior Director, National Retail Group
(949) 419-3233
[email protected]
License: CA 01438643

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