LA County Retail Re-development Opportunity
11732 Rosecrans Ave Norwalk , CA 90650

LA County Retail Re-development Opportunity - retail for sale

Download offering memorandum:

Overview



JLL is pleased to offer for sale a strong repositioning opportunity at 11732 Rosecrans Avenue in Norwalk, CA (the “Property” or “Asset”). The Property is located on a 0.51-acre (22,427 square-foot) combined land parcel, including a vacant 8,100 SF retail building formerly occupied by Mega Shoe Factory with an adjacent parking lot. 

Investment highlights


  • Increased retail leasing velocity within one-mile of the Asset has led to a 110 basis point decrease in retail vacancy over the past 12 months, creating a scarcity of vacant retail opportunities.
  • The Property's freestanding nature and larger acreage is rare for the immediate sub-market, and when combined with the adjacent 29-space parking lot, investors will have a tremendous opportunity to capitalize on stellar retail demand tailwinds.
  • The Asset will attract various freestanding storefront retail concepts that will benefit from the heavy foot traffic within the immediate neighborhood.
  • With direct frontage to a rare five-point intersection, the Property draws a combined 74,900 VPD at the convergence of Rosecrans Avenue, Pioneer Boulevard, and San Antonio Drive.
  • Strong retail market fundamentals within one-mile of the Property include over 4.1 million square feet of inventory with 3.7% annual market rent growth rate over the past five years headlined by national tenancy of GNC, Sprint, Taco Bell, Yogurtland, and FedEx.
  • Over 129,800 workers contribute to a daytime population exceeding 259,000, encompassing the densely populated community within a three-mile radius of the Property.
  • Situated directly between Los Angeles and Orange Counties, Norwalk has developed into a premier film destination that utilizes local landmarks, including Paddison Farm, Front Street, and unique residential pockets.
  • Home to Metrolink and Metro Greenline stations, Norwalk has emerged as a vital regional transportation hub that’s served by the Santa Ana Freeway (I-5), San Gabriel River Freeway (I-605), and Century Freeway (I-105).


General
Property type Retail
Tenure type Sale/Purchase
Property address 11732 Rosecrans Ave, Norwalk, CA 90650-3928
Land in acres 0.51
Building size 8,100  ft2
Financial
Price Confidential
Cap rate Confidential
Lease

LA County Retail Re-development Opportunity - retail for sale

Presented by Jones Lang LaSalle Americas, Inc.

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