5233 W. Centinela Avenue
Los Angeles, CA 90045 ·
186,770 SF · Retail For Sale
|Gross Leasable Area||186,770 SF||Tenancy||Single|
|Property Type||Retail||Year Built||1964|
|Lot Size||15 AC|
|Property Use Type||Investment|
|Listing ID: 14336918||Date Created: 09/15/2005||Last Updated: 12/05/2005|
Grubb & Ellis is pleased to exclusively offer for sale, Ladera Center, a 186,770 square foot grocery and drugstore anchored neighborhood center. Ladera Center is anchored by a 60,076 SF Ralphs Marketplace, a 17,825 SF Sav-On Drugstore and a 27,400 SF Ross Dress for Less. The center was built in 1965, redeveloped in 1985 and 2002 and is currently 100% leased to 33 tenants. The center features such prominent credit tenants as Starbucks, TGI Friday's, The Avenue, Blockbuster Video, FootAction, Radio Shack, Wells Fargo, Jamba Juice, Union Bank and Subway. This is an exceptional opportunity to acquire the dominant neighborhood center in a barriers to entry market. Buyer must either assume the existing loan with a balance of $21 Million at 5.15% interest rate or Buyer can prepay the loan for approximately $1.3 Million. THIS LISTING IS UNPRICED. IF YOU ARE INTERESTED AND WOULD LIKE THE DETAILED OFFERING MEMORANDUM THEN PLEASE EXECUTE AND FAX BACK THE ATTACHED PRINCIPAL OR BROKER REGISTRATION AGREEMENT. OFFERS ARE DUE SEPT. 26TH.
Ladera Center is located at the intersection of three major arterials; La Cienega Blvd., La Tijera Blvd. and Centinela Avenue, within the densely populated Los Angeles community of Ladera Heights. Approximately 183,000 cars drive by the center per day. Ladera Center is in excellent condition and is the dominant center in the trade area. THIS LISTING IS UNPRICED. IF YOU ARE INTERESTED AND WOULD LIKE THE DETAILED OFFERING MEMORANDUM THEN PLEASE EXECUTE AND FAX BACK THE ATTACHED PRINCIPAL OR BROKER REGISTRATION AGREEMENT. OFFERS ARE DUE SEPT. 26TH.
- Desirable Urban Location
- Below Market Rents
- Stabilized Cash Flow
- Strong Tenant Sales Volumes
- Limited Competition
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