12500 Vanowen St
North Hollywood, CA 91605
Retail Property For Sale

CBRE, Inc., as the exclusive advisor, is pleased to present Vanowen Center, located in North Hollywood at the intersection of Vanowen Street & Whitsett Avenue which has a daily traffic count of approximately 30,088 cars per day. The site consists of an approximately 9,400 square foot building situated on approximately 20,938 square feet of land. The center also benefits from being positioned across the street from The Piedmont, which is a 198-unit senior housing community made up of one- and two- bedroom luxury units and the Park Plaza Senior Apartments, made up of 201 units and provides a large consumer base that’s close by. The center is currently 100% occupied by 10 tenants that cater to the daily needs of the surrounding neighborhood and are not as easily impacted by the internet or economic downturns. Most of the tenants have strong yearly increases ranging from 3% - 5%. The center offers ease of management since all of the tenants are on NNN leases. The majority of the tenants also pay below market rents which offers potential upside in the future as the leases roll over. North Hollywood has proven to be a very robust and strong market for retail. The vacancy rate is 1.6% which has helped drive rents higher as vacant space has decreased. This offering provides an investor the opportunity to purchase an excellent long-term investment in a well located shopping center in a densely populated area of Los Angeles with stable, in-place income and potential upside in rental growth in the future.