19255 Ventura Blvd
Tarzana, CA 91356
Citibank on Ventura Blvd. · Retail Property For Sale

Marcus & Millichap is pleased to present a rare opportunity to acquire the second busiest deposit bank of all Citibanks in the central coast region. This core asset with $115m+ Deposits has 6 years remaining on the initial 10-year Absolute NNN Lease guaranteed by Citibank Corporate. Absolutely no landlord responsibilities. Citibank (S&P Rating: A) signed the initial 10-year absolute NNN lease in February 2014 with four, 5-year options and annual rent increases of 1.5%. Citibank didn't use the early termination clause since this is a very strong location for them. This property is located in a desirable dense area, on the signalized northeast corner of Tampa Avenue and Ventura Boulevard (35,000+ cars per day). Only one block south of the 101 Freeway exit ramp, this Citibank is located in the heart of Tarzana, CA with over 400,000 people within a 5-mile radius. This investment opportunity offers a strong, seasoned tenant/location in the desirable Southern California Real Estate market with major upside in below market rents. This free-standing building consists of an estimated 10,467 rentable square-feet on a 23,853 square-foot lot with major street frontage on both Tampa Avenue and Ventura Boulevard. The property is situated in a strong retail corridor and features ample parking all around the building. Tarzana is a prosperous neighborhood in the San Fernando Valley region of the City of Los Angeles, California. With a growing population, Tarzana has become an attractive place to work and live, with some of the most desirable real estate along the 101 corridor.