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2080 California Ave
Sand City, CA 93955
Shops at Edgewater · Retail Property For Sale
Investment Highlights
- Premier Retail Center in Dynamic Coastal Monterey Bay Submarket
- Part of Super-Regionally Drawing Center Shadow-Anchored by Target, Lucky, Ross, HomeGoods, and PetSmart
- Proven Retail Submarket with Sub-2% Vacancy & Enduring Supply Constraints
- Fully Leased to Best-in-Class Tenants with Recent Lease Extensions
- Irreplaceable Location with DIrect Visibility from 83,300+ VPD on Highway 1
- Affluent Demographics Characterized by High Incomes & Consumer Spending
Executive Summary
Jones Lang LaSalle Americas, Inc. (“JLL”), as exclusive advisor, is pleased to present the opportunity to acquire the 100% fee simple interest in the Shops at Edgewater (the “Property”), a premier daily needs retail destination located along Highway 1 in beautiful Sand City, California.
The Shops at Edgewater is 100% leased to a high-performing mix of best-in-class tenants: ULTA Beauty, Panera Bread, Mancini’s Sleepworld, and Bank of America ATM. As an integral part of Edgewater on Monterey Bay, the shops serve as the center’s convenience cornerstone. ULTA Beauty & Panera Bread naturally complement the daily needs shopping at Target, Ross Dress for Less, and Lucky. The center is the primary essential retail destination for a growing residential community and regional visitors alike. The shops also benefit from exceptional visibility and regional connectivity in a vibrant coastal market off Highway 1.
This offering represents a unique opportunity to acquire a premier retail asset within a super-regionally drawing center in a dynamic coastal California submarket.
The Shops at Edgewater is 100% leased to a high-performing mix of best-in-class tenants: ULTA Beauty, Panera Bread, Mancini’s Sleepworld, and Bank of America ATM. As an integral part of Edgewater on Monterey Bay, the shops serve as the center’s convenience cornerstone. ULTA Beauty & Panera Bread naturally complement the daily needs shopping at Target, Ross Dress for Less, and Lucky. The center is the primary essential retail destination for a growing residential community and regional visitors alike. The shops also benefit from exceptional visibility and regional connectivity in a vibrant coastal market off Highway 1.
This offering represents a unique opportunity to acquire a premier retail asset within a super-regionally drawing center in a dynamic coastal California submarket.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Building Size
25,223 SF
Building Class
B
Year Built/Renovated
1996/2012
Price
$10,200,000
Price Per SF
$404.39
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Loading Docks
1 Exterior
Building FAR
0.29
Lot Size
1.99 AC
Zoning
C-4 - Commercial
Parking
101 Spaces (4 Spaces per 1,000 SF Leased)
Frontage
402’ on California Ave
Amenities
- Banking
- Freeway Visibility
- Restaurant
- Waterfront
Property Taxes
| Parcel Number | 011-011-039-000 | Improvements Assessment | $10,629,000 |
| Land Assessment | $4,700,000 | Total Assessment | $15,329,000 |
Property Taxes
Parcel Number
011-011-039-000
Land Assessment
$4,700,000
Improvements Assessment
$10,629,000
Total Assessment
$15,329,000
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