537 N Pacific Coast Hwy
Redondo Beach, CA 90277
Triple net Single- Tenant Petco · Retail Property For Sale

Coastal N.N.N Single Anchor Tenant Petco: -Established and successful Petco location; Tenant since 1994 (24 years) -Brand new 10-year lease extension with two 5-year options to renew -Corporate guaranteed lease with 10% rental increases every 5 years ,May. 2019 -Petco has over 1,400 locations across the country, and is planning a large 2018 expansion -Petco has grown their revenue by over 45 percent since 2008 -N.O.I $377,520 N.N.N [Projected 2021] Pacific Coast Highway (CA Route 1) Location: Pacific Coast Highway runs north and south along the California Pacific coastline and has over 40,000 cars per day passing the subject property Strategic Location in Complementary Retail Center: The subject property is located within King Harbor Plaza, a Smart & Final Extra! anchored retail center with a complementary mix of local and regional tenants with six points of ingress/egress Stability of Income: Petco has occupied space at the property since 1994 and recently demonstrated their commitment to the location with a new 10-year lease extension Excellent Visibility and Identity: The subject property benefits from prominent, double-panel monument signage along Pacific Coast Highway Irreplaceable Redondo Beach Location: Redondo Beach is part of the highly desirable South Bay area of Los Angeles and has over $131,000 average household income within a 1-mile radius of the subject property Dense, Infill Trade Area: Over 400,000 people within a 5-mile radius of the subject property Walking Distance to the Beach: The subject property is located near the Hermosa Beach Strand, the Redondo Pier, King Harbor Marina and the future Waterfront Redondo development Strong Retail Trade Area: Retailers in the immediate area include Whole Foods, CVS/Pharmacy, Rite Aid, Starbucks and Panda Express Close Proximity to Nearby Affluent Coastal Cities: Located minutes from Hermosa Beach, Manhattan Beach, and Santa Monica Significant Concentration of Nearby Employers: Major businesses in the surrounding region include Toyota, Direct TV, Mattel, Chevron, Northrop Grumman, and Space X