6020 Canoga Ave
Woodland Hills, CA 91367
Warner Center NNN Retail · Retail Property For Sale

Marcus & Millichap has been selected to exclusively market for sale the Warner Center Retail Portfolio, a portfolio of three trophy net-leased assets all ideally located within the prime, pro-development San Fernando Valley submarket of Warner Center, CA. Warner Center is experiencing explosive growth and projects 14 million square feet of non-residential building area, 200,000 residential units, and over 80,000 new jobs. The Warner Center Retail Portfolio consists of the following three assets: Staples, located at 21825 Erwin Street, El Torito Restaurant, located at 6040 Canoga Avenue, and a net-leased two-tenant retail building occupied by Premier Credit Union and Tomoya Sushi Sake House located at 6020 Canoga Avenue. The portfolio totals 34,557 square feet of building situated on a total of 97,902 square feet of land (2.25 acres). The Staples site is an 18,157 square feet of building situated on 50,552 square feet of land. El Torito is an 11,000 square foot restaurant with a full bar situated on 31,494 square feet of land. 6020 Canoga Avenue is 5,400 square feet of retail space on 15,856 square feet of land. The combined Canoga Avenue land square footage is 47,350 square feet of land. The properties are located in a state enterprise zone (reduced parking requirement of 2:1000), as well as in Tier 1 of the TOC guidelines. The Warner Center Retail Portfolio is centrally located in the high demand submarket of Warner Center (Downtown District), which boasts high-end demographics ($106,089-$269,230 average household income), dense immediate population, high barriers to entry, and strong market fundamentals yielding an investor/developer-favored market with significant growth potential. All three properties are unique, trophy locations, centrally located just north of the Ventura (101) Freeway and conveniently positioned in the center of a broad range of employment and retail options. The portfolio is located within the barrage of new hotels, residential buildings, and multi-use complexes like the Westfield Promenade (under development), Westfield’s “The Village” and Westfield Topanga. Warner Center is expecting a significant population increase between 2015 and 2020. The uniqueness of this offering is further defined by its central location positioned between two of the country’s largest planned developments. Westfield is set to invest over $1.5 billion towards the redevelopment of Westfield Promenade. The former Rocketdyne site is slated for a $3 billion mixed-use development. This rare opportunity, presents an investor/developer with the opportunity to acquire irreplaceable, premier locations within one of Los Angeles’ largest urban developments. The locations are truly unique and will benefit from the significant development and growth surrounding the subject properties. The wide range of potential usages for the sites present significant potential for long-term growth opportunities while an investor/ developer can benefit from excellent cash flow with rental increases from national credit tenants in the immediate future. The properties can be purchased as a portfolio or individually.