7811 7971 Valley View St
La Palma, CA 90623
Walgreens - La Palma Convenience Center · Retail Property For Sale

Marcus and Millichap is proud to offer the exclusive opportunity to acquire a high profile drug store anchored retail center in La Palma, CA (Orange County); 36,882 square foot multi-tenant shopping center anchored by Walgreens. The subject property consists of13,000 square foot stand-alone Walgreens with Drive-Thru situated on a separate corner parcel with 15 years remaining on the initial 25-year Walgreens lease term. This is an excellent value-add investment opportunity. The strip center has three separate buildings totaling 23,882 square feet and are occupied by 15 tenants on shorter-term leases. All shop and pad tenant leases (excluding Walgreens) expire between now and 2022 with either fair market value or no further renewal options. The offering provides a prospective investor with a multitude of repositioning options in the near future. The subject property is ideally situated at the high traffic intersection of Valley View Street and La Palma Avenue (66,000 cars per day) with over 600 feet of frontage along Valley View Boulevard (42,000 cars per day). The city of La Palma was ranked as one of the Best Places to Live by Money Magazine in 2015 with an average household income of over $119,000 within the city limits. More than 630,000 people live and work within a 5-mile radius of the subject property.