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11623 Rosecrans Avenue - Norwalk Town Square, Norwalk, CA

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11623 Rosecrans Avenue - Norwalk Town Square

Norwalk, CA 90650-3819 - Mid-Cities Submarket

Property Type:Retail Sub Type:Drug Store Status:Existing Year Built:1956
Building Size:24,130 SF Land Area:2 AC (87,120 SF)
For Sale Price:Portfolio Price/SF:For Sale
Cap Rate:3.70 %
Portfolio:This property is for sale as part of a portfolio of 3 properties. Parking:107 Surface spaces are available; Ratio of 4.43/1,000 SF Anchor Tenants:CVS Pharmacy
Features:Bus Line, Pylon Sign, Signage, Signalized Intersection, Drive Thru

Sale Notes:
Faris Lee Investments is pleased to offer for sale the fee simple (land & building), freestanding, absolute NNN leased, CVS Pharmacy (the Property ), which is ideally positioned in the heart of the densely populated, Southern California, city of Norwalk (Los Angeles County). The Tenant , CVS Health, has recently extended their lease to reflect a Brand New, 25-Year, Lease, which features extremely rare 10% rent increases throughout the Primary Term and 2 (10-Year) Options to extend, providing a new investor the ability to own a trophy real estate asset that is both secure and stable.

CVS Health Corporation is a publicly traded company on the New York Stock Exchange (NYSE: CVS) with over 9,650 locations worldwide, an S&P rating of BBB+ , 2015 Revenues of $153.290 billion (10% increase from 2014), 2015 Net Income of $5.237 billion (12.7% increase from 2014), 2015 Assets of $93.657 billion (26.2% increase from 2014), and 2015 Equity of $37.196 billion.
The Property is strategically located along Rosecrans Avenue (32,238 vehicles per day), main east/west thoroughfare, near the signalized, hard corner intersection of Rosecrans Avenue and Pioneer Boulevard, which is trafficked by more than 80,000 vehicles per day. CVS Pharmacy is positioned within Norwalk Square, which is comprised of strong national/credit tenants including O' Reilly Auto Part' s and Cricket Wireless, creating excellent tenant synergy and cross-traffic within the center.

Colliers International
Eric Carlton
(949) 724-5561

Donald Ellis
(949) 724-5572

Michelle Schierberl
(949) 724-5574

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