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2700 Skypark Drive - Lowe's, Torrance, CA
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2700 Skypark Drive - Lowe's
Torrance, CA 90505 - Torrance Submarket
11.2 AC (487,872 SF)
For Sale Price:
Faris Lee Investments is pleased to offer for sale the leasehold interest in an absolute NNN leased Lowes Home Improvement located in Torrance, CA. The tenant has a long term lease expiring in 2031, and features scheduled 5% rental increases at the beginning of each 5 (5-Year) option periods, which generates steady NOI growth and hedges against inflation.
Lowe' s Companies, Inc. (NYSE: LOW) is a publicly traded company, ranking #50 in the Fortune 500 with 2015 revenues of $56.22 billion, 2015 net income of $2.70 billion, 2015 assets of $31.83 billion and 2015 equity of $9.97 billion. Lowe' s sales increased 5.1% from 2014 to 2015 and the company features an investment credit rating of A- by Standard and Poors.
The property is exceptionally well located in the city of Torrance within the South Bay area, at the base of the affluent Palos Verdes Peninsula with an average household income over $156,000. The property is strategically positioned near the signalized, intersection of Skypark Drive and Crenshaw Boulevard (59,920 combined vehicles per day), directly across from one of the most successful Costco' s. In addition, this is a dense infill trade area with over 467,600 people and an employee base of 213,100 people living within a 5-mile radius, which presents significant barriers to entry for future
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Faris Lee Investments
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