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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

Property Type:Retail Sub Type:Freestanding Status:Existing Year Built:2006
Building Size:141,000 SF Land Area:11.2 AC (487,872 SF)
For Sale Price:$11,400,000 Price/SF:$80.85
Cap Rate:8.51 %

Sale Notes:
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 7.5% rental increases at the beginning of each 5 (5-year) option periods, which generates steady NOI growth and hedges against inflation with cash returns well above 10%.

• Strong national / credit tenant - S&P Credit: A-
• Limited competition - Draws from a large trade area including the wealthy communities of the Palos Verdes Peninsula as well as the beach communities
• Excellent cash / cash returns
• Site has excess parking along with a low building coverage allowing potential future redevelopment
• Absolute triple net lease
• Long term lease with scheduled rental increases throughout option periods
• Dense infill area with high disposable incomes
• Long term ground lease with fixd payments and no fair market value adjustments
• Located in close proximity to several highly successful national retailers - Costco, Whole Foods, Trader Joes, Vons & Home Goods
• High quality construction

Faris Lee Investments
Tom Chichester
(949) 221-1820

Donald J MacLellan
(949) 221-1800 x221

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