Ventura Village Retail FOR SALE


Ventura, CA
$33,714,000 USD
949-725-8507
, Ventura, CA for Sale
$33,714,000 USD
Retail - FOR SALE
1/6
null | 6% Cap Rate

Ventura Village
Ventura, CA


HIGHLIGHTS

  • High Performing Neighborhood Center
  • Strong Tenant History/Retention – (76% of the existing GLA) having occupied the property for more than 13 years
  • Improving Returns – the Net Operating Income is expected to increase more than $618,000 (31%) over the expected hold period

OVERVIEW

* High Performing Neighborhood Center – Ventura Village is a ±76,070 SF grocery neighborhood shopping center anchored by Vons, which generates strong sales volumes (contact broker for more detail) * Vons, wholly owned subsidiary of Albertsons Companies, Inc., (NYSE: ACI) is a leading food and drug retailer in the US, operating 2,270 retail stores with 1,728 in-store pharmacies, 405 associated fuel centers, 22 dedicated distribution centers, and 19 manufacturing facilities. Albertsons has a current market capitalization of $13 billion, a revenue of $80 billion, and S&P rating of BB+ * Strong Tenant History/Retention – Secure, established income stream with several of the tenants (76% of the existing GLA) having occupied the property for more than 13 years, including Vons which has been operating at this location since 1984, demonstrating a recession resistant asset with high tenant demand * Improving Returns – Due to embedded increases, lease up of available space, and below market leases rolling to market, the Net Operating Income is expected to increase more than $618,000 (31%) over the expected hold period, providing an inflation hedge in a tangible asset * Excellent Visibility, High Traffic Location – Ventura Village enjoys excellent access and line of sight visibility along both S. Victora Ave (±46,400 cars per day) and Telephone Rd (±28,200 cars per day) * Affluent, Coastal Southern California Demographics – More than 86,900 people in a 3-mile radius with an Average Household Income exceeding $141,900, and average disposable income within 3 miles of the property exceeds $100,000 per year

ASK ABOUT THIS PROPERTY

Jimmy SlusherCBRE, Inc.More Info
949-725-8507

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.

Jimmy SlusherCBRE, Inc.More Info
949-725-8507

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.