Map pinPico Canyon Road 24917, Stevenson Ranch, CA, 91381, US

Stevenson Ranch Plaza

Stevenson Ranch Plaza_Property for Sale

Attributes

NOI
€3,431,000
Occupancy
91%
Building area net
17,376 m²
Year built
1996
Year renovated
1999
Parking spaces
1,050
Zoning
C-3 (General Commercial)

Asset Description

Jones Lang LaSalle Americas, Inc. (“JLL”), as an exclusive advisor, is pleased to present the opportunity to acquire Stevenson Ranch Plaza, a top-performing grocery anchored center located in the affluent southern California master planned community of Stevenson Ranch, just east of Santa Clarita, the 5th safest city in America. The Property is just south of Six Flags Magic Mountain and sits on the main retail corridor of the area with direct access off the I-5 Freeway (190,565 VPD). Stevenson Ranch Plaza is anchored by a number of prominent national brands including Ralph’s, LA Fitness, PetSmart, and Guitar Center. Adjacent to the Property are other top tier retailers including Wal-Mart, Nike, Ross Dress For Less, Marshalls, and Bob’s Discount Furniture. The 187,035 SF property is 91% occupied today (with leases in negotiation to take the Property to 93% occupied), offering investors the opportunity to add value through the remaining lease up of 12,775 SF, while also pushing rents with the additions of top food options and other high quality retailers. An investor can capitalize on recent leasing momentum that includes two new food and beverage tenants projected to open early 2025. With these new tenants will come enhanced patio and dining areas that are currently entitled and will further activate the shops and outdoor spaces. Further, the Property is poised for further residential growth with housing development in process just 3 miles north of the Property which is projected to add 21,000 homes from homebuilders such as Richmond America, Tri Pointe, Lennar, Toll Brothers, KB Home and more.

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Investment Highlights

  • TOP-PERFORMING GROCERY ANCHORED CENTER
  • EXCELLENT DAILY NEEDS TENANT LINEUP WITH VALUE-ADD POTENTIAL THROUGH REMAINING LEASE UP
  • GREAT VISIBILITY AND IMMEDIATE FREEWAY ACCESS
  • STRONG AND GROWING FOOT TRAFFIC
  • IMPRESSIVE DEMOGRAPHICS WITH GROWING POPULATION
  • LOCAL DEMAND DRIVERS FACILITATE CONSISTENT TRAFFIC AND GROWTH
Stevenson Ranch Plaza 4_Property for Sale
Stevenson Ranch Plaza 4_Property for Sale
Stevenson Ranch Plaza (0 Properties)

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Last updated
1 Jul 2024