2130 Pacific Coast Hwy, Lomita, CA, 90717-2503, US

Target - Lomita, CA

Asset description

JLL, as exclusive advisor, is pleased to offer the extraordinary opportunity to purchase the fee simple interest in Target’s newest store (the “Property”), located directly on Pacific Coast Highway (102,078 VPD). The location is supported by an incredibly dense and affluent trade area with over 26,900 residents and average household incomes exceeding $116,000 within a 1-mile radius. This opportunity includes a long-term triple net (NNN) lease with attractive 10% rent increases every 5 years during both initial term and renewal options. Target’s newest urban concept is featured at this location with 12 dedicated click and collect parking spaces in addition to the integrated CVS pharmacy.

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Attributes

Building area net

3,034 sm

Occupancy

100%

Year built

1980

Land area net

0.71 ha

WAULT

10 years

Media

Investment highlights

Fortress Credit: Target has executed a new 10-year lease, offering investors a fixed rental increase and a corporate-guaranteed lease. The lease term includes additional options with rental increases.

Trophy Demographic Profile: Target in Lomita, CA is located in a densely populated area with affluent residents and high household incomes within a 3-mile radius. The location is adjacent to affluent communities.

Strategic Last Mile Fulfillment Hub: The property is less than 2 miles from the 110 Freeway, providing strategic value for delivery and click-and-collect services.

Significant Target CapEx Spend: Target has invested $8.75 million in the buildout of the Lomita location, demonstrating its commitment to creating a premium shopping experience.

Visibility and Accessibility: The property is located along Pacific Coast Highway, a prominent and well-traveled arterial road, providing excellent visibility. It also features a new small-store format optimized for click and collect, along with a large surface parking field with easy accessibility.