
Wrigley Marketplace
141 E Willow St, Long Beach, CA, 90806, US
4,430 ㎡
JLL, as exclusive advisor, is pleased to present the opportunity to acquire the leasehold interest in 214,322 square feet of Hastings Ranch Plaza (the “Property”). The Leasehold Interest is currently 49% occupied by name-brand national tenants HomeGoods and Hobby Lobby. To address the recent vacancy of the 2nd story space, the seller will provide the buyer with a credit totaling $4,200,000 over two years. This credit is structured in two parts: an annual credit of $18.50 per square foot for the first two years (structured as a lease), and a one-time tenant improvement allowance payment of $5.00 per square foot, payable at the end of the two-year term. This opportunity is situated within an established retail center seeing 2.9 million annual visitors, up 27.8% year-over-year. Hastings Ranch Plaza ranks in the top 13th percentile of all shopping centers in the US and the top 18th percentile within California.