Description

Jones Lang LaSalle Americas, Inc. (“JLL”), as exclusive advisor, is pleased to present the opportunity to acquire the 100% fee simple interest in the Shops at Edgewater (the “Property”), a premier daily needs retail destination located along Highway 1 in beautiful Sand City, California.

The Shops at Edgewater is 100% leased to a high-performing mix of best-in-class tenants: ULTA Beauty, Panera Bread, Mancini’s Sleepworld, and Bank of America ATM. As an integral part of Edgewater on Monterey Bay, the shops serve as the center’s convenience cornerstone. ULTA Beauty & Panera Bread naturally complement the daily needs shopping at Target, Ross Dress for Less, and Lucky. The center is the primary essential retail destination for a growing residential community and regional visitors alike. The shops also benefit from exceptional visibility and regional connectivity in a vibrant coastal market off Highway 1.

This offering represents a unique opportunity to acquire a premier retail asset within a super-regionally drawing center in a dynamic coastal California submarket.

...

Attributes

Asking price

$10,200,000

Building area net

25,223 sf

Occupancy

100%

WALT

6.1 years

Parking spaces

101

Land area gross

1.99 acres

Year built

1996

Media

Investment highlights

Premier Retail Center in Dynamic Coastal Monterey Bay Submarket
Fully Leased to Best-in-Class Tenants with Recent Lease Extensions
Part of Super-Regionally Drawing Center Shadow-Anchored by Target, Lucky, Ross, HomeGoods, and PetSmart
Irreplaceable Location with DIrect Visibility from 83,300+ VPD on Highway 1
Proven Retail Submarket with Sub-2% Vacancy & Enduring Supply Constraints
Affluent Demographics Characterized by High Incomes & Consumer Spending