2080 California Avenue, Sand City, CA, 93955, US

Shops at Edgewater

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.

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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