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.