Westgate Plaza Retail FOR SALE


Riverside, CA - La Sierra
$11,706,000 USD
949-725-8473
, Riverside, CA for Sale
$11,706,000 USD
Retail - FOR SALE
1/7
null | 6.7% Cap Rate

Westgate Plaza
Riverside, CA
La Sierra


HIGHLIGHTS

  • Long Term, “Essential” Anchor Tenants
  • High Stability Asset – Strong historical occupancy at the property with 10 tenants totaling 16,920 SF (31% of the leased GLA) occupying the property f
  • Near-Term Upside Opportunity – With two vacant suites totaling approximately 8,433 SF, lease-up of this space provides a near-term upside opportunity

OVERVIEW

* Long Term, “Essential” Anchor Tenants – Anchored by Dollar Tree on a brand new 10-year lease (over 9 years remaining) with four 5-year options and Curl Fitness on a long term, 10-year lease (over 6 years remaining) * Dollar Tree, a Fortune 200 Company, operates over 16,590 stores across 48 states and 5 Canadian provinces. Stores operate under the brands of Dollar Tree, Family Dollar, and Dollar Tree Canada *Curl Fitness is a rapidly expanding high-end fitness studio with 6 locations currently open and 4 new stores opening soon in Southern California * High Stability Asset – Strong historical occupancy at the property with 10 tenants totaling 16,920 SF (31% of the leased GLA) occupying the property for 10+ years and 6 tenants totaling 11,213 SF (20% of the leased GLA) occupying for 25+ years, demonstrating a recession resistant asset with high tenant demand * Near-Term Upside Opportunity – With two vacant suites totaling approximately 8,433 SF, lease-up of this space provides a near-term upside opportunity to significantly increase NOI and expand upon an already excellent tenant roster * Deep Discount to Replacement Cost – Priced at just $184 PSF, Westgate Plaza will trade significantly below its estimated land-inclusive replacement cost estimated to exceed $300 PSF

ASK ABOUT THIS PROPERTY

949-725-8473

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.

949-725-8473

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.