* 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