Investment Overview

Marcus & Millichap is pleased to present an exceptional add-value opportunity on the prime real estate corner of Victorville’s Seventh Street at La Paz Drive. This grocery-anchored offering with two retail strip centers is adjacent to a recently opened Superior Grocers (experiencing tremendous visitation counts) and formerly a 99 Cents Only Stores space that boasted a ranking of a Top 10% Store in the Nation according to CreditIntel in March 2023. The almost entirely renovated shopping center is also joined by a newly constructed Harbor Freight/Cali Beauty Supply and Western Dental and a strong performing Jack in the Box. Originally constructed with ten demisable spaces, the existing fully-occupied six-tenant rent roll provides great opportunity for an investor or a developer to reposition the shopping center. Most tenants are paying below-market rents and are on short term or month-to-month leases, creating great ?exibility for an owner to increase revenue with mark-to-market rents via various lease-up strategies—potential renovations or a full re-positioning may also be considered, including the addition of a single tenant outparcel building as appropriate. The premises, comprising a total of 14,987 square feet and heavily demisable, were built in 1972 and 1974 and are situated upon two separate parcels representing a total of 1.55 acres, split between a .53 acre and a .99 acre parcel. A shared access parking lot allows for a variety of uses within ample parking providing opportunity for additional structures to be built. Recent improvements to the building and parking lot were made during the construction of the Superior Grocers store, including the addition of an ADA accessible ramp and attractive landscaping. This is in addition to overall parking lot improvements completed by the 99 Cents Only store, a chain that recently closed all of its stores nationally, including at the subject shopping center. The shops are located within the larger Superior Grocers Center, which is a 111,206 square foot shopping center situated upon 9.32 acres of land with a total of 494 parking spaces. Located just off Interstate 15 at La Paz Drive, the Shops are within one of the dominant retail corridors of Victor Valley and are surrounded by other bustling shopping centers including national retailers such as Costco, Food 4 Less, and dd’s Discounts.