Investment Overview

Marcus and Millichap are pleased to present Cherry Avenue Strip Retail Center located in the city of Long Beach, California. The real estate is located at the signalized hard NWC of Cherry Avenue and East Wardlow Road where traffic counts exceed 64,000 cars per day. The property consists of 5,250 square feet of inline retail sitting on a .46-acre parcel. The tenant roster consists of 4 complimentary food use tenants all on NNN leases. With very limited restaurant competition in the trade area the property location benefits from strong morning and lunchtime business. The property is an ease of management asset that has not traded hands for 19 years. This location is dense urban infill and home to a multitude of aviation and commercial businesses. Located across from the subject property is Relativity Space Headquarters. This expansive facility spans over 1 million square feet and is situated on a 93-acre site that was formerly a Boeing C-17 Manufacuring plant. The Long Beach HQ is known as the “Wormhole”. The company employees 1,200 people across its various locations, including Long Beach, Cape Canaveral, Seattle, Washington D.C., and the Stennis Space Center in Mississippi. The Long Beach headquarters has the capacity to accommodate over 2,000 employees as the company continues to expand. Relativity has built and launched the world’s first 3D printed rocket, Terran 1, and is currently bringing to market Terran R, a reusable medium-to-heavy-lift launch vehicle. Their iterative development approach revolutionizes the process from design to flight, ensuring they can scale to meet customer needs. Located less than 1 mile from Long Beach Airport and the 405 Freeway, the location will continue to thrive as a destination for morning and lunchtime stops.