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Shopping Strip

Saticoy Plaza

20103 Saticoy St, Winnetka, CA 91306

Listing Price: $31,100,000

Cap Rate
4.33%
Gross SF
75,049
Rentable SF
75,049
Price/Gross SF
$414.40
Lot Size
5.06 acres
Year Built
1985

Investment Overview

A unique opportunity to acquire a signalized corner value-add grocery anchored shopping center with a seasoned and stable mix of high-profile national and local tenants ideally situated on 5.06 acres of land in the West San Fernando Valley sub-market of Winnetka, CA. Marcus & Millichap has been selected to exclusively market for sale Saticoy Plaza, a 75,049 SF grocery-anchored shopping center situated on 5.06 acres of land ideally located on the NW signalized corner of Winnetka Avenue and Saticoy Street at 20103 – 20179 Saticoy Street in Winnetka, CA. Saticoy Plaza offers the ideal mix of national, regional, and local tenants, with 63% of the center occupied by national credit tenants. The center is anchored by Food 4 Less, which occupies 47% of the center. Other national tenants include 7-Eleven, Carl’s Jr., Popeyes Fried Chicken, Baskin Robbins, Metro PCS and Ace Cash Express. The center is comprised of a 4,003 SF free-standing single tenant Carl’s Jr. drive-thru building, a 2,500 SF Popeyes Fried Chicken free-standing single tenant drive-thru building, a 9,380 SF free standing building anchored by 7-Eleven, and additional 59,109 SF of in-line retail space, home to Food 4 Less and a seasoned mix of local tenants that serve the residents in the area. Saticoy Plaza is a high quality, well-maintained center that bene?ts from excellent visibility and frontage along two major West San Fernando Valley thoroughfares, strong surrounding demographics, high daily traf?c counts, excellent parking and easy ingress and egress. With well-located anchor space, multiple single-tenant free standing restaurants, and average in-line retail units that range in size between 840 SF and 3,300 SF, Saticoy Plaza offers limited tenant improvement costs between tenants and insulates the landlord against signi?cant risk at lease expiration. Saticoy Plaza has consistently outperformed its competition with high historic occupancy levels and strong and stable tenants. A majority of the tenants have successfully operated at Saticoy Plaza for many years, with 81% of the current tenant base operating at the center for over 5 years and 66% of the current tenant base operating at the center for over 10 years. Tenants have consistently thrived at this location, with an average occupancy term per tenant of nine years. Saticoy Plaza is currently 99% occupied, offering a stable and secure income stream with minimal downside and signi?cant upside. Current in-line rents average 28% below market. Food 4 Less pays approximately $0.73 per SF (base rent plus percentage rent), which is over 200% below market. Their sales volume is fantastic at this location, with total sales over $30 million. Saticoy Plaza’s central West San Fernando Valley location offers close proximity to all major freeways, airports, Downtown Los Angeles, the Westside and Warner Center. The San Fernando Valley is known as the world’s center for entertainment and the home of Walt Disney Company, Universal Studios, Warner Brothers, DreamWorks and Paramount Ranch and boasts 2.5 million residents with continued population growth projected. Immediate demographics are strong, with an average household income of over $92,000 and immediate population north of 490,000 people.

Investment Highlights

  • Grocery anchored center anchored by Food 4 Less
  • Tenants include Carl's Jr., 7-Eleven, Popeyes Fried Chicken, Baskin Robbins, and Ace Cash
  • In-line unit sizes range between 800 and 3,300 square feet – Ideal suite sizes to serve local and regional tenants

Exclusively Listed By

Listing Price: $31,100,000

Cap Rate
4.33%
Gross SF
75,049
Rentable SF
75,049
Price/Gross SF
$414.40
Lot Size
5.06 acres
Year Built
1985

Investment Highlights

  • Grocery anchored center anchored by Food 4 Less
  • Tenants include Carl's Jr., 7-Eleven, Popeyes Fried Chicken, Baskin Robbins, and Ace Cash
  • In-line unit sizes range between 800 and 3,300 square feet – Ideal suite sizes to serve local and regional tenants

Investment Overview

A unique opportunity to acquire a signalized corner value-add grocery anchored shopping center with a seasoned and stable mix of high-profile national and local tenants ideally situated on 5.06 acres of land in the West San Fernando Valley sub-market of Winnetka, CA. Marcus & Millichap has been selected to exclusively market for sale Saticoy Plaza, a 75,049 SF grocery-anchored shopping center situated on 5.06 acres of land ideally located on the NW signalized corner of Winnetka Avenue and Saticoy Street at 20103 – 20179 Saticoy Street in Winnetka, CA. Saticoy Plaza offers the ideal mix of national, regional, and local tenants, with 63% of the center occupied by national credit tenants. The center is anchored by Food 4 Less, which occupies 47% of the center. Other national tenants include 7-Eleven, Carl’s Jr., Popeyes Fried Chicken, Baskin Robbins, Metro PCS and Ace Cash Express. The center is comprised of a 4,003 SF free-standing single tenant Carl’s Jr. drive-thru building, a 2,500 SF Popeyes Fried Chicken free-standing single tenant drive-thru building, a 9,380 SF free standing building anchored by 7-Eleven, and additional 59,109 SF of in-line retail space, home to Food 4 Less and a seasoned mix of local tenants that serve the residents in the area. Saticoy Plaza is a high quality, well-maintained center that bene?ts from excellent visibility and frontage along two major West San Fernando Valley thoroughfares, strong surrounding demographics, high daily traf?c counts, excellent parking and easy ingress and egress. With well-located anchor space, multiple single-tenant free standing restaurants, and average in-line retail units that range in size between 840 SF and 3,300 SF, Saticoy Plaza offers limited tenant improvement costs between tenants and insulates the landlord against signi?cant risk at lease expiration. Saticoy Plaza has consistently outperformed its competition with high historic occupancy levels and strong and stable tenants. A majority of the tenants have successfully operated at Saticoy Plaza for many years, with 81% of the current tenant base operating at the center for over 5 years and 66% of the current tenant base operating at the center for over 10 years. Tenants have consistently thrived at this location, with an average occupancy term per tenant of nine years. Saticoy Plaza is currently 99% occupied, offering a stable and secure income stream with minimal downside and signi?cant upside. Current in-line rents average 28% below market. Food 4 Less pays approximately $0.73 per SF (base rent plus percentage rent), which is over 200% below market. Their sales volume is fantastic at this location, with total sales over $30 million. Saticoy Plaza’s central West San Fernando Valley location offers close proximity to all major freeways, airports, Downtown Los Angeles, the Westside and Warner Center. The San Fernando Valley is known as the world’s center for entertainment and the home of Walt Disney Company, Universal Studios, Warner Brothers, DreamWorks and Paramount Ranch and boasts 2.5 million residents with continued population growth projected. Immediate demographics are strong, with an average household income of over $92,000 and immediate population north of 490,000 people.

Exclusively Listed By

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