No Tenant Specified

Armstrong Garden Centers Glendale

5816 San Fernando Rd, Glendale, CA 91202

Listing Price: $1,650,000

Cap Rate
4.45%
Tenant Name
Armstrong Garden Centers
Years Remaining On Lease
3.70
Guarantor
Corporate Guarantee
Rentable SF
1
Lease Type
Ground Lease
Rent Per Square Feet
$87,606.00

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire partial fee-simple ownership with an absolute NNN ground lease with Armstrong Nursery located in Glendale, CA. The offering consists of fee simple ownership in three parcels totaling approximately 19,944 square feet ground leased to Armstrong Garden Centers. Armstrong Garden Centers is a strong regional operator and essential business which has been operating at the site for over 36 years. With only four years remaining on the term of the lease and zero options for the tenant to extend their lease an investor can negotiate market rent and favorable terms in the near future. Also, the zoning of the parcels is IMU-R one of the highest density mixed-use zoning allowances in Glendale. Within a five mile radius Armstrong Garden Centers Glendale has a total population of over 550,000 people with the average household income over $99,000. The site benefits from attractive frontage along the major thoroughfare of San Fernando Road with over 19,000 cars per day and close proximity to both Golden State 5-FWY as well as the Ventura 134-FWY. As it sits in one of Glendale’s most active business corridors Armstrong is also walking distance from Walt Disney Imagineering, Consumer Products and Dream Works campuses as well as less than 1.5-Miles from Downtown Glendale, The Americana on Brand and the Glendale Galleria.

Investment Highlights

  • Essential Business – Open, Paying Rent and Thriving During Pandemic
  • Excellent 1031 Exchange Upleg – Offers Several Value-Add Scenarios for a Buyer
  • Mixed-Use Re-development Potential Due to Existing Zoning – Zoning IMU-R
  • Years Remaining w/ Zero Options to Extend
  • Corporate Guaranteed by Armstrong Garden Centers – 36 Year Operating History at Site
  • Zero Landlord Responsibilities – Absolute NNN w/ Annual Increases Tied to CPI
  • Possible Assemblage Opportunity for Remaining Interest – Contact Brokers for More Information

Exclusively Listed By

No Tenant Specified

Armstrong Garden Centers Glendale

Listing Price: $1,650,000

Cap Rate
4.45%
Tenant Name
Armstrong Garden Centers
Years Remaining On Lease
3.70
Guarantor
Corporate Guarantee
Rentable SF
1
Lease Type
Ground Lease
Rent Per Square Feet
$87,606.00

Investment Highlights

  • Essential Business – Open, Paying Rent and Thriving During Pandemic
  • Excellent 1031 Exchange Upleg – Offers Several Value-Add Scenarios for a Buyer
  • Mixed-Use Re-development Potential Due to Existing Zoning – Zoning IMU-R
  • Years Remaining w/ Zero Options to Extend
  • Corporate Guaranteed by Armstrong Garden Centers – 36 Year Operating History at Site
  • Zero Landlord Responsibilities – Absolute NNN w/ Annual Increases Tied to CPI
  • Possible Assemblage Opportunity for Remaining Interest – Contact Brokers for More Information

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire partial fee-simple ownership with an absolute NNN ground lease with Armstrong Nursery located in Glendale, CA. The offering consists of fee simple ownership in three parcels totaling approximately 19,944 square feet ground leased to Armstrong Garden Centers. Armstrong Garden Centers is a strong regional operator and essential business which has been operating at the site for over 36 years. With only four years remaining on the term of the lease and zero options for the tenant to extend their lease an investor can negotiate market rent and favorable terms in the near future. Also, the zoning of the parcels is IMU-R one of the highest density mixed-use zoning allowances in Glendale. Within a five mile radius Armstrong Garden Centers Glendale has a total population of over 550,000 people with the average household income over $99,000. The site benefits from attractive frontage along the major thoroughfare of San Fernando Road with over 19,000 cars per day and close proximity to both Golden State 5-FWY as well as the Ventura 134-FWY. As it sits in one of Glendale’s most active business corridors Armstrong is also walking distance from Walt Disney Imagineering, Consumer Products and Dream Works campuses as well as less than 1.5-Miles from Downtown Glendale, The Americana on Brand and the Glendale Galleria.

Exclusively Listed By

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