Daily Needs Retail Center for Sale in Ventura County

Wednesday, May 23, 2018

Update: This property is no longer available. Please visit our Property Search page for a current listing of available retail properties for sale.

HFF, on behalf of the owner, is offering qualified investors the opportunity to acquire Santa Paula Center, a 175,894-square-foot, core-plus, grocery- and drug-anchored community shopping center in Santa Paula, California. The property’s 94.8 percent current occupancy, which includes Vons supermarket and CVS Pharmacy, offers potential investors strong in-place cash flow with absolutely no competition in the trade area.

Santa Paula Center has an internet-resistant mix of uses, including grocery, home goods suppliers, entertainment, food and beverage and health and beauty services. Tenant performance at the center consistently outperforms national sale averages in one of the most trafficked parts of Santa Paula. The area has limited grocery availability, so Vons provides investors with long-term security and has outstanding sales performance at the center that is 37 percent above national sales, and the Starbucks within Vons is one of two national coffee locations in Santa Paula. Additionally, Regency Theatres is the only movie theater within 11 miles, making competition in the market non-existent and providing investors increased tenant stability. 

The retail center for sale is housed on 17.97 acres at 550-660 West Main Street in one of the most convenient and well-traveled regions within the city. It is situated between the main arterials of West Harvard Boulevard and West Main Street, which is one of the most trafficked areas in Santa Paula with a traffic count of more than 20,000 vehicles per day. Accessibility is enhanced via easy access to both the Peck Road and Palm Avenue exits off Highway 126, the main highway through Santa Paula.

Retail Property for Sale Investment Highlights

  • Grocery- and Drug-Anchored Investment with a Strong Internet-Resistant Tenant Mix:  Vons and CVS are top-tier operators, providing a recession resistant “daily needs” draw to the property, complementing the strong mix of national tenants at Santa Paula Center.
  • Strong Grocery-Anchor Sales:  Vons grocery store dominates the trade area and generates sales in excess of $625 per square foot, which is 37 percent above the national average.
  • Upside Potential Via Pad Development:  An investor has the opportunity to construct a freestanding pad on the site of a former 4,595-square-foot building at the main entrance to the center between Taco Bell, Chase Bank and Panda Express.
  • Low Retail Vacancy in Santa Paula and Limited Supply:  Santa Paula’s retail vacancy rate is only 1.3 percent, and, with less than 200,000 square feet of comparable retail space in Santa Paula, no product under construction and virtually no new development in the past 10 years, tenant demand at Santa Paula Center should continue to remain strong.
  • Secure Income Stream with Nationally Recognized Tenants:  The property will be approximately 95 percent occupied, which provides investors with stable cash flows and a secure investment since 30 percent of occupants are investment-grade tenants and 72 percent are nationally recognized tenants.

For more information on this commercial property for sale or other available retail properties, please contact Gleb Lvovich, Bryan Ley, or Daniel Tyner. Click here for our real estate investment sales search page.

Holliday Fenoglio Fowler, L.P., acting by and through Holliday GP Corp., a real estate broker Licensed with the California Department of Real Estate, License Number 01385740.

Photos:  Bob Fawcett / Peak 15 Photography

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