Repositioning and Redevelopment Opportunity for Sale in City of Industry

Thursday, January 3, 2019

HFF, on behalf of the owner, is offering qualified investors the opportunity to acquire the former Sears space at the Puente Hills Mall, a 176,069-square-foot box space that includes a 12,343-square-foot outparcel strip center located in the commercial hub of City of Industry, California. The offering allows for an immediate redevelopment opportunity for the former Sears box along with an outparcel shops pad that contains a portfolio of high-volume retailers that includes Starbucks, Jimmy John’s, Five Guys Burgers and Fries and California Fish Grill and benefits from the first-class location off the 60 Freeway along S. Azusa Avenue. 

The retail property for sale is strategically located right off the freeway where the CA-60 meets Azusa Avenue offering excellent street frontage and visibility to the 55,000 cars that pass the property daily. The CA-60 is a major east-west thoroughfare connecting Los Angeles with the Inland Empire and benefits from 220,000 cars passing daily. Accessibility is further enhanced with a traffic signal that provides left hand turn access to the subject property.

Retail Center for Sale Investment Highlights

  • Immediate Redevelopment with Rare In-Place Cash Flow:  Extremely rare opportunity to acquire more than 13 acres that includes 176,059 square feet of vacant space within a premier Los Angeles submarket with cash flow from a vibrant outparcel strip center.
  • Parcelization Potential:  The Class A strip center pad provides a future investor the potential to immediately grow NOI by parcelizing the property and removing tax leakage from the vacant former Sears building. The property includes a strong national tenant roster including Starbucks, Five Guys Burgers and Fries, Jimmy John’s, and California Fish Grill on long-term leases. Furthermore, a potential investor can sell the highly liquid strip center (once parcelized) and significantly lower their basis in the property.
  • Coveted Commercial Property Environment:  City of Industry is home to more than 3,000 businesses as a result of its beneficial tax incentives and proximity to freeways, rail lines and airports. The city is dedicated to helping businesses grow and offers a wide range of facilities that help attract businesses to the area that have a desire to be located within its boundaries.
  • Superior Demographics:  It is estimated that there are over 3,000 businesses established in City of Industry generating total annual sales of over $31 billion dollars. With more than 151,000 people and average household incomes exceeding $90,000 within a three-mile radius, the City of Industry is unanimously referred to as the economic hub of the San Gabriel Valley and a critical contributor to Southern California’s labor market.

For more information on this retail center for sale or other commercial real estate properties for sale, please contact Daniel Tyner  or Gleb Lvovich  in HFF’s Orange County office. Click here to search our real estate investment sales listings.

Holliday GP Corp. ("HFF") is a real estate broker licensed with the California Department of Real Estate, License Number 01385740.

By Topics