300 S Highland Springs Ave
Banning, CA 92220
Sun Lakes Village · Retail Property For Sale · 43,551 SF Total

* Grocery Shadow Anchored Center with National and Regional Brand Operators – Sun Lakes Village represents a rare opportunity to acquire a grocery shadow anchored center in Southern California with a synergistic mix of national, regional, and local anchor, inline and pad tenants, including CosmoProf, Spectrum, Waba Grill, Postal Annex, Sally Beauty Supply, Purpose Financial, Baskin Robbins, and Quest Diagnostics as part of the owned property with Albertson’s, Hobby Lobby, Marshalls, PetSmart, Boot Barn, Big 5, US Bank, Carl’s Jr., Chipotle, and others as co-tenants in the larger center

* Stabilized Center with Upside – At 93% occupancy and with long-term tenants in place, Sun Lakes Village boasts stable tenancy with 3.57 years of weighted-average lease term remaining (WALT) and an immediate upside opportunity through the lease-up of 2,993 SF of vacancy in one remaining suite

* Improving Returns – Through the lease-up of vacant space, below-market rents rolling to market, and embedded rental escalations, the Net Operating Income is expected to increase more than $125,000 (14%) upon stabilization and $352,000 (39%) over the expected hold period with a 3.4% compound annual growth rate (CAGR)

* Multiple Parcel “Spin Off” Opportunity – With its 4 parcels, Sun Lakes Village presents investors with the opportunity to spin-off portions in separate sales to reduce basis and increase returns

* Dominant Retail Hub Location – Highland Springs Ave is the dominant retail street and hub in the immediate trade area, proving the viability of Sun Lakes Village as a retail property and location. In addition to the tenants within Sun Lakes Village, adjacent retailers include Walmart Supercenter, The Home Depot, ALDI, Ross Dress for Less, HomeGoods, Best Buy, Petco, Kohls, In-N-Out Burger, and many other national and regional retailers - this is THE location for retail in Banning!