Log In/Sign Up
Your email has been sent.
Sun Lakes Village 4 Retail Properties Offered at $17,442,933 CAD in Banning, CA
Investment Highlights
- Grocery Shadow Anchored Center with National and Regional Brand Operators
- Improving Returns – the NOI is expected to increase more than $125,000 (14%) upon stabilization and $352,000 (39%) over the expected hold period
- Dominant Retail Hub Location – Highland Springs Ave is the dominant retail street and hub in the immediate trade area
- 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 WALT
- Multiple Parcel “Spin Off” Opportunity – presents investors with the opportunity to spin-off portions in separate sales to reduce basis
Executive Summary
* 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!
* 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!
Property Facts
| Price | $17,442,933 CAD | Number of Properties | 4 |
| Price / SF | $400.52 CAD / SF | Individually For Sale | 0 |
| Cap Rate | 7% | Total Building Size | 43,551 SF |
| Sale Type | Investment | Total Land Area | 3.36 AC |
| Status | Active |
| Price | $17,442,933 CAD |
| Price / SF | $400.52 CAD / SF |
| Cap Rate | 7% |
| Sale Type | Investment |
| Status | Active |
| Number of Properties | 4 |
| Individually For Sale | 0 |
| Total Building Size | 43,551 SF |
| Total Land Area | 3.36 AC |
Properties
| Property Name / Address | Property Type | Size | Year Built | Individual Price |
|---|---|---|---|---|
|
Building 2
300 S Highland Springs Ave, Banning, CA 92220 |
Retail | 14,000 SF | 1990 | - |
|
Building 8
300 S Highland Springs Ave, Banning, CA 92220 |
Retail | 12,800 SF | 1990 | - |
|
Building 6
300 S Highland Springs Ave, Banning, CA 92220 |
Retail | 8,787 SF | 1987 | - |
|
Building 10
300 S Highland Springs Ave, Banning, CA 92220 |
Retail | 7,964 SF | 1990 | - |
1 1
1 of 7
Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
1 of 1
Presented by
Sun Lakes Village
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.