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2701-2711 E Olympic Blvd 22 225 pi² Commerce de détail Immeuble Los Angeles, CA 90023 16 300 445 $ CAD (733,43 $ CAD/pi²) 6,28% Taux de capitalisation
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Faits saillants de l'investissement
- Corporate lease to Eurostar, Inc. (dba WSS), 100% company operated store fleet
- Significant Tenant Capital Inv.: Tenant’s recent investment in property upgrades highlights the strategic importance of the location to its operations
- Large ±1.37-acre (±59,730 SF) infill corner parcel with a ±22,225 SF building and 71 surface parking stalls — rare for central LA retail
- Investment-grade credit support. Owned by DICK’S Sporting Goods (NYSE: DKS), rated BBB (S&P) / Baa2 (Moody’s)
- Over a decade of operating history at this location and recent extension to 2030
- Significant development upside: Opportunity Zone, TOC Tier 3, ED1-eligible, Qualified Census Tract
Résumé de l'annonce
Colliers is pleased to present the opportunity to acquire 2711 E. Olympic Blvd, a well-located single-tenant retail asset in Los Angeles, immediately adjacent to the Arts District and other Downtown Los Angeles neighborhoods. The Property consists of a freestanding ±22,225-square-foot retail building situated on a signalized corner ±1.37-acre parcel, offering both durable in-place income and long-term covered-land optionality.
The Property is leased to WSS, operated by Eurostar, Inc., a California corporation. WSS is a value-oriented footwear and apparel retailer with a store model well suited to dense, urban infill trade areas. Importantly, WSS operates a 100% company-owned store fleet, making this a corporate lease rather than a franchise lease. Eurostar/WSS was acquired by Foot Locker in 2021, and Foot Locker was subsequently acquired by DICK’S Sporting Goods, positioning WSS within the portfolio of a publicly traded, investment-grade retail platform (S&P BBB / Moody’s Baa2).
The tenant’s lease runs through January 31, 2030, with three (3) five-year options to extend, offering potential tenancy through 2045. The option periods include rent increases of approximately 9%, 10%, and 10%, respectively, providing contractual rent growth throughout the renewal periods.
Under the modified gross lease structure, the landlord is responsible for real estate taxes and property insurance.
The Property is further supported by its location within an Opportunity Zone and Qualified Census Tract, as well as its TOC Tier 3 designation and ED1 eligibility. These attributes provide meaningful long-term redevelopment optionality for residential or mixed-use development in a supply-constrained Los Angeles submarket.
With 71 on-site parking stalls, strong access, and a dense surrounding population base, the Property offers investors stable in-place income today with substantial optionality over the long term.
The Property is leased to WSS, operated by Eurostar, Inc., a California corporation. WSS is a value-oriented footwear and apparel retailer with a store model well suited to dense, urban infill trade areas. Importantly, WSS operates a 100% company-owned store fleet, making this a corporate lease rather than a franchise lease. Eurostar/WSS was acquired by Foot Locker in 2021, and Foot Locker was subsequently acquired by DICK’S Sporting Goods, positioning WSS within the portfolio of a publicly traded, investment-grade retail platform (S&P BBB / Moody’s Baa2).
The tenant’s lease runs through January 31, 2030, with three (3) five-year options to extend, offering potential tenancy through 2045. The option periods include rent increases of approximately 9%, 10%, and 10%, respectively, providing contractual rent growth throughout the renewal periods.
Under the modified gross lease structure, the landlord is responsible for real estate taxes and property insurance.
The Property is further supported by its location within an Opportunity Zone and Qualified Census Tract, as well as its TOC Tier 3 designation and ED1 eligibility. These attributes provide meaningful long-term redevelopment optionality for residential or mixed-use development in a supply-constrained Los Angeles submarket.
With 71 on-site parking stalls, strong access, and a dense surrounding population base, the Property offers investors stable in-place income today with substantial optionality over the long term.
Faits sur la propriété
Type de vente
Investissement
Type de propriété
Taille du bâtiment
22 225 pi²
Classe d’immeuble
C
Année de construction
1956
Prix
16 300 445 $ CAD
Prix par pi²
733,43 $ CAD
Taux de capitalisation
6,28%
Revenu net d’exploitation
1 023 693 $ CAD
Location
Unique
Hauteur du bâtiment
1 étage
Coefficient d’occupation des sols de l’immeuble
0,37
Taille du lot
1,37 AC
Zone de développement économique
Oui
Zonage
LAC2-1-CUGU
Commodités
- Lot de coin
- Intersection avec signalisation
Moyennement accessible à pied
70/100
Exceptionnellement adapté aux voitures
100/100
Transports en commun efficaces
80/100
Plutôt accessible en vélo
50/100
Principaux détaillants à proximité
Impôts fonciers
| Numéro de lot | 5170-019-020 | Évaluation des bâtiments | 4 530 459 $ CAD |
| Évaluation du terrain | 2 669 480 $ CAD | Évaluation totale | 7 199 939 $ CAD |
Impôts fonciers
Numéro de lot
5170-019-020
Évaluation du terrain
2 669 480 $ CAD
Évaluation des bâtiments
4 530 459 $ CAD
Évaluation totale
7 199 939 $ CAD
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2701-2711 E Olympic Blvd
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