AT&T and Western Dental
At-A-Glance
Sold September 2022
Sale Price: $4,495,000
Cap Rate: 5.8%
Represented: Seller & Buyer
Location: Lancaster, CA
Highlights:
- 2 freestanding pads, with AT&T and Western Dental
- Located Buyer prior to going to market
- Received multiple backup offers throughout marketing process
Please reach out for more information:
Tom Chichester / tom@BLVDreic.com / 714-318-3955
Nick D'Argenzio / nick@BLVDreic.com / 818-281-7893
Opportunity
Highlights
Two (2) freestanding buildings on long-term NNN leases
Strong/National Tenants - The subject property is leased to AT&T and Western Dental, both well known national tenants, creating security for the investor
Historically stable asset / Proven location - AT&T has been at this location since 2006 and recently signed a new 5 year renewal
Located within a successful Grocery (Coming Soon) and CVS anchored shopping center - Creating top tier customer draw and strong tenant synergy
Ideally located at signalized, hard corner intersection of W Avenue J and 20th Street W - Over 58,800 vehicles per day at the intersection
Future Upside / Flexibility - The two (2) freestanding buildings currently sit on one (1) parcel. The new investor may explore a subdivision potentially allowing for two (2) separate parcels, allowing the investor the flexibility to sell and/or refinance one or both properties in the future at lower cap rates and higher values - Ask Listing Agent for more details
Strong Demographics - There are over 150,000 people living within a 5-mile radius of the subject property
