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Features & Property Description:
Lease Commencement Date: 12/12/2008
Lease Expiration Date: 01/31/2029
17-Year Ground Lease remaining
Southern California (Ventura County) location - Adjacent to several national retailers including Target, Kohl's, Michaels, T.J.Maxx, Dick's Sporting Goods, PETCO, Staples, etc.
Average Household Income in Excess of $122,000 / 17%+ Projected Population Growth over the next five years
The subject property is an approximately 12.77 acre gross and 11.22 net rentable acres, unimproved parcel currently ground-leased to Home Depot U.S.A., Inc. There are 17 years remaining on the lease with 10% rent increases every five years. The lease provides for three fixed 10-year renewal options. Home Depot currently does not have plans to develop the parcel. The lease is guaranteed by Home Depot U.S.A., Inc., a wholly-owned subsidiary of The Home Depot, Inc. Home Depot U.S.A.
Located at the gateway to the City of Moorpark, the subject property features excellent exposure along Highway 23 and Highway 118, two of the area’s dominant traffic arteries with daily traffic counts in excess of 40,000 vehicles. The site is situated adjacent to Moorpark Marketplace, a 358,000-square foot power center anchored by Target, Kohl’s, Smart & Final, Michaels and T.J.Maxx. Other national retailers located in the immediate area include Dick's Sporting Goods, PETCO,
Staples, Famous Footwear, In-N-Out Burger, Del Taco, Panda Express, Baja Fresh, Denny's and Bank of America. The largest employer in Moorpark, Custom Sensors & Technologies, with over 1,200 employees, is also positioned directly across the street. This affluent area boasts average household incomes in excess of $122,000. As one of the most desirable communities in Los Angeles, the City of Moorpark is rapidly developing. Over the past ten years, the City’s growth rate was over 19% and is expected to grow by over 17% within the next five years. Located approximately forty minutes from Downtown Los Angeles, Moorpark offers easy access to all communities of the greater Los Angeles area
CITY OF MOORPARK
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Bruce Hamous, CCIM Vice President 805 277 4023 BHamous@naicapital.com DRE License #01073432 |
2555 Townsgate Rd. ,
Suite 320 Westlake Village, CA 91361 tel 805 446 2400 fax 805 446 2401 www.naicapital.com |
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