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20103-20179 Saticoy Street
Winnetka, CA 91306

Price: $31,100,000 Occupancy: 99%
Bldg SF: 74,049 SF Price/SF: $414
Land SF: 220,215 SF Parking Spaces: 268
Click to View Offering MemorandumClick to Print Offering Memorandum

Exclusively Listed by:
Brandon Michaels
(818) 212-2794
bmichaels@marcusmillichap.com
License # 01434685


Matthew Luchs
(818) 212-2727
matthew.luchs@marcusmillichap.com
License # 01948233


Steven Schechter
(818) 212-2793
Steven.schechter@marcusmillichap.com
License # 01089464

Price: $31,100,000
Bldg SF: 74,049 SF
Land SF: 220,215 SF
Occupancy: 99%
Price/SF: $414
Parking Spaces:  268
Property Type: Retail
Click to View Offering MemorandumClick to Print Offering Memorandum

Exclusively Listed by:
Brandon Michaels
(818) 212-2794
bmichaels@marcusmillichap.com
License # 01434685


Matthew Luchs
(818) 212-2727
matthew.luchs@marcusmillichap.com
License # 01948233


Steven Schechter
(818) 212-2793
Steven.schechter@marcusmillichap.com
License # 01089464

Investment Highlights

THE DOMINANT GROCERY ANCHORED CENTER IN THE IMMEDIATE SUBMARKET WITH 63% NATIONAL CREDIT TENANTS

 

  • Grocery anchored center anchored by Food 4 Less
  • Tenants include Carl’s Jr., 7-Eleven, Popeyes Fried Chicken, Baskin Robbins, and Ace Cash
  • In-line unit sizes range between 800 and 3,300 square feet – Ideal suite sizes to serve local and regional tenants
  • All of the non-anchor units are 3,300 SF or less resulting in limited tenant improvement costs between tenants
  • Diverse tenancy with largest tenant not including Food 4 Less occupying only 5% of the center leading to reduced risk of significant roll-over cost from any single tenant
  • 5.06 acres of land
  • Excellent parking with 268 surface parking spaces, a parking ration of 3.57 per 1,000 square feet
  • Well maintained, high quality shopping center
  • Excellent visibility and frontage along two major thoroughfares in the San Fernando Valley

 

IRREPLACABLE WEST SAN FERNANDO VALLEY SIGNALIZED CORNER LOCATION

 

  • Located at the Northwest signalized corner of Winnetka Avenue and Saticoy Street
  • Centralized West San Fernando Valley location – Close proximity to all major freeways, airports, Downtown Los Angeles, the Westside and Warner Center
  • Located just minutes from Warner Center, one of Los Angeles’ largest urban developments consisting of office parks, high rises, apartments, and shopping
  • High daily traffic counts along two major San Fernando Valley thoroughfares

 

SIGNIFICANT VALUE-ADD OPPORTUNITY

 

  • Food4Less currently pays $0.41 per square foot, which is significantly below market (additionally, tenant also pays percentage rent)
  • The space occupied by Food 4 Less (47% of the center) is over 200% below market
  • Significant re-positioning opportunity at lease rollover
  • Large underlying footprint of land creates a multitude of long term options

 

STABLE AND SECURE INCOME STREAM

 

  • 99% current occupancy, Saticoy Plaza has experienced historically high occupancy levels
  • Average nine-year term of occupancy per tenant
  • Less than 6.5% lease expiration annually over the next three years
  • Tiered lease expirations averaging 6.5% rollover over the next three years insulate against risk

 

TENANTS THRIVE AT SATICOY PLAZA

 

  • Food 4 Less, a tenant since 1979 averages $27.5 million a year in sales
  • Food 4 Less did over $30,000,000 in total sales volume between 11/1/19 – 10/31/2020
  • 81% of Saticoy Plaza’s tenants have been operating at this location for over five years and 66% of tenants have been at this location for over 10 years

 

STRONG DEMOGRAPHICS AND POPULATION DENSITY

 

  • Average household income exceeding $103,387 within a five-mile radius
  • Population upwards of 519,975 people within a five-mile radius 
  • 12,439 households within one mile of the subject proeprty
  • Strong local economy with significant job growth