Location Summary

• Strong demand throughout this cycle has compressed vacancies to a historically low level of 3.8%. While retail centers in affluent neighborhoods have been driving demand throughout this cycle, the last year has primarily benefited the outlying parts of the metro, such as the Antelope Valley. Rent growth has been moderating as of late, yet here too the outlying parts of the metro have posted the biggest year-over-year growth rates. Retail development has been modest over the last four quarters, following a large wave of deliveries in the first half of 2017 that were matched with strong leasing activity. Investment activity has been stable over the last six quarters and at about the metro's historic average. Even as big box stores closed, their large spaces have been routinely snapped up by other retailers or non-traditional users of retail stores. Savvy shoppers have paved the way for discount retailers like 99 Cents Only, Dollar Tree/Family Dollar, dd's Discount, Five Below, and Fallas Paredeas, as well as Aldi, a discount grocery store. Gyms represented another group of active tenants, because the large vacant spaces left by retailers like Sears and Kmart offer the appropriate expansive floor plans. Academic institutions have even opened campuses in retail centers, with ample parking already in place to accommodate commuters.
• This is an incredible opportunity to own property along the (14) Freeway, adjacent to the on and off ramps. Located in the Antelope Valley Submarket, the zoning is wide-ranging which allows for a myriad of uses. See page xxx for links to all the permitted uses. Golden West Trailer Sales occupies approx. 3.73 acres paying $105,000 per year (NNN Lease). Their lease expires 10/1/2019. There is a possibility the Tenant can leave early if the Buyer prefers to use the property. The adjacent ~4.8 acres is available now. Buyer may use the available space or lease it out to a new tenant.