Oak Park Shopping Center

INVESTMENT HIGHLIGHTS
 

Stabilized and Established High Quality Southern California Shopping Center 

• Excellent current (over 96.7%) and historical occupancy (69% of total square footage) has occupied the center for 8+ years
• In-place cap rate of 5.86% with upside through lease-up and upward trending rents
• All tenants on triple-net leases (including reimbursement for management fees) with rental increases and staggered lease expirations
• Extremely high volume Starbucks drive-thru pad on its own parcel – potential to spin off to lower basis
• Strong deposits at the Wells Fargo branch (approximately $110m) – one of the highest in the area
• Professionally managed with several recent capital improvements – low deferred maintenance
• Kids World (recently renovated and re-opened this year) averages over 1,000 people/weekend
• Cleo's Hair Salon is one of the top salon-spas in the County with over 200 customers/day and 120 employees

Strategic Retail Location with Significant Barriers to Entry

• Oak Park (Calabasas, Agoura Hills and Westlake Village adjacent) has an average household income of over $150K in a 1-mile radius
• Situated at signalized intersection of Lindero Canyon and Kanan Road (nearly 30,000 cars/day) 
• Extremely high barriers to entry limiting any future new development and competition
• Excellent ingress and egress with 5 access points (3 driveways on Kanan; 2 on Lindero)
• Delivered free & clear of debt – ability to finance at today’s historically low interest rates or purchase all cash