|Lot Size||372,002 sqft|
This is an incredible opportunity to own property along the (14) Freeway, adjacent to the on and off ramps. Located in the Antelope Valley Sub-market, the zoning is wide-ranging which allows for a myriad of uses. The adjacent ~4.8 acres is available now. Buyer may use the available space or lease it out to a new tenant. 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-overyear 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 nontraditional 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 have also represented another group of active tenants.