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JLL is pleased to offer for sale a strong repositioning opportunity at 11732 Rosecrans Avenue in Norwalk, CA (the “Property” or “Asset”). The Property is located on a 0.51-acre (22,427 square-foot) combined land parcel, including a vacant 8,100 SF retail building formerly occupied by Mega Shoe Factory with an adjacent parking lot.
- Increased retail leasing velocity within one-mile of the Asset has led to a 110 basis point decrease in retail vacancy over the past 12 months, creating a scarcity of vacant retail opportunities.
- The Property's freestanding nature and larger acreage is rare for the immediate sub-market, and when combined with the adjacent 29-space parking lot, investors will have a tremendous opportunity to capitalize on stellar retail demand tailwinds.
- The Asset will attract various freestanding storefront retail concepts that will benefit from the heavy foot traffic within the immediate neighborhood.
- With direct frontage to a rare five-point intersection, the Property draws a combined 74,900 VPD at the convergence of Rosecrans Avenue, Pioneer Boulevard, and San Antonio Drive.
- Strong retail market fundamentals within one-mile of the Property include over 4.1 million square feet of inventory with 3.7% annual market rent growth rate over the past five years headlined by national tenancy of GNC, Sprint, Taco Bell, Yogurtland, and FedEx.
- Over 129,800 workers contribute to a daytime population exceeding 259,000, encompassing the densely populated community within a three-mile radius of the Property.
- Situated directly between Los Angeles and Orange Counties, Norwalk has developed into a premier film destination that utilizes local landmarks, including Paddison Farm, Front Street, and unique residential pockets.
- Home to Metrolink and Metro Greenline stations, Norwalk has emerged as a vital regional transportation hub that’s served by the Santa Ana Freeway (I-5), San Gabriel River Freeway (I-605), and Century Freeway (I-105).