Retail Space For Lease @ 911 W Foothill Blvd

Shops @ Sprouts Claremont – a 100% leased ±9,226 square foot commercial center in Claremont

100% Leased to 3 NNN Tenants – All three leases are NNN, offering investors ease of management and a diverse income stream.

Anchored by Sprouts Farmers Market – Sprouts creates a “daily needs” draw and provides cross-shopping traffic for the center.
Sprouts has operated at the site since 2007 with sales estimated at $17M annually, which is nearly $750/SF and approximately 30% above the average Sprouts location in California (Source: Nielson).

Freshly Paved Parking Lot – The subject property’s parking lot was repaved in April 2022 leaving no known upcoming capital expenditures.

“Harvard of the West” – Affectionally known as the City of Trees and PhDs, Claremont is one of Southern California’s highest educated and most affluent suburbs

Strong Foundational Income from Petco – Reported 22% growth in EBITDA over 2021, added 800,000 net new customers in Q4 2021, and has invested heavily into bridging the gap between online and in-store sales with same-day delivery (shipped from store) and curbside pickup.

Staggeringly Low 1.3% Retail Vacancy Rate – Claremont boasts one of the lowest retail vacancies rates in the nation at 1.3%, well below the LA County retail vacancy rate of 5.2% (Source: Costar). This arguably reduces vacancy risk while also creating an environment primed for future growth in rental rates. The subject property is a part of a larger 86,500 SF shopping center that is 100% occupied.

Strong Income Foundation from Petco – Unleashed by Petco is guaranteed by Petco (NASDAQ: WOOF) and accounts for 54% of the center’s base rent, offering strong foundational income from a well-known credit tenant. Petco’s stock recently rallied after announcing a partnership with the publicly traded pet app, Rover. This location is the only nationally branded pet store in the City of Claremont.

Well Maintained by Institutional Ownership – The asset is owned and maintained by one of Southern California’s most prominent retail landlords. The property received a full remodel in 2010 including anew façade and roof. This space offers accomodations for: neighborhood center.