Grocer Anchored Value-Add Retail Opportunity

Located at the signalized Highland Ave and Del Rosa Ave intersection with exposure to ±44,819 cars per day.Progressive Real Estate Partners is pleased to present the opportunity to acquire a grocery anchored, value add retail center located at 1470 E Highland Avenue. The property is positioned adjacent to a top 25% performing Stater Bros that draws approximately 1.1 million annual visitors (Placer.ai), providing steady daily traffic and strong consumer demand. With access from both Highland Avenue and Del Rosa Avenue, a signalized intersection carrying ±44,819 CPD, the center benefits from exceptional visibility and convenient ingress and egress. The ±9,948 SF retail center, with existing suite sizes ranging from ±1,200 SF to ±2,500 SF, is currently 54% occupied and offers meaningful upside through the lease up of the remaining vacancies, including a ±2,100 SF space and a ±2,520 SF space, both of which can be demised into smaller units. At stabilization, assuming the remaining vacancy is leased at an average rate of $1.85/SF/month, the investment achieves a 10.20% pro forma cap rate inclusive of a 5% vacancy factor.