Investment Highlights
Rare Opportunity to Acquire a Generational Shopping Center in Norwalk
Recent Grocery Conversion - The Superior Grocers was recently renovated and converted from a Numero Uno Market.
Attractive Structure and Land Basis - Subject Property consists of three (3) separate buildings totaling 45,477 sq. ft. on over 3.5 acre of land.n
Strong Grocery Anchor - Superior Grocers is one of the largest independent grocery chains in Southern California.
All Tenants are NNN - The current leases in-place are NNN allowing for full reimbursement of triple net expenses and management fees.
Tenants Paying Below Market Rent - Existing blended rents of $14.65 PSF NNN are well under market for comparable retail properties.
Executive Summary
CBRE is pleased to exclusively offer for sale the opportunity to acquire Crawford Plaza, a ?45,000 sq. ft. highly established grocery-anchored shopping center in the City of Norwalk. The asset is hitting the market for the first time since it was originally developed, presenting an exceptionally rare investment. With long-standing, high-occupancy histories, the tenant mix consists of regional and national tenants, creating a synergistic neighborhood center. Anchored by Superior Grocers, Crawford?s Plaza remains a highly attractive asset priced below replacement cost with significant value-add upside. Currently occupied by a mix of daily needs, restaurant, grocery, and medical tenants, Crawford?s Plaza offers the opportunity of substantial rental upside with rates that are below market for the sub-market. Furthermore, the asset is located in a dense residential and commercial neighborhood in Norwalk with the immediate area containing over 258,483 residents within a 3-mile radius. Situated at the signalized intersection of Rosecrans Ave. and Studebaker Rd. directly east of the 605 Freeway on-ramp, the corner sees north of 56,839 cars per day of traffic. The offering allows a unique opportunity for an incoming investor to acquire a pride of ownership asset with immense upside.
