The Village Center at La Crescenta

3231 Foothill Blvd. - La Crescenta CA 91214

LTV (Loan to Value)	65.00%	Current NOI	$0.00
Interest Rate	4.250%	Capital Rate	5.500%
Fixed Term	10 Years	Land Area	+/- 0.84 Acres
Amortization	25 Years	Lease Type	NNN
Loan Amount	$3,246,750.00	Property Type	Retail
Payment	$17,588.88	Property Lease	Shopping Center
Bulding Size	0 SF	Remaining Terms

Location Description

NNN Lenders is offering for sale to qualified investors a fee simple interest in The Village Center at La Crescenta, a multi-tenant retail building, shadow-anchored by Vons Supermarket on Foothill Boulevard in La Crescenta, California. The major tenant within the retail building is BBCN Bank, the largest Korean American bank in the U.S., with an asset base of $7.1 billion. The offering features a 9,600 SF retail shop building with nine tenant suites located on two floors in front of a Vons Supermarket at an exceptional corner of Foothill Boulevard and Pennsylvania Avenue in La Crescenta, CA. La Crescenta is an affluent mountainside residential community of approximately 20,000 residents with average annual household income exceeding $120,000. Foothill Boulevard is the major commercial thoroughfare through La Crescenta, La Canada, and Tujunga in northern Los Angeles County. The Village Center is accessible to the Foothill Freeway (I-210) via a four-way interchange at Pennsylvania Avenue one-half mile south of the property.

Highlights

Strong Anchor Tenants – Anchored by Vons (NAP) and BBCN Bank. Vons, a division of Safeway, Inc., is a market-leading…

Property Description

La Crescenta-Montrose is a census designated place that lies in two jurisdictions: portions of the community fall within unincorporated LA County and other portions, including this property, fall within the city limits of Glendale, CA, an incorporated city of 192,000 residents and the third-largest city in Los Angeles County, CA. According to the US Census Bureau, the La Crescenta-Montrose area measures about 3.4 square miles and the 2015 population is over 20,000 residents. La Crescenta-Montrose is bordered on the north by the Angeles National Forest, on the east by La Cañada Flintridge, on the south by Glendale, and the northwest by Tujunga. The Foothill Freeway (I-210) runs through the southern portion of La Crescenta, connecting the foothill communities to the cities of Pasadena and Los Angeles. Los Angeles County has a population of 9,818,605, making it the most populous county in the United States. Los Angeles County alone is more populous than 43 individual U.S. states. Los Angeles County is included in the Los Angeles-Long Beach-Anaheim, CA Metropolitan Statistical Area, the second-largest metropolitan area in the United States. The county is home to 88 incorporated cities and many unincorporated areas. At 4,083 square miles, it is larger than the combined areas of the states of Rhode Island and Delaware. The county is home to over a quarter of all California residents and is one of the most ethnically diverse counties in the country. The Property is located at the signalized intersection of Foothill Boulevard and Pennsylvania Avenue, with over 49,000 combined vehicles per day (VPD) passing the site. The center shares a parking lot with Vons Supermarket and is located near numerous other retailers including Bank of America, Office Depot, Walgreens, Chase Bank, Ralphs, US Bank, Rite Aid, Starbucks, O'Reilly Auto Parts, Game Stop and UPS among others.