Desirable National Tenant: Little Caesars – 3rd Largest Pizza Chain in the U.S. – New Construction – The subject property is leased to Little Caesar Enterprises, Inc., dba Little Caesar’s, the third-largest pizza chain in the United States, behind Pizza Hut and Domino’s Pizza. The company operates and franchises 5,463 pizza restaurants in the United States and internationally in Asia, the Middle East, Australia, Canada, Latin America and the Caribbean. The new building is currently under construction.
Brand New 5 Year Net Lease – Minimal Landlord Responsibilities – Rent Growth – The new 5-year net lease is expected to commence in December 2018, and features 10% rent increases in the (4) 5-year option periods. The net lease requires minimal landlord responsibilities, offering an investor a passive income stream with solid rent growth.
Hard Corner Signalized Intersection – Major Commuter Corridor – Dense Infill Location – The subject property is situated on a hard corner signalized intersection along Telegraph Rd, offering outstanding signage and visibility to 26,000+ cars per day. Telegraph Rd is a major commuter corridor in the area, offering quick access to Interstate 5 just a few blocks from the site. Additionally, the property is located in a dense infill location, with nearly 62,000 households within a 3-mile radius of the site.
Located in the City of Pico Rivera – Minutes from Downtown Los Angeles – Business-Friendly City – The subject property is located in Pico Rivera, a city in Los Angeles County, California only 11 miles southeast of downtown Los Angeles. Pico Rivera is a thriving community that is home to a balanced mix of homes, businesses and recreational facilities.
The City of Pico Rivera was awarded the “Most Business-Friendly City in Los Angeles County” in 2016, reflecting its commitment to economic development, excellence in programs and services to facilitate business entry, expansion and retention, and availability of economic incentives for area businesses. It is the home of the US Corporate Headquarters for Aurora World (toys) and BakeMark (bakery ingredients), as well as top employers Bimbo Bakeries, Cintas and Southern California Material Handling.
Revitalized City – New Redevelopment – Site of New $110 Million Water Treatment Plant – There has been significant redevelopment in the city, with the opening of the Pico Rivera Towne Center, a 60-acre open-air shopping complex; Pico Crossing, a 2.79-acre shopping center; and, the Pico Rivera Village Walk, a $22 million, 12-acre shopping center located at the southwest corner of Whittier and Paramount boulevards.
The Water Replenishment District of Southern California recently completed a $110 million water recycling plant in Pico Rivera, built by J.F. Shea Construction, a Walnut-based developer. The plant is a giant step for Los Angeles County, which will no longer need water pumped from Northern California or the Colorado River in order to serve its 4 million customers.