30990 Russell Ranch Road, CA

30990 Russell Ranch Road is ideally located at the southwest signalized corner of Lindero Canyon Road and Russell Ranch Road in the city of Westlake Village, CA. The subject property is located three parcels east of the 101 Freeway off-ramp at Lindero Canyon Boulevard, and sits adjacent to a Residence Inn and directly across the street from The Four Seasons, Westlake Village, which is world renowned for its spa. In addition to multiple national retailers in the immediate area including Costco, Vons, Staples, Petsmart, Chipotle, Panda Express, Michaels and Wendy’s, there is a planned development for a Target-anchored shopping center directly behind the subject property.

 

30990 Russell Ranch Road is ideally located within the prime submarket of Westlake Village, a high-end community that offers an average household income of $153,295 within a five mile radius.

 

The subject property is a 2008 construction, 6,700-square foot, three-tenant, triple net retail building situated on 39,495 square feet of land. 30990 Russell Ranch Road is home to The Counter and 9021Pho, which is a sublease from Wolfgang Puck Worldwide, Inc., who guarantees the lease. Both tenants are on 10-year leases which expire in 2018. There is currently a 1,500-square foot vacancy.

 

The Counter is operated by a single-unit franchisee. 9021Pho is guaranteed by Wolfgang Puck Worldwide, Inc. Wolfgang Puck Worldwide operates and franchises the Wolfgang Puck Bistros, Wolfgang Puck Expresses, and Wolfgang Puck Cultural Center Cafes. Wolfgang Puck Worldwide also licenses Chef Puck’s name for a variety of consumer goods including kitchen wares, cookbooks, and food products.

 

The Counter is a high-end, fast casual restaurant chain in the United States, Australia, and Ireland offering custom topped gourmet burgers. Diners receive a clipboard to "build your own burger". There are over 312,120 possible topping combinations. The Counter was founded in Santa Monica, CA in 2003. The Counter launched its franchise program in 2006. Long-range projections call for as many as 400 to 600 U.S. locations. There are currently 38 locations worldwide.

9021Pho is a casual service restaurant inspired by Chef Kimmy Tang that offers a Vietnamese-centric menu with a French and California twist. They currently operate four locations throughout Southern California.

 

The 9021Pho lease is guaranteed by Wolfgang Puck Worldwide, Inc. The Wolfgang Puck companies are comprised of three separate brands: Wolfgang Puck Fine Dining Group; Wolfgang Puck Catering; and Wolfgang Puck Worldwide, Inc. (WPW), which includes the fast-casual restaurants and branded products.

 

30990 Russell Ranch Road is being offered for sale at $5,500,000, a 6.17 percent CAP rate at 77 percent occupancy, and $820.90 per square foot. Upon stabilization, the projected market CAP rate is 7.54 percent or better.

Additional Info

  • Address: : 30990 Russell Ranch Rd., Westlake Village, CA
  • Price: : $5,500,000
  • Net Rentable Area: : 6,700
  • Lot Size (Acres): : 39,495 SF
  • CAP Rate: : 7.54%
  • Price Per Sqft: : $820.90
  • NOI: : $414,726
  • Year Built: : 2008
  • Status: : Available

What Clients Are Saying                                     
 

"Lior Regenstreif is a professional broker that achieves real results for his clients. We purchased a transaction from a seller who had not sold a property in many years and wanted the highest price with no hassles. We were the ultimate buyer and Lior got his seller the price he wanted and made the process as smooth as possible."
Brian Fagan, Selective Real Estate Investments

Contact Us

NNN Deal
in association with Marcus & Millichap

16830 Ventura Blvd. Suite 100
Encino, CA 91436

Lior Regenstreif
First Vice President, Investments
Senior Director, National Retail Group
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Rebekah Zweiban Wallack

Senior Research Analyst
Special Projects Coordinator
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Toll Free: 888.NNN.DEAL
Phone: 818.907.9525
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