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L.A. Fitness - West Covina, CA

The Subject Property is a L.A. Fitness which is currently being built in West Covina, California. The site sits on Garvey Avenue, which has both ingress and egress to the 10 freeway (The Transcontinental Freeway). The site is the first major retail region adjacent to the 10 freeway for travelers commuting from the Pomona area, and sits among a sprawling and diverse collection of anchor retail tenants, malls, secondary retail tenants, hotels, and several restaurants.

 

In order to accommodate the new 45,000 square-foot gym, three restaurants had to be demolished and the surrounding parking lot is being repaved. The location will have excellent visibility from the 10 freeway and has direct access on and off the freeway. The site is only steps away from the off-ramps.

 

The subject property sits in a hugely populous area, with over 447,000 residents living in a 5-mile radius. Furthermore, the site is located just west of four hotels: Marriott, Hampton Inn & Suites, Holiday Inn and Best Western. Just north of the development is the Baranca School, which employs over 60 faculty and educates roughly 700 students in elementary and high school each year.

 

Perhaps the most attractive factor about the subject property is the wealth of national credit tenants in the immediate area. The site sits just south of IKEA, and just east of Eastland Center, one of the largest retail centers in the area. Eastland Center's national tenants include Walmart, Target, Bed, Bath & Beyond, Dick's Sporting Goods, Albertson's, Ashley's Furniture, Verizon Wireless, Dollar Tree, Petsmart and Party City. Restaurant tenants in the center include Bj's Brewery, Chili's, The Habit, Starbucks, Chipotle, QDoba, Menchies, Carl's Junior and Subway. Bank of America, Chase Bank and US Bank also call the center home, making it a one-stop-shop for residents in the area.

Additional Info

  • Address: : 848 South Barranca, West Covina, CA 91723
  • Price: : $15,934,000
  • Net Rentable Area: : 45,000
  • Lot Size (Acres): : 3.21 AC of 8 AC Lot
  • CAP Rate: : Call Agent
  • Price Per Sqft: : $372.53
  • NOI: : $922,000
  • Year Built: : 2013
  • Status: : SOLD