Executive Summary

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The Neema Group of Marcus and Millichap is pleased to present 701 Huntington Drive, a rare NNN retail investment opportunity located on the hard, signalized corner of Huntington Dr & Shamrock Ave in the city of Monrovia. Currently occupied by Church’s Chicken, this can be either a value-add or long-term investment opportunity; the current lease expiration is December 2024 with two ten-year options to extend. This is a passive investment as the tenant is responsible for property taxes, insurance, and expenses; current rent is $57,960 annually with fixed 1.5% annual rent increases for the remainder of the lease term as well as the option periods. Leased and guaranteed by a Church’s Chicken corporate franchisor, Cajun Realty LLC, if the tenant extends the lease, there is long-term investment opportunity with fixed increases annually to hedge against inflation. If the tenant vacates at the expiration of the lease term, there will be a great value-add opportunity to rebrand the property and secure a quality tenant at market rent. 

This is a rare opportunity to purchase a quality Southern California corner location under a $2 MM price point. The property consists of a 20,673 SF parcel of land improved with 1,320 SF of quick food service with a drive-thru window. A highly desirable retail location with immediate retail synergy with the adjacent shopping center that includes national tenants such as 24-Hour Fitness, Ulta Beauty, Aldi, HomeGoods, O’Reilly Auto Parts, TJ Maxx, and Michael’s. Other restaurant tenant’s joining Church’s Chicken on nearby pad sites include: Taco Bell, The Coffee Bean, McDonalds, Sonic Drive-In, Original Tommy’s, Wienerschnitzel, Yoshinoya and Starbucks. In addition to retail, the subject property is ideally located within a highly dense residential neighborhood and is surrounded by millions of square feet of office and industrial assets. 

Area Overview

MONROVIA

All the warmth of Southern California and the advantages of a gorgeous natural environment unite to create a place that is at once beautiful, historic, cultural, economically diverse and inviting. Located 20 miles northeast of Los Angeles at the base of the San Gabriel Mountains, Monrovia is part of the San Gabriel Valley, just eight miles east of the City of Pasadena in Los Angeles County. 

This growing city of nearly 40,000 residents distinguishes itself from other communities with its dynamic small-town charm and collection of high-tech industry. A world of amenities is available here: everything from world-class cultural facilities to glorious recreational outlets to top-rated education and healthcare is available right at residents’ fingertips. 

Monrovia is ideally positioned to continue its trend for controlled growth. The city’s vibrant economy fosters enhanced job creation while a commitment to revitalization and development ensures that Monrovia maintains its attractive neighborhoods. Visitors are encouraged to experience all that Monrovia has to offer: a welcoming community, the brilliant California backdrop and the promise for a prosperous future. 

ARCADIA 

Arcadia was incorporated in 1903 and became a Charter City in 1951. It is an upper-middle class community of approximately 60,000 people in an 11.2 square mile area located 20 miles east of Los Angeles. The City government is “full-service” with its own Police Department, Fire Department and Library, and a City Council-City Manager form of government 

Arcadia is known for beautiful neighborhoods, warm character and a “community of homes” atmosphere. The City places great emphasis on preserving “green space” and its commitment to the environment is evidenced by the large population of healthy trees you will find around town. Arcadia has been designated a Tree City USA for seventeen consecutive years. 

Arcadians take pride in their well-established traditions and high standards. The Arcadia Unified School District is one of the most highly thought of in the State; high quality medical services are available locally; and an excellent assortment of recreation and leisure activities are offered for all ages. 

Arcadia has a broad commercial base with businesses ranging from the very small to the very large. Westfield Santa Anita is a popular regional mall; downtown Arcadia has seen a resurgence in popularity in recent years; south, west and north Arcadia all have thriving businesses; and many consider Santa Anita Race Track to be the finest facility of its type in the country. 

With respect for its heritage, appreciation of the present, and excitement about the future, Arcadia remains true to its motto of “Community of Homes” by maintaining a good balance of quality economic development that mixes harmoniously with its primarily residential nature. Arcadians take great pride in their community and the qualities associated with the City are not taken for granted. It is not by accident that Arcadia is referred to as a jewel among southern California communities.

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