RETAIL, COMMERCIAL & INDUSTRIAL DIRTT: If You Have $23 Million Lying Around, You Could be the Perfect Buyer for the La Verne Courtyard Real Estate Center
Two spaces are still available in La Verne Village in La Verne.
LA VERNE, California, September 9, 2017 — Here are some first observations about commercial space in La Verne. Despite the folksy Mayberry RFD charm of La Verne’s downtown, rents are usually higher on the Foothill corridor passing through town, at least for Class A space. Merchants like traffic, and there’s more of it on Foothill than on D Street.
Yet prices on the Boulevard vary widely. Gateway Pointe, anchored by Vons (remember, when we had three Vons stores) commands about $2.90 to $3.25 sf.mo. But across the street to the north, at Heritage Plaza (heritage is Realtor speak for really old), you can get leases for as low as $1.50 sf/mo. At least, that’s the list price. Maybe there’s an unpublished price?
Nearly every center has a few openings, but they seem to be filling up — not at the pace of a Rancho Cucamonga or Fontana, two commercial hot spots, according to Maggie Gonzalez (with Progressive Real Estate Partners), but they are attracting attention from mom and pops looking to open service-type businesses. Maggie is also excited about a new 23,000 sf new construction project at Foothill and Baseline across from the Mobil station and car wash that will be ready for delivery in the spring.
D Street Square is for lease.
Asked to describe what she meant by “service” businesses, she ticked off ventures like donut shops, taquerias, salons, boba tea shops, poke shops, dental offices, coffee shops, noodle shops, barber shops, fitness studios and barbershops.
If you’re looking to open a traditional retail store (clothing, gift), you’re living in the wrong century.
Is anyone selling churros or shave ice downtown yet? Here’s your chance.
Maggie Gonzalez, Broker Affiliate, Progressive Partners
Now for some prices:
FOOTHILL CORRIDOR
FOR SALE
La Verne Courtyard
2204-2278 Foothill Blvd.
Sub-type: Neighborhood Center
Anchors: Aldi and Orchard Supply
$23.7 million
Gross Leasable Area: 84,368 sf
Price/sf – $280.91
Built in 2000
Bill Asher, Corona Del Mar, Hanley Investment Group
844.585.7684
FOR LEASE
Gateway Pointe
1207-1263 Foothill Blvd.
Sub-type: Speciality Center
3 Spaces Available: 1207/1209, 1263, 1257
Anchors: LA Fitness, Starbucks, IHOP
Gross Leasable Area: 16,496 sf
$2.90-$3.25 sf/mo
Dale Pedroche, Mar Investments
626.281.1128
Heritage Plaza
1487-1497 Foothill Blvd.
Sub-type: Strip Center
Anchors: Dollar Tree, Crunch Fitness, Wells Fargo
1 Space: 1493
Gross Leasable Area: 900 sf.
Rental Rate: 1.75 sf/mo.
Built: 1974
Ara Der Sarkissian, Los Angeles
323.874.5100
Heritage Plaza
1487-1497
Sub-type: Strip Center
Anchors: Dollar Tree, Crunch Fitness, Wells Fargo, CVS
1 Space: 1431
Gross Leasable Area: 2,000 sf./mo.
Rental Rate: 1.50 sf.
Maggie Gonzalez, Progressive Real Estate Partners
909.230.4500
La Verne Town Center
2244-2278 Foothill Blvd.
Sub Type: Retail
Anchor: Target
4 Spaces: B2, A5, 1, 4
Total Space Available: 14,638 sf.
Rental Rates: Negotiable
Buillt: 1977
Mina Elliott, New Hyde Park, NY, Kimco
310.284.6000 x117
La Verne Shopping Center
2497 C Foothill Blvd.
Sub-type: Neighborhood
5 Spaces Available: D, E, F, B1, C
Total Space Available: 11,890 sf.
Rental Rates: 1.50 sf./mo.
Gary Mitten, Westhilll Management Co.
310.395.7272
La Verne Village
2855 Foothill Blvd.
Type: Retail
2 Spaces Available: A, B103
Total Space Available: 3,880 sf.
Rental Rates: Negotiable
Built: 2013
Fred Encinas, CBRE
909.945.2339
1131 Foothill Blvd.
Unit 1145 F
Sub-type: Strip Center
Gross Leasable Area: 1,000 sf
Rental Rate: $2.50 sf/mo.
Maggie Gonzalez, Progressive Real Estate Partners
909.230.4500
DOWNTOWN
D Street Square
2079 Bonita Ave.
Sub-type: Restaurant/Office
2 Spaces
Total Space Available: 10,166 sf.
Rental Rates: $2 – $2.40 sf/mo.
Lot size: 34,936 sf
Built: 1965
Tommy Gibson
626.610.1309
2701 Third Street – 1 Space
Anchor: Aoki Japanese Restaurant
Sub-type: Street Retail
Gross Leasable Area: 400 sf
Rental Rate: 950/mo.
$2.38 sf/mo
Lot size: 2,860
Julia Choi
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