August 5, 2015
The net-lease retail market is stronger than ever, and now Downtown Los Angeles will get to experience some of that success. A Ross Dress for Less store is being marketed by CBRE for a buyer that wants to own the asset for this high-credit tenant.
The building, owned by a private investor, is just over 26,000 square feet and located at 2021 West Pico Boulevard. Ross has a 10-year triple-net lease on the building with options. About 55,200 cars are said to drive by the intersection where the retailer is located, and there are nearly 625,000 residents within a three-mile radius.
Ross, as well as other lower priced fashion retailers, such as TJX Cos., have performed very well since the recession.