8510-8530 S Figueroa St
Los Angeles, CA 90003

Pegasus Investments is pleased to present for sale a triple-net leased retail center and single-tenant drive-thru building in the heart of Los Angeles. This is a rare opportunity to acquire property at one of the busiest intersections in the city, with over 300,000 cars per day on the freeway and over 80,000 cars per day at the signalized intersection. The property is located south of Downtown Los Angeles, east of the new LA Rams' stadium / Hollywood Park redevelopment and immediately adjacent to the 110 Freeway off-ramp at the intersection of Figueroa and Manchester. The Popeyes Chicken drive-thru is net-leased to a successful franchisee with 9 years remaining on the lease and more than 30 years of operating history at this location. Several strip center tenants are month-to-month with significantly below market rents, providing an investor achievable upside and rental growth. The new NNN lease recently signed at the retail center with TitleMax, Inc., a major national tenant, illustrates the strong tenant demand in this immediate trade area. The strip center was substantially redesigned in 2015 and is ready for a new owner to improve rental rates. The location just off the freeway exit ramp and on the hard signalized corner of two major retail corridors, Figueroa and Manchester, provides excellent visibility and vehicular access. Additionally, there are several bus stops at the intersection generating constant pedestrian traffic at the shopping center. As the population and density in this neighborhood continue to grow (over 11% increase since 2000), and with the improved commercial activity and traffic generated by downtown development and the new stadium and surrounding projects, this property is positioned to be a generational asset with long term appreciation potential.