Los Angeles County single-tenant retail property sells

NEWPORT BEACH, Calif., Oct. 26, 2021 -JLL Capital Markets announced today that it has closed the $6.58 million sale of a 15,120-square-foot, single-tenant retail building triple net leased to Walgreens in the Los Angeles County community of Whitter, California.

JLL marketed the property on behalf of the seller, Walwit LLC, a family trust. A private investor acquired the asset in an all-cash transaction.

Whittier is an upscale community nearly 18 miles southeast of downtown Los Angeles, and its strong demographics are favorable for a Walgreens retail location. There are 452,748 residents who earn an average annual household income of $118,977 within a three-mile radius of the property. Additionally, daily traffic counts at this location exceed 53,000 vehicles per day, and the property has three points of access.

The JLL Retail Capital Markets team representing the buyer was led by Director Daniel Tyner and Managing Director Gleb Lvovich.

"The sale of Walgreens in Whittier represents the third triple-net-leased drug store property we have closed in the last 30 days," Tyner said. "The market demand remains as strong as we've seen in recent years for these types of properties, and we expect that to continue into 2022."

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients - whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.