Portfolio

The Fig Collection at Highland Park

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Key facts

Building Area Gross

Portfolio description

JLL has been exclusively retained by Ownership to offer the opportunity to acquire The Fig Collection at Highland Park, CA – a portfolio of three properties totaling 41,283 square-feet with retail, multi-housing, and office uses. The Properties include 5711-5713 N. Figueroa Street (two retail suites), 5715-5717 N. Figueroa Street (two office suites above three retail suites and a basement floor music studio space), and 5900-5908 N. Figueroa Street/111 S. 59 Ave (four retail suites and 12 newly renovated apartment units adjacent to a catering service building). Located in the trendy and desirable neighborhood of Highland Park, the Properties are positioned with excellent visibility on N. Figueroa Street, trafficked by 23,000 VPD. The Fig Collection offers investors the opportunity to acquire a generational collection of assets with stable cash flows and strong rent growth along the main thoroughfare of Los Angeles’ fastest evolving and highly coveted submarket, Highland Park.

Investment highlights

DIVERSIFIED REAL ESTATE INVESTMENT OPPORTUNITY

Spanning across three asset classes, the portfolio offers investors the opportunity to acquire stable properties with a diverse tenant base.

Specialized suites with considerable amount of tenant capital invested into the spaces indicate strong commitment to their Highland Park

locations.


STABLE CASH FLOWS WITH SUBSTANTIAL CONTRACTUAL RENT GROWTH

The buildings are collectively 100% leased to stable, well-performing tenants that offer significant levels of contractual lift. Two spaces feature

tenants with rent steps ranging from 7% to 18% over the initial two years of our analysis. The combined retail and office portions offer a

combined weighted average remaining lease term of 6.2 years, not including tenant options.


EXPANDING RESIDENTIAL POPULATION

With 595 units either recently coming available or soon to be developed, the expanding residential population in Northeast Los Angeles is likely

to drive demand for retail and office in the desirable Highland Park neighborhood. The area stands to benefit from macroeconomic trends that

continue to push people further from urban cores as residents seek dwellings with more space and place less weight on office proximity.


SHIFTING DEMOGRAPHICS

The neighborhood of Highland Park has seen rapid revitalization in recent years reflected in rising incomes and local housing prices. Average

household incomes in a 3-mile radius have climbed to over $106,000. In September 2021, Highland Park home prices were up 27.9% year-over year,

selling for a median price of $1.1M. Over the last 10 years, Highland Park home prices have seen gains greater than 126%.


PROXIMITY TO TRANSPORTATION

The Properties are located along the 110-Freeway between Pasadena and Downtown Los Angeles, offering a daily traffic count north of 105,000

vehicles. Each are positioned within 10 minutes of both Downtown’s and Pasadena’s growing employment hubs, with over 500,000 and 74,000

jobs, respectively. The Metro Gold Line stop is immediately adjacent to two of the properties and within one block of 5900 N Figueroa Street,

providing access into DTLA within 15 minutes.


IRREPLACEABLE HIGHLAND PARK LOCATION

The Fig Collection is located on N Figueroa Street (23,000 VPD), Highland Park’s main thoroughfare which hosts a variety of trendy retail and

restaurants. With a Walkscore of 93, the street sees over 1.7 million estimated annual visitors within the 3-block destination spanning between

the subject properties.


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List View
Map View
The Fig Collection at Highland Park (4 Properties)
5711-5713 N. Figueroa
Los Angeles, United States
5715-5717 N. Figueroa Street
Los Angeles, United States
5900-5908 N. Figueroa
Los Angeles, United States
111 S. 59 Ave
Los Angeles, United States
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Last Updated Date: 29 Oct 2021

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