Chapman Plaza is located at the signalized intersection of Chapman Avenue and Dale Street, just one block from Beach Boulevard in Stanton, CA. The property features strong exposure and prominent signage at the intersection. The property also benefits from strong historical occupancy and a diverse mix of restaurant and service-based tenants.
OneV Capital recently acquired this property and the team executed an aggressive capital improvement plan covering a number of areas including tenant and property signage, a full façade remodel, paint, and parking lot improvements. At acquisition, a number of tenants were on month to month leases, creating immediate access to upside. The property was acquired at a price to allow for consistent cash flow through the hold and repositioning period, resulting in the ability to add value whilst maintaining consistent returns for investors.
The Sale & Return
The OneV team listed this property for sale in late 2021. The team was able to secure all month to month leases and also renegotiate early extensions for some tenants. After a brief marketing period, the property generated multiple offers and eventually closed at list price with an all cash 1031 exchange buyer. The sale represented a return of over 70% after a hold period of just 1.5 years.