24 Hour Fitness 2180 Lincoln Ave

Lee & Associates - Pasadena has been retained by the owner as the exclusive marketing advisor for the disposition of the multi-tenant mixed-use buildings, The Lincoln Crossing, located at 2180-2220 Lincoln Ave, Altadena, CA 91001. The property consists of two separate buildings totaling 54,892 rentable square feet on a single parcel of land totaling approximately 2.22 acres. The combined occupancy for the entire development is 95%, consisting of thirteen (13) tenants. There are two (2) vacant suites comprising 5% or approximately 2,625 SF.
The corner building located at 2180 Lincoln Ave is a three-story building totaling ±37,000 square feet 100% occupied by 24Hr Fitness. The second building located at 2200-2220 Lincoln Ave is a two-story building consisting of street-level retail space with second floor residential and office space. All retail tenants are on triple net leases (NNN) in which they are responsible for reimbursing for their prorata share of real estate taxes, property insurance, and common area maintenance. The residential tenants are all on gross annual leases. The landlord is responsible for managing common area expenses as well as repairs and replacement of the roof and structure. The property provides a low-risk, low-management investment opportunity, while still providing risk diversification.
Lincoln Crossing located in the heart of Altadena, California, which is just north of Pasadena. This area has experienced significant growth in recent years with constant new commercial and residential developments. The property is surrounded by dense residential neighborhoods, with over 262,000 residents within a three-mile radius, which allows the tenants a strong, neighborhood client base. This investment opportunity provides a unique opportunity for an investor to own a well-maintained property in an excellent location, which is a proven asset class demonstrating a durable financial resilience in today’s economic environment.