NETCO INVESTMENTS, INC., ANNOUNCES THE ACQUISITION OF A 22, 194 SQ FT VACANT BUILDING IN INGLEWOOD, CA
September 09, 2010 (PRLEAP.COM) Business NewsINGLEWOOD, CA- NetCo Investments, Inc., a Santa Monica, CA based retail real estate investment and development company is pleased to announce its acquisition of a vacant 22,194 sq ft building in Inglewood, CA. The property was purchased through a short-sale process with Chase Bank.
The subject Property is a 22,194 square foot building on approximately 1.54 acres that is a part of a larger 106,390 square foot shopping center anchored by a high volume and very successful CVS Drug Store and Kragen Auto Parts store.
The Property is located at the southeast corner of Market Street and Florence Avenue. Located in the heart of downtown Inglewood; the Property is walking distance from City Hall, Inglewood Police Department, Kaiser Permanente Hospital and various other medical and professional office buildings. The City of Inglewood is currently working with the Urban Land Institute to develop a master plan for Market Street, which will include mix-use retail, loft-style housing, dining and entertainment venues. In addition, a new MTA station is planned for the intersection of La Brea and Florence. According to City officials, construction is scheduled to begin in 2012. The new station will be a stop along the new Crenshaw/LAX Transit Line, which will take passengers directly to the LAX Airport. A MTA train is scheduled to stop every 8 minutes at this intersection.
NetCo Investments, Inc., acquired the Property on July 23, 2010 closing escrow with the building FULLY leased to dd's Discounts (a Ross Dress For Less concept). The lease was negotiated and executed in less than six weeks. dd's Discount is currently scheduled to open 1st Quarter of 2011.
NetCo Investments, Inc's business objective is to acquire, redevelop and reposition well located shopping centers and vacant buildings throughout the western states. The company is extremely hands-on with a proactive management style to ensure quality, value, and commitment to its investors, lenders, tenants, and the communities in which it invests.
For more information about this project or to submit an acquisition opportunity, please visit our website at www.netcoinvestments.com or call 310-998-8300.
NetCo Investments, Inc.
Phone: 310-998-8300 ext. 2