Retail Strip Center | Newport Beach, CA

Retail Strip Center | Newport Beach, CA

Retail Strip Center | Newport Beach, CA

5,000 SF, 4 Unit Retail Strip Center

When KNL Group took over management in February 2016  from the long time owners, the rents were 20% under market, NNN fees were not being charged to the tenants, the building facade exterior was in need of updating and the landlord was at a disadvantage due to the poorly written leases from the previous ownership.

To date, the annual rental has increased by nearly 25% in addition to the $18,000  in annual property taxes now being collected from the tenants. New multi-year leases are in place and the building exterior was completely renovated and the new skylights have been installed. Net change to the landlord is hands-free ownership and approximately $54,000  increase in net income.


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