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465 S Arroyo BlvdPasadena, CA 91105
Whole Foods
Asset ClassRetail
Flagship A+ Location in San Gabriel Valley - Targeting the Demographics of Pasadena, South Pasadena, San Marino and La Canada
overview of deal

Overview

The Newmark Pacific Retail Capital Markets Team is proud to present the opportunity for qualified investors: the acquisition of Whole Foods’ flagship Pasadena location (the “Property”), located near the heart of Old Town Pasadena.

 

This flagship purpose-built Whole Foods represents a premier ±77,046 square foot NNN-leased investment opportunity, backed by a recent lease extension and fortress credit. The opportunity features approximately 12.5 years of firm lease term remaining, with near-term growth through scheduled 8% rental increases in 2027, plus three additional 5-year option periods, each with 10% escalations. This increase schedule ensures stable, predictable, and growing cash flow for investors, offering long-term security and income growth. This is the flagship Whole Foods that was customized for their use to serve their key customer base in the heart of the highly-desirable Pasadena/West San Gabriel Valley. The property is also strategically improved with its own dedicated loading docks, allowing Whole Foods/Amazon high-throughput loading and delivery to this strategic infill market, proximate to major arterials and highways.

 

The flagship Whole Foods Pasadena store is a core, generational investment with exceptional stability, growth potential, and enduring appeal within a premier Southern California market.

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Investment Highlights

  • Recently executed 10-year lease extension, providing a secure base term with an 8% rent increase in 2027
  • Best-in-class credit
  • Passive NNN investment with limited landlord responsibilities
  • Dense, affluent market — nearly 200,000 residents within a 3-mile radius, average household income ~$160,000
  • Pasadena has established wealth, a robust professional job market, and is the leading Tri-Cities market
  • Abundant on-site parking with 275 dedicated stalls
  • Strong candidate for a primary delivery hub in the Tri-Cities, supporting future sales growth and tenant stability
  • High barriers to entry and land constraints make the property irreplaceable and prohibitively expensive to replicate
  • Whole Foods has operated here for nearly 20-years, showcasing the long-term stability of this location
  • Growth in online grocery delivery services increases demand for large format, infill stores as distribution hubs — underscoring tenant’s long-term occupancy
  • Whole Foods is located adjacent to 555 Arroyo, a mixed-use development containing a 185,000 SF senior living facility and 135,000 SF medical office building
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465 S Arroyo BlvdPasadena, CA 91105

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Listing provided by Revere CRE