Toast Kitchen & Bar - Absolute NNN

For Sale

190 S State College Blvd, Brea, CA 92821

This Brea property for sale is located at 190 S State College Blvd. The current listed sale price for Toast Kitchen & Bar - Absolute NNN is $5,980,000. Toast Kitchen & Bar - Absolute NNN is situated on a lot that is 1.43 acre in size.

Contacts

broker

Matt Hardke

Graystone Capital Advisors

Property Details

  • Property Type Retail - Restaurant
  • Property Size 10,614 SF
  • Units 1
  • Lot Size 1.43 Acre
  • Additional Rent Contact for pricing
  • Parking Spaces Avail. 100
  • Property Tenancy Single Tenant
  • Date Updated Jun 12, 2024
A high-income earning consumer base, thriving tourism industry, and expanding economy provide robust structural demand for Orange County's shopping centers, neighborhood restaurants, and renowned regional malls. Retail space availability is trending near a decade-plus low as of the fourth quarter of 2023, at just 4.3%. A common refrain is that the best retail space has been leased. With inflation driving demand for discount retailers, category killers and discount grocery stores have driven recent big-box leasing. Experiential tenants, often fitness related, have also leased space recently. Absorption is limited due to a lack of available space and has run negative in recent quarters as tenants move in and out of spaces. In addition, investors are purposefully vacating tenants from older malls earmarked for redevelopment into alternative use. Construction of retail space in the market is negligible, and investors have drawn plans to scrap obsolete vacant retail space at a collection of malls across the county, most commonly adding multifamily housing units into what will become mixed-used properties. Many of these closed retail spaces slated for redevelopment stand vacant but unavailable for lease. This phenomenon has resulted in the oddity of market availability subverting vacancy. Defunct retail space will be removed from inventory as redevelopment projects progress. Demolitions will likely outpace deliveries in the years ahead as the development pipeline remains highly restrained. Orange County is developing retail space at the slowest pace relative to the largest 40 retail markets nationwide. Lease negotiating leverage resides with landlords due to the market's historically low space availability, strong demand for well-located assets, and high barriers to entry, although a dichotomy still exists between anchor and shop space. Rents have increased by 2.6% over the trailing year. Rents in central and coastal submarkets are up most substantially over the trailing year as rent growth further inland dissipated at a faster rate in 2023.Graystone Capital Advisors is pleased to exclusively present 190 S College Blvd in Brea, CA. Located at the 45,000 VPD intersection of State College Blvd and Birch Street, the property sits catty-corner to the vibrant Brea Mall. The recently remodeled 10,614 SF Toast Kitchen and Bar features an Absolute NNN lease from an experienced 8-unit operator. The property boasts a large 1.43 AC lot with 100 dedicated parking spaces, access along both State College Blvd and Birch Street, and visibility from the 57 Freeway with 257,941 vehicles passing per day. The property will further benefits from the planned expansion of The Brea Mall, with Simon Property planning a redevelopment of the 15.5-acre former Sears space. The project will deliver a vibrant mixed-use development consisting of five new commercial buildings for retail and restaurants, a five-story 380-unit market rate with some affordable housing apartments on top of a three-story parking structure, a two-story fitness center, and two outdoor gathering spaces - a plaza and a central green area. Popular tenants initially planned for the expansion include the world-renowned Din Tai Fung, Lifetime Fitness, Dick's Sporting Goods, Zara, and Philz Coffee. More new development immediately bordering the property includes a recently completed 138-room Residence Inn by Marriott and 653 luxury units at the Avalon Brea Place Apartments.

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Highlights

  • Trophy Location Brea Mall Hard Corner with 46,000 VPD
  • Immediately off the 57 Freeway with over 257,941 VPD
  • Experienced 8-unit Operator – High Performing Location with Absolute Net Lease
  • Large 1.43 AC Lot with 100 Dedicated Parking Spaces
  • Adjacent to New Construction 138 Room Residence Inn by Marriott and 653 Unit Avalon Brea Place Apartments
  • Immediate Proximity to New Simon Property Brea Mall Redevelopment Project |380 Unit Apartment Complex, Din Tai Fung, Lifetime Fitness, Dick's Sporting Goods and Many More!

Getting around

  • 88/100

    Walk Score ®

  • 65/100

    Bike Score ®

Powered by Walk Score ®

Location

  • City Brea, CA
  • Zip Code 92821
  • Market Orange County

Points of Interest

  • Buena Park

    6.77 miles

  • Mickey's Toontown Depot

    7.45 miles

  • Fantasyland Station

    7.54 miles

  • Tomorrowland Station

    7.57 miles

  • The Hub

    7.63 miles

  • New Orleans Square Station

    7.75 miles

  • Main Street Station

    7.79 miles

  • Buena Vista Street Stop

    7.88 miles

  • Anaheim Regional Transportation Intermodal Center

    7.91 miles

  • Hollywood East Stop

    7.92 miles

  • Blink

    0.19 miles

  • Volta Charging Station

    0.22 miles

  • Arco

    0.55 miles

  • 76

    0.56 miles

  • Chevron

    0.72 miles

  • USA Gasoline

    1.00 miles

  • Shell

    1.37 miles

  • Mobil

    2.01 miles

  • Sunnyside 76

    2.01 miles

  • ChargePoint

    3.36 miles

  • Parking Lot C

    0.20 miles

  • Glenbrook Club House and Greenbriar Park Parking

    0.32 miles

  • Lot B

    0.34 miles

  • Greenbriar Park Parkinglot

    0.39 miles

  • Parking Lot A

    0.42 miles

  • Lot A

    0.43 miles

  • Brea Park And Ride

    0.51 miles

  • Brea Community Center Parking Lot

    0.55 miles

  • Parking structure

    0.71 miles

  • Brea Baptist Church Parking

    0.80 miles

  • Toast Kitchen and Bar

    0.00 miles

  • Olive Garden

    0.11 miles

  • Jersey Mike's Subs

    0.21 miles

  • Red Lobster

    0.22 miles

  • Stone Fire Grill

    0.24 miles

  • Jamba

    0.25 miles

  • Red Robbins

    0.25 miles

  • Chipotle

    0.30 miles

  • California Pizza Kitchen

    0.31 miles

  • Rubio's

    0.37 miles

  • Macy's

    0.20 miles

  • JCPenney

    0.28 miles

  • Target

    0.29 miles

  • Nordstrom

    0.37 miles

  • Sprouts Farmers Market

    0.40 miles

  • Mother's Market

    0.41 miles

  • Trader Joe's

    0.87 miles

  • Ross

    0.96 miles

  • Walmart

    1.06 miles

  • Albertsons

    1.15 miles

In-Depth Research Available for this Property

Access more in-depth information about this property — including ownership, tenant details, property characteristics and transaction history, along with local market insights and much more — on CommercialEdge.

Contact Listing Broker

broker

Matt Hardke

Graystone Capital Advisors