Apex Properties is pleased to present the opportunity to purchase Simple Fee interest of a 4.9 acre parcel located on the NE Corner of Alondra Blvd. and Valley View Ave. in the City of La Mirada, CA. The offering consists of two parcels – 15700 Valley View Ave. (APN: 8069-018-053) and 14241 Alondra Blvd. APN: 8069-018-054).
Both parcels are leased to a subsidiary of H & E Equipment Services, Inc. (NASDAQ: HEES). The current lease commencement date was April 1, 1999 with an original primary term of 30 years. The primary lease term expires March 31, 2029, with no options to extend. H&E Equipment Services, Inc. has 100% ownership interest in the entities that executed the lease.
In 2001 the master tenant entered into a sublease agreement with the operators of the Arco, AM/PM and Wendy’s for parcel #8069-018-053 (corner parcel). The rent paid by the subtenant(s) are unknown, but the primary sublease term expires concurrently with the master lease on March 31, 2029. The improvements of the corner parcel (subleased portion) belong to the sub-tenant.