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Grocery Outlet, Valley Springs, California

Grocery Outlet

Price $7,231,000
Cap Rate 5.25%
NOI $379,620
Lease Term 15 Years
Lease Type Net, with Tenant Responsible for All Taxes, Insurance, and Roof, and Nonstructural Maintenance
Rental Increases 10.5% Rental Increases Every Five (5) Years
Year Built Q4 2019
Building Size 18,000 SF
Lot Size 2.86 Acres (124,582 SF)
Status Available
Lead Broker Information Ryan Forsyth
Cushman & Wakefield
415.413.3005
ryan.forsyth@cushwake.com
CA RE License #01716551

Vincent Aicale
Cushman & Wakefield
415.690.5522
vince.aicale@cushwake.com
CA RE License #01728696

Michael T. Yuras, CCIM
Cushman & Wakefield
415.481.0788
michael.yuras@cushwake.com
CA RE License #01823291

Scott Crowle
Senior Director
415.604.4288
scott.crowle@cushwake.com
CA RE License #01318288

Investment Highlights

RARE NET LEASE TO STRONG GROCERY TENANT
» Long-term, 15-year lease with four, five-year option periods
» Net lease provides ideal passive investment for an out-of-area investor
» 10.5% rental increases every five years, providing a hedge against inflation
» Grocery Outlet (NASDAQ: “GO”) is the nation’s largest extreme value grocery retailer, with more than 320 locations and over $2.29 billion in annual revenue
» Grocery Outlet’s recent IPO raised net proceeds of approximately $399.6 million, about $150 million more than initially expected
» Grocery Outlet is continuing its expansion nationally, with 32 new stores expected to open by year-end 2019

HIGH-TRAFFIC LOCATION IN PROMINENT RETAIL AREA
» High-traffic location in prominent retail area, with excellent visibility and access to 11,300 vehicles per day
» Located just one block away from the intersection of State Route 26 and State Route 12, the primary intersection in Valley Springs
» Surrounded by a healthy mix of local and regional retailers, as well as several national tenants

CENTRAL LOCATION NEAR COMMUNITY AMENITIES AND TOURIST ATTRACTIONS
» Located in downtown Valley Springs
» Within walking distance of Valley Springs Elementary School, which has a total enrollment of 493 students
» Minutes from several recreational areas, including the award-winning La Contenta golf course, as well as the three recreational reservoirs around Valley Springs
» Surrounded by affluent residential neighborhoods, with an average household income of $95,128 within a three-mile radius

NEW 2019 CONSTRUCTION
» High-quality construction, scheduled to be completed in Q4 2019
» Features latest Grocery Outlet store design and concepts
» New building, limiting near-term deferred maintenance or capital costs



Property Description

The property is strategically located on State Route 26, just one block away from the primary intersection in Valley Springs, and has excellent visibility and access to 11,300 vehicles per day. Located in the city’s primary retail area, the property is surrounded by a healthy mix of local and regional retailers, as well as several national tenants, including O’Reilly Auto Parts, Ace Hardware, Dollar General, AutoZone, CVS, Mar-Val Food Stores, Starbucks, Burger King, and many others.

Centrally located in downtown Valley Springs, the property is close to important community amenities and popular recreational areas. The property is within walking distance of Valley Springs Elementary School,
which has a total enrollment of 493 students. Several recreational areas are just minutes from the property, including the award-winning La Contenta golf course, as well as the three recreational reservoirs surrounding Valley Springs. Additionally, the property is surrounded by residential neighborhoods, which will be served by Grocery Outlet. The area boasts affluent demographics, with an average household income of $95,128 within three miles of the property.

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