x
By submitting, you're allowing YAFC Team to email you regarding available listings. You can unsubscribe anytime.

x

Bob’s Discount Furniture, Visalia, CA

Bob’s Discount Furniture

Price $6,972,000
Cap Rate 7.10%
NOI $495,000
Lease Term 10 Years
Lease Type Net, with tenant responsible for its pro-rata share of taxes, insurance, and maintenance, excluding the roof and structure
Rental Increases 10% Rental Increases Every Five (5) Years
Year Built 2020
Building Size 33,000 SF
Lot Size 2.55 Acres (111,121 SF)
Status Available
Lead Broker Information Vincent Aicale
Cushman & Wakefield
415.690.5522
vince.aicale@cushwake.com
CA RE License #01728696

Ryan Forsyth
Cushman & Wakefield
415.413.3005
ryan.forsyth@cushwake.com
CA RE License #01716551

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

10-YEAR NET LEASE WITH CORPORATE GUARANTY
» Leased to Bob’s Discount Furniture for 10 years and guaranteed by BDF Acquisition Corp.
» 10% rental increases every five years in initial term and option periods, providing a hedge against inflation
» Limited landlord responsibilities, presenting an ideal investment opportunity for an outof-area investor

INFILL LOCATION IN NEW REGIONAL SHOPPING CENTER DEVELOPMENT
» Prime location in The Grove at Packwood Creek, Visalia’s newest retail development, featuring Sportsman’s Warehouse, along with approximately 247,900 square feet of additional retail space
» Excellent location just off of Mooney Boulevard, Visalia’s primary retail corridor
» Part of the highly successful Packwood Creek retail centers, tenanted by major national retailers, including Target, Lowe’s, Best Buy, PetSmart, Michaels, Pier 1 Imports, and Guitar Center

PRIME LOCATION IN REGIONAL SHOPPING HUB WITH LARGE CUSTOMER BASE
» Visalia is the largest city between Fresno and Bakersfield and has a trade area of approximately 749,750 people
» Population of 144,112 within a five-mile radius of the property
» Directly adjacent to a high-volume Costco, which draws an estimated 1.4 million customers annually from a significantly wide radius, greatly increasing the property’s customer base

NEW 2020 CONSTRUCTION
» High-quality construction scheduled to be completed in 2020
» Built to tenant’s exact specifications, demonstrating long-term commitment to the location
» Features latest store designs and concepts



Property Description

The property is located in The Grove at Packwood Creek, a new regional power center development featuring Sportsman’s Warehouse, along with approximately 247,900 square feet of additional retail space. Located just off of Mooney Boulevard, Visalia’s primary retail corridor, The Grove at Packwood Creek is part of the successful Packwood Creek Centers. The adjoining Packwood Creek shopping center is Visalia’s largest power center, featuring major tenants including Target, Lowe’s, Best Buy, Michaels, Kirkland’s, Pier 1 Imports, and many others. Additionally, the property is directly adjacent to Costco, which draws an estimated 1.4 million customers annually from a significantly wide radius, greatly increasing Bob’s Discount Furniture’s customer base. Other major shopping centers in the nearby area include Visalia Mall, anchored by Macy’s and JCPenney, and Sequoia Plaza, anchored by Walmart and Burlington Coat Factory.

The property benefits from its prime location within a regional shopping hub. The property is supported by robust demographic, with a population of 144,112 within a five-mile radius. Additionally, as the largest city between Fresno and Bakersfield, Visalia serves as a regional trading center for an estimated 749,750 people living within the Tulare, Kings, southern Fresno, and northern Kern counties.

Contact Us About This Property

JOIN OUR
EMAIL LIST
SUBSCRIBE
Receive Our Latest Single and Multi-Tenant Listings
close-link