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Hertz, Fremont, CA

Hertz

CA, United States

Price $1,907,000
Cap Rate
NOI
Lease Term 15 Years (2.75 Years Remaining)
Lease Type
Rental Increases 2% Rental Increases Annually
Year Built 1975
Building Size 2,729 SF Total: 1,326 SF Car Rental Facility and 1,403 SF Car Wash
Lot Size 0.75 Acres (32,877 SF)
Status Sold
Lead Broker Information Michael T. Yuras, CCIM
Executive Managing Director
415.481.0788
michael.yuras@cushwake.com
CA RE License #01823291

Investment Highlights

CORPORATE, SINGLE-TENANT ASSET
» Leased to The Hertz Corporation (NYSE: “HTZ”)
» Hertz is the largest car rental company in the U.S.
» Recent lease renewal, demonstrating tenant’s commitment to the location
» Tenant is out of lease options, providing potential for upside in rent growth or redevelopment opportunity

PRIME INFILL BAY AREA LOCATION
» Located along a busy thoroughfare with excellent access and visibility to 35,000 vehicles per day
» Population of over 320,000 within a five-mile radius of the site
» Located in a commuter-heavy infill location within the Bay Area, with significant residential developments proposed and under construction
» Surrounded by major national and regional retailers

RAPIDLY GROWING, AFFLUENT COMMUNITY WITH ROBUST DEMOGRAPHICS
» Average household incomes well over $100,000 within one-, three-, and five-mile radii
» Fremont is the fourth largest city in the Bay Area and the 16th largest city in California

DIRECTLY ACROSS FROM “ARTIST WALK”
» 6.8-acre mixed-use urbanistic retail and residential community
» 29,300 SF of ground floor retail, planned weekend farmer’s market, and community center for events, discussion, and art appreciation
» 185 apartment units, adding 300+ full-time residents to the area
» Expected completion in Q2 2017

Click Here to Download Offering Memorandum


Property Description

SOLD

The property is located along a major commercial thoroughfare that bisects and runs the length of the city of Fremont, with excellent visibility and access to 35,000 vehicles per day along Fremont Boulevard. The property is located just off the intersection of Fremont Boulevard and Thornton Avenue, which experiences a traffic count of 29,000 vehicles per day. Both Fremont Boulevard and Thornton Avenue provide convenient access to Interstate 880, a heavily-traveled freeway with 211,000 vehicles per day. Major tenants in the nearby area include Target, Safeway, Bed Bath & Beyond, Macy’s, Raley’s, Sears, and many others.

Additionally, “Artist Walk,” an anticipated 6.8-acre mixed-use urbanistic town center project, is under construction directly across Fremont Boulevard to the north of the site. The project features 185 apartment or condominium units over street level retail and is slated for a 2017 completion. It will mirror a “main street” look and will add 300+ fulltime residents to the immediate community. “Artist Walk” will include a weekend farmer’s market with art shows and small musical events and will house “Artist Place”, a community center for events, discussion, and art appreciation. This is one of several projects in the immediate area that involve the development of new residential units to meet the demand of the Bay Area’s hot housing market.

Interstate 680 is approximately two miles from the site and accessible via Fremont Boulevard/Washington Avenue. The existing Fremont BART Station is roughly two miles to the southeast, and the new BART station, Warm Springs Station (presently under construction), is roughly one and a half miles to the south.

Contact Us About This Property

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