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Ross & Dollar Tree, Bakersfield, CA

Ross & Dollar Tree

Price $7,205,000
Cap Rate 5.75% return
NOI $414,303
Lease Term Various
Lease Type Various
Rental Increases Various
Year Built 2017
Building Size 36,715 SF
Lot Size 3.2 acres (139,365 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

100% LEASED TWO-TENANT RETAIL ASSET WITH STRONG CORPORATE LEASES
» Long-term leases for both tenants
» Ross Stores, Inc. (NASDAQ: “ROST”) is an S&P 500, Fortune 500, and Nasdaq 100 company and has an “A-” credit rating from Standard & Poor’s and an “A2” credit rating from Moody’s
» Dollar Tree, Inc. (NASDAQ: “DLTR”) is a Fortune 500 company, operating more than 15,000 stores and rated “BBB-” by Standard & Poor’s

HIGH-TRAFFIC LOCATION WITH IMMEDIATE FREEWAY ACCESS
» Excellent visibility and access to 48,234 vehicles per day directly in front of the property on Olive Drive
» Immediate access to U.S. Route 99, which experiences a high traffic count of 89,000 vehicles per day

ANCHOR STORES IN PRIME RETAIL LOCATION
» Property anchors Olive Plaza, a shopping center which features a strong mix of local and national tenants, including Bank of America and Boost Mobile
» Olive Plaza is located between to signalized intersections on Olive Drive
» Close to major national retailers like Big Lots, Aaron’s, Rite Aid, Starbucks, and more
» Minutes from large shopping centers featuring Walmart, Target, Home Depot, Hobby Lobby, Burlington, Tractor Supply, Smart & Final, and many others

STRONG CUSTOMER BASE WITH ROBUST DEMOGRAPHICS
» Several schools are close to the property, including San Lauren Elementary School (407 students), Discover Elementary School (883 students), Olive Drive Elementary
School (548 students), and Centennial High School (1,992 students)
» Near several industrial regions, with 107,542 daytime employees working within a five-mile radius
» Surrounded by densely populated residential neighborhoods, with 194,793 people living within five miles of the property
» Close to Meadows Field Airport, the main airport for the Bakersfield area and one of two international airports in the San Joaquin Valley



Property Description

The property is on Olive Drive, with excellent visibility and access to 48,234 vehicles per day directly in front of the property. Olive Drive provides immediate access to U.S. Route 99, which experiences a high traffic count of 89,000 vehicles per day. The property is located in Olive Plaza, a shopping center which features a strong mix of local and national tenants, including Bank of America and Boost Mobile. Located in a strong retail area, the property is close to major national retailers like Big Lots, Aaron’s, Rite Aid, Starbucks, and more. The property is also just minutes from large shopping centers featuring Walmart, Target, Home Depot, Hobby Lobby, Burlington, Tractor Supply, Smart & Final, and many others.

The property is centrally located near schools, major employers, and residential neighborhoods. Several schools are close to the property, including San Lauren Elementary School (407 students), Discover Elementary School (883 students), Olive Drive Elementary School (548 students), and Centennial High School (1,992 students). The property is near several industrial regions, with 107,542 daytime employees working within a five-mile radius. Additionally, the property is surrounded by densely populated residential neighborhoods, with 194,793 people living within five miles of the property.

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