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ARCO Ground Lease, Redding, CA

ARCO Ground Lease

Redding, CA

Price $3,889,000
Cap Rate 4.50%
NOI $175,000
Lease Term 15 Years
Lease Type Absolute NNN Ground Lease, with Tenant Responsible for All Taxes, Utilities, Insurance, and Maintenance, Including Roof, Structure, and Parking Lot
Rental Increases 10% Rental Increases Every Five (5) Years
Year Built 2018 (Under Construction)
Building Size CALL FOR DETAILS
Lot Size 1.16 Acres (50,530 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

Ken Noack, Jr.
Senior Managing Director
916.569.2384
knoack@ngkf.com
CA RE License #00777705

Investment Highlights

NEW 15-YEAR ABSOLUTE NNN GROUND LEASE WITH SCHEDULED RENTAL INCREASES
» New 15-year NNN ground lease with corporate guaranty from BP (NYSE: “BP”)
» 10% rental increases every five years, providing a hedge against inflation
» No landlord management, ideal for an out-of-area investor

HIGH-TRAFFIC LOCATION WITH IMMEDIATE FREEWAY ACCESS
» Located just off of the signalized intersection of Churn Creek Road and South Bonnyview Road, which has a combined traffic count of 47,120 vehicles per day
» Immediate access to Interstate 5, the main freeway through the region, with a traffic count of 60,000 vehicles per day
» Outparcel to shopping center with freeway-visible digital pylon signage

EXCELLENT LOCATION IN RAPIDLY GROWING SOUTH REDDING RETAIL MARKET
» Neighborhood is experiencing explosive growth, with more than 400,000 square feet of new retail space planned in the immediate area
» Outparcel to Churn Creek Marketplace, a 19-acre shopping center development anchored by a Save Mart grocery store and including additional restaurant and retail space
» Directly across from River Crossing Marketplace, a 25-acre retail development anchored by Costco
» Across from planned 232-acre gaming complex, featuring a 140,000 square foot casino, a 250-room hotel, an event and convention center, and an additional 25,000 square feet of retail space
» Ideally situated to capture the large, underserved population in the south Redding trade area

NEW 2018 CONSTRUCTION
» Built by tenant at tenant’s expense, demonstrating long-term commitment to the location

Click Here to Download Offering Memorandum


Property Description

The property is conveniently located just off of the signalized intersection of Churn Creek Road and South Bonnyview Road, which has a combined traffic count of 47,120 vehicles per day. The property enjoys immediate access to Interstate 5, the main freeway through the region, with a traffic count of 60,000 vehicles per day. The property is outparcel to Churn Creek Marketplace, a 19-acre shopping center development anchored by a Save Mart grocery store and including additional restaurant and retail space. Churn Creek Marketplace is directly across from River Crossing Marketplace, another retail development located on the other side of Interstate 5. The 25-acre development will be anchored by Costco, which is relocating from its other site in north Redding and expanding its square footage by 40%. Combined, Churn Creek Marketplace and River Crossing Marketplace will encompass 375,000 square feet of retail space. The shopping centers will change the landscape of south Redding and dramatically increase traffic on the Interstate 5/South Bonnyview Road interchange. Additionally, the Redding Rancheria plans to build a new casino immediately south of River Crossing Marketplace to replace the extremely profitable, but less strategically located, Win-River Casino. Located on a 232-acre site, the project would include a 140,000 square foot casino, a 250-room hotel, an event and convention center, and an additional 25,000 square feet of retail space, further solidifying the neighborhood as the new center of the Redding trade area.

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