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Smart Foodservice, Sacramento, CA

Smart Foodservice

Price $4,492,000
Cap Rate 6.00%
NOI $269,500
Lease Term 14 Years Remaining
Lease Type Net, With Tenant Responsible For Taxes, Insurance, And Maintenance, Excluding Roof, And Structure
Rental Increases 9% Rental Increases Every Five (5) Years
Year Built 2018
Building Size 22,000 SF
Lot Size 2.88 Acres (125,452.8 SF)
Status Available
Lead Broker Information Ryan Forsyth
Executive Director
415.413.3005
ryan.forsyth@cushwake.com
CA RE License #01716551

Vince Aicale
Executive Director
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

LONG-TERM CORPORATE LEASE WITH SCHEDULED RENTAL INCREASES
» Long-term net lease with scheduled rental increases, providing a hedge against inflation
» Corporate lease to Smart Foodservice, a subsidiary of Smart & Final (NYSE: “SFS”)
» Smart Foodservice serves the community for a wide range of quality food products, chef supplies, and wholesale restaurant supplies

HIGH-TRAFFIC LOCATION IN EXTREMELY DENSE RETAIL CORRIDOR
» Direct access to 18,728 vehicles per day via Florin Towne Centre’s entrance on 65th Street, plus interparcel access from Florin Road (34,180 AADT) and Stockton Boulevard (28,380 AADT)
» Immediate access to Highway 99 (196,000 AADT)
» Prominently located in Florin Towne Centre, a power center anchored by Walmart Supercenter
» 2.3 million square feet of retail space within a one-mile radius of the property

CENTRAL LOCATION WITH ROBUST DEMOGRAPHICS
» Centrally located eight miles from downtown Sacramento, six miles from Sacramento Executive Airport, and close to large schools and densely populated residential neighborhoods
» Over 23,000 residents live within a one-mile radius of the property, and 390,545 people live within five miles, providing a large customer base
» Large daytime population in the area, with 132,215 daytime employees working within a five-mile radius

LOCATED IN AN OPPORTUNITY ZONE WITH TAX INCENTIVES
» Opportunity Zones were created by the 2017 Tax Cuts and Jobs Act to encourage investors to reinvest capital gains, which can come from any investment—including stocks, bonds, real estate, and partnership interests—into these zones
» Investors can invest in qualified Opportunity Zones through an Opportunity Fund, which provides both temporary and long-term tax deferrals for eligible investors
» No taxes on 10% of gains after five years, 15% of gains after seven years, and 100% of gains after ten years



Property Description

The property is located at Florin Towne Centre’s entrance on 65th Street, with excellent visibility and direct access to 18,728 vehicles per day. The property also enjoys interparcel access from Florin Road (34,180 AADT) and Stockton Boulevard (28,380 AADT), as well as immediate access to Highway 99 (196,000 AADT). The property is prominently located in Florin Towne Centre, a power center anchored by Walmart Supercenter and featuring strong national tenants such as 24 Hour Fitness, PetSmart, Starbucks, Wells Fargo, Dollar Tree, McDonald’s, and more. Located within the main retail hub of one of south Sacramento’s busiest trade areas, the property is surrounded by 2.3 million square feet of retail space within a one-mile radius. Other notable retailers in the nearby area include Burlington, Home Depot, Walmart Neighborhood Market, FoodMaxx, Krispy Kreme, Midas, and Beck’s Furniture.

The property is centrally located eight miles from downtown Sacramento, six miles from Sacramento Executive Airport, and close to large schools and densely populated residential neighborhoods. More than 23,000 residents live within a one-mile radius of the property, and 390,545 people live within five miles, providing a large customer base. Additionally, the property is close to major employment centers and industrial regions, creating a large daytime population in the area, with 132,215 daytime employees working within a five-mile radius.

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