Features
- Rare Opportunity to Acquire an Essential Dual-Tenant Center with Upside
- 96% of the Center is Leased to Two High Credit Tenants
- Jewel Completed a Store Remodel in 2019/2020 which Included the Addition of a Starbucks
- Dollar Tree Space has Continuously Operated as a Dollar Store for 29 Years
- Ability to Lease the 2,450-Square Foot Vacant Space and Increase Cap Rate Over 50 Basis Points
- Best in Class Tenants with Modest Base Rent and Low Occupancy Cost
- Jewel is Paying a Well Below Market Rent of Only $4.18 per Square Foot
- Jewel Generates Additional Revenue through Rent Collected from Starbucks Located Inside Grocery Store
- Dollar Tree is Paying a Modest Rental Rate of $7.00 per Square Foot
- Property is Priced Substantially Below Replacement Cost at $69.99 per Square Foot for the Building
- The Center has Ideal Positioning in Between Two Stop Lights Across the Street from a Walmart Supercenter
Contact
ADRIAN MENDOZA
First Vice President Investments
Tel: (630) 570-2163
Adrian.Mendoza@marcusmillichap.com
* Broker of Record: Steven Weinstock
