10842A KATELLA AVE Garden Grove CA 92840

The current annual rent is $460,015 and a 5.25% increase is scheduled to occur in 2025. The 25-year NNN Lease commenced on August 1, 2005 and ends July 31, 2030. The tenant has ten 5-year Options to Extend with approximately 6% rental increases every ten years. Although Dollar Tree signed a ten-year sublease agreement in 2017, Walgreens Co. is corporately guaranteeing the performance of the lease through the remainder of the Primary Term.

The subject property is located near the intersection of Katella Avenue and Euclid Street, which benefits from traffic counts in excess of 60,000 vehicles per day. Disneyland and California Adventure are both less than one mile from the site and the Anaheim Convention Center is just two miles away.

The surrounding center has undergone extensive renovations throughout the past two years and includes tenants such as AutoZone, Gold’s Gym, WalMart Neighborhood Market, McDonald’s, Carl’s Jr. and Chevron.

• Absolute NNN Lease corporately guaranteed by Walgreens through July 31, 2030 (currently subleased to Dollar Tree)
• Investment Grade Credit
• Prime Orange County Location less than 1 mile from Disneyland and Disney's California Adventure (18M visitors annually)
• +/-70% of Purchase Price guaranteed revenue with highly desirable residual land value (1.45 acres)
• Outparcel to recently renovated shopping center with tenants such as AutoZone, Walmart-Neighborhood Market and Gold's Gym
• 813,000+ population within 5-mile radius & average household income of $89,278 within 1-mile radius