Grocery Outlet

SRS National Net Lease Group is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in a NN leased, Grocery Outlet investment property located in Blue Jay, California (Lake Arrowhead).​ The tenant, Grocery Outlet, Inc recently signed a brand new 10 year lease with 5 (5-year) options to extend, demonstrating their commitment to the site.​ The lease features 10% rental increases at the beginning of each option period, steadily growing NOI and hedging against inflation.​ The lease is absolute NN with landlord responsibilities limited to roof, structure, parking lot, and foundation making it an ideal, low-management investment opportunity for a passive investor.​ The property is undergoing a new remodel that will include a state-of-the-art design with high-quality materials.​ Furthermore, the roof has a brand new 10-year warranty that was put in place.​ The company has nearly 450 locations throughout California, Idaho, Maryland, New Jersey, Nevada, Oregon, Pennsylvania, and Washington.​

The Grocery Outlet is located at the intersection of N Bay Rd and CA-189 with a combined (15,300 VPD).​ The asset benefits from excellent visibility via significant street frontage and large pylon sign.​ The subject property is within close proximity to multiple national/credit tenants including CVS Pharmacy, McDonald’s, 7-Eleven, Shell, Coach, and many more.​ Strong tenant synergy increases consumer draw to the immediate trade area and promotes crossover store exposure to the site.​ Furthermore, the site is in close proximity to Rim of the World High School (928 students), further increasing consumer traffic to the subject area.​ The 5-mile trade area is supported by over 20,000 residents and 6,000 employees.​ Residents within a 1-mile of the subject property boast an affluent average household income of $130,898.​

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  Brand New 10-Year Lease | Options to Extend | Investment Grade (S&P: B+) | New Remodel | Roof Warranty

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  NN Leased | Fee Simple Ownership | Limited Landlord Responsibilities

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  Located at Intersection | Strong National/Credit Tenant Presence | Extremely Limited Competition in Surrounding Area

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  Strong Demographics in 5-Mile Trade Area | Six-Figure Incomes