Grocery Outlet | 13 Years | Corporate Guarantee

SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in a corporate guaranteed, Grocery Outlet investment property located in Colville, Washington.​ The tenant, Grocery Outlet, Inc.​, recently agreed to a brand new 13-year lease extension with 3 (5-year) options to extend, demonstrating their commitment to the site.​ The lease features a 10.4% rental increase in year 8 of the extension and variable increases at the beginning of each option period, steadily growing NOI and hedging against inflation.​ Grocery Outlet is a high-growth, extreme value retailer of quality, with name-brand consumables and fresh products sold through a network of 480+ independently operated stores, 74 of which are located in Washington.​ The offering also includes an additional 4,174 square feet of vacant space.​

The site benefits from excellent visibility and access along S.​ Main Street, the primary retail thoroughfare serving the surrounding area and supporting 12,500 vehicles passing daily.​ Grocery Outlet receives consumer traffic from its position along the thoroughfare and crossover retail exposure derived from nearby national/credit retailers including Walmart Supercenter, Safeway, Super 1 Foods, McDonald’s, and Taco Bell.​ The tenant has access to a direct consumer base in the immediate area, comprised of many single family homes along with the Spokane Community College Colville Campus.​ In addition to the local consumer population, Colville experiences seasonal tourism due to its position as a gateway for travelers to the Colville National Forest.​ The state landmark encompasses over 1.5 million acres of forest and serves as one of the most popular outdoor destinations in the northwest.​ The 5-mile trade area is supported by a population of over 8,400 residents and 5,500 employees with an average household income of $82,115.​

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  13-Year Extension | Options To Extend | Scheduled Increases | Corporate Guaranteed | Well Known & Established Brand

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  Excellent Visibility & Access | Nearby National/Credit Tenants |S. Main Street (12,500 VPD) | Direct Consumer Base

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  Strong Demographics In 5-Mile Trade Area | Colville National Forest