Grocery Outlet | Middletown, CA
Top Performing Grocery Outlet Site | 10% Rent Increases
Marketing description
15-year net lease (11.5 years remaining) to Grocery Outlet, with over 500 locations nationwide.
10% rental increases every five (5) years in the initial term and four (4) option periods.
Corporate-backed lease by Grocery Outlet Inc., a publicly traded company (NASDAQ: “GO”), enhances investment security with a proven track record.
Net sales rose by approximately 10.1% in fiscal 2024, reaching $4.37 billion.
The company expanded its store footprint by 67 new stores during 2024 (including an acquisition of 40 stores from United Grocery Outlet).
Comparable store sales increased by 2.7% in 2024.
Grocery Outlet plans to open 35 new stores in fiscal 2025.
Investment highlights
Prime Grocery Outlet Location: High-visibility and easily accessible location along Hartmann Road, a primary east-west Middletown thoroughfare.
Major State Route: The site’s proximity to State Route 29 allows the property to capture significant local and commuter traffic.
Reliable Tenancy: Net sales for Grocery Outlet rose by approximately 10.1% in fiscal 2024, reaching $4.37 billion.
Strong Demographic Base: The five-mile radius serves an affluent region, with an average annual household income of $122,729 within five miles.
Clear Lake: Beneficial proximity to Clear Lake, which attracts over 1.5 million annual recreational tourists annually.
Growing Market Dynamics: Projected income increases within 1-, 3-, and 5-mile radii over the next five years poise this Grocery Outlet and Middletown for steady concurrent growth.
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