Auction | Value-Add Retail | $346k NOI | Antioch, CA
Retail | 23,508 SqFt
Marketing description
Savers Value Village, Inc. is a for-profit thrift retailer and one of the largest secondhand store operators in North America. The company purchases donated goods from nonprofit partners, providing them with funding while reselling items through its extensive retail network. Headquartered in Bellevue, Washington, Savers operates under multiple brands and serves value-oriented and sustainability-focused consumers, positioning itself at the intersection of affordability and circular retail.
This investment benefits from a NN lease with a corporate guaranty by Savers Value Village, Inc., with the tenant currently dark yet continuing to pay rent. The property is positioned on Somersville Road with immediate access to State Highway-4 (±165,000 VPD), providing attractive visibility and accessibility. More than 169,000 residents with average household income exceeding $119,000 within a 5-mile radius.
The property is surrounded by regional and national retailers including Costco, Smart & Final Extra!, Lowe's, PetSmart, Harbor Freight, Big 5 Sporting Goods, Chick-Fil-A, In-N-Out, and more. Across from Somersville Towne Center, a regional mall drawing consistent consumer traffic and serving as a retail hub for East Contra Costa County.
Investment highlights
Coming To Auction
- Strong Location – Positioned on Somersville Road with immediate access to State Highway-4 (±165,000 VPD), providing attractive visibility and accessibility.
- Attractive Demographics – More than 169,000 residents with average household income exceeding $119,000 within a 5-mile radius.
- Passive, High-Yield Lease Structure – This investment benefits from a NN lease with a corporate guaranty by Savers Value Village, Inc., with the tenant currently dark yet continuing to pay rent.
- Scheduled Rent Growth – 10% rent escalations every five years during the base term and option periods.
- Potential Buyout Opportunity – Potential opportunity to create value through a negotiated lease buyout with Savers.
- Dense Retail Corridor – Surrounded by regional and national retailers including Costco, Smart & Final Extra!, Lowe's, PetSmart, Harbor Freight, Big 5 Sporting Goods, Chick-Fil-A, In-N-Out, and more.
- Trade Area Anchors – Across from Somersville Towne Center, a regional mall drawing consistent consumer traffic and serving as a retail hub for East Contra Costa County.
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