609 HORNING ST San Jose CA 95112-2929

609 Horning Street is located at the off-ramp of US Highway 101 to Oakland Road and benefits from excellent access and good visibility. Taco Bell is part of a larger development that will include a gas station and +/-96,000 square feet of self-storage space, and these uses will bring traffic to the site. The neighborhood surrounding the property is developed with a mix of industrial uses. The industrial uses create a large daytime population of employees, which is a major benefit for a fast food restaurant. In addition to the traffic from the morning and evening commute, there is a large potential customer base near the site. The area also has a dense residential population, with more than 20,000 people within one mile of the property. The combination of daytime population, residential population, and proximity to a freeway make the site ideal for a fast food restaurant.

Traffic along Oakland Road will increase dramatically when the San Jose Flea Market site is fully redeveloped. The Flea Market site is approximately 120 acres and is proposed for redevelopment with up to 4,400 homes, 3.6 million square feet of office space, and 100,000 square feet of retail space. KB Homes has already built 449 single-family residences at the site and Western National is building a 551-unit multi-family property; the retail center is also underway. When complete, this redevelopment project will dramatically change the neighborhood into a high-density transit village. Additionally, the property is about two miles from downtown San Jose and there are dozens of major development projects either underway or in the planning stages in the downtown area.

• Rare Silicon Valley Single-Tenant Net Lease Investment Offering
• 15-Year Ground Lease to Taco Bell (Regional Franchise Operator)
• 10.0% Rent Increases Every Five Years During Initial Lease Term and Options
• Two 5-Year Renewal Option Periods
• Excellent Access from US Highway 101
• High-Visibility Location at the Interchange of US Highway 101 and Oakland Road
• Large Employer Base and Significant Daytime Population in the Trade Area; More than 33,000 Employees within One Mile of the Site
• Redevelopment of the 120-Acre Flea Market Site Will Add 4,400 Homes, 3.6 Million Square Feet of Office Space, and 100,000 Square Feet of Retail Space