Ross & Dollar Tree
| Price | $6,905,000 |
| Cap Rate | |
| NOI | |
| Lease Term | Various |
| Lease Type | Various |
| Rental Increases | Various |
| Year Built | 2017 |
| Building Size | 36,715 SF |
| Lot Size | 3.2 acres (139,365 SF) |
| Status | Sold |
| Lead Broker Information | Ryan Forsyth Cushman & Wakefield 415.413.3005 ryan.forsyth@cushwake.com CA RE License #01716551 Vincent Aicale Cushman & Wakefield 415.690.5522 vince.aicale@cushwake.com CA RE License #01728696 Michael T. Yuras, CCIM Cushman & Wakefield 415.481.0788 michael.yuras@cushwake.com CA RE License #01823291 Scott Crowle Senior Director 415.604.4288 scott.crowle@cushwake.com CA RE License #01318288 |
Investment Highlights
100% LEASED TWO-TENANT RETAIL ASSET WITH STRONG CORPORATE LEASES
» Long-term leases for both tenants
» Ross Stores, Inc. (NASDAQ: “ROST”) is an S&P 500, Fortune 500, and Nasdaq 100 company and has an “A-” credit rating from Standard & Poor’s and an “A2” credit rating from Moody’s
» Dollar Tree, Inc. (NASDAQ: “DLTR”) is a Fortune 500 company, operating more than 15,000 stores and rated “BBB-” by Standard & Poor’s
HIGH-TRAFFIC LOCATION WITH IMMEDIATE FREEWAY ACCESS
» Excellent visibility and access to 48,234 vehicles per day directly in front of the property on Olive Drive
» Immediate access to U.S. Route 99, which experiences a high traffic count of 89,000 vehicles per day
ANCHOR STORES IN PRIME RETAIL LOCATION
» Property anchors Olive Plaza, a shopping center which features a strong mix of local and national tenants, including Bank of America and Boost Mobile
» Olive Plaza is located between to signalized intersections on Olive Drive
» Close to major national retailers like Big Lots, Aaron’s, Rite Aid, Starbucks, and more
» Minutes from large shopping centers featuring Walmart, Target, Home Depot, Hobby Lobby, Burlington, Tractor Supply, Smart & Final, and many others
STRONG CUSTOMER BASE WITH ROBUST DEMOGRAPHICS
» Several schools are close to the property, including San Lauren Elementary School (407 students), Discover Elementary School (883 students), Olive Drive Elementary
School (548 students), and Centennial High School (1,992 students)
» Near several industrial regions, with 107,542 daytime employees working within a five-mile radius
» Surrounded by densely populated residential neighborhoods, with 194,793 people living within five miles of the property
» Close to Meadows Field Airport, the main airport for the Bakersfield area and one of two international airports in the San Joaquin Valley
Property Description
SOLD
The property is on Olive Drive, with excellent visibility and access to 48,234 vehicles per day directly in front of the property. Olive Drive provides immediate access to U.S. Route 99, which experiences a high traffic count of 89,000 vehicles per day. The property is located in Olive Plaza, a shopping center which features a strong mix of local and national tenants, including Bank of America and Boost Mobile. Located in a strong retail area, the property is close to major national retailers like Big Lots, Aaron’s, Rite Aid, Starbucks, and more. The property is also just minutes from large shopping centers featuring Walmart, Target, Home Depot, Hobby Lobby, Burlington, Tractor Supply, Smart & Final, and many others.
The property is centrally located near schools, major employers, and residential neighborhoods. Several schools are close to the property, including San Lauren Elementary School (407 students), Discover Elementary School (883 students), Olive Drive Elementary School (548 students), and Centennial High School (1,992 students). The property is near several industrial regions, with 107,542 daytime employees working within a five-mile radius. Additionally, the property is surrounded by densely populated residential neighborhoods, with 194,793 people living within five miles of the property.
