Tractor Supply Company
CA, United States
| Price | $6,435,000 |
| Cap Rate | CALL FOR DETAILS |
| NOI | CALL FOR DETAILS |
| Lease Term | 15 Years |
| Lease Type | NN, with Landlord Responsible for Roof, Structure, and Parking Lot Replacement |
| Rental Increases | CALL FOR DETAILS |
| Year Built | 2017 |
| Building Size | 18,800 SF Plus 15,000 SF Fenced Outdoor Display |
| Lot Size | |
| Status | Sold |
| Lead Broker Information | Ryan Forsyth Executive Director 415.413.3005 ryan.forsyth@cushwake.com CA RE License #01716551 Vince Aicale Executive Director 415.690.5522 vince.aicale@cushwake.com CA RE License #01728696 |
Investment Highlights
NET LEASE WITH SCHEDULED RENT INCREASES TO STRONG NATIONAL TENANT
» Leased to Tractor Supply Company for 15 years with four (4) five-year options
» 5% rental increases every five years, providing a hedge against inflation
» Tractor Supply is a Fortune 500 company with revenues of $6.2 billion
HIGH-TRAFFIC LOCATION IN DENSE RETAIL CORRIDOR
» Located near the signalized intersection of Palmdale Boulevard and 40th Street East, which experiences a high traffic count of 29,828 vehicles per day
» Within walking distance of 47th Street Pavilion, the primary retail shopping hub in the eastern Palmdale community, featuring the only Super Target in the regional trade area
» Close proximity to the Antelope Valley Mall, the preeminent retail shopping destination in the region
LOS ANGELES MSA LOCATION WITH STRONG CUSTOMER BASE
» Located in a densely populated area, with a population of 123,441 within a five-mile radius
» Palmdale is one of the largest and fastest growing cities in California
» Los Angeles County is the most populous county in the United States
NEW 2017 BUILT-TO-SUIT CONSTRUCTION
» Built to Tractor Supply Company’s exact specifications
» Features latest Tractor Supply Company store designs and concepts
» New building, limiting near-term deferred maintenance or capital costs
Property Description
SOLD
The property is located near the signalized intersection of Palmdale Boulevard and 40th Street East, which experiences a high traffic count of 29,828 vehicles per day. Palmdale Boulevard is a major retail corridor, and the property is close to several large retail centers. 47th Street Pavilion is located less than a mile from the property and is the primary retail shopping hub in the eastern Palmdale community. The center is anchored by Home Depot, Ross, and the only Super Target in the regional trade area. Other notable tenants in the shopping center include PetSmart, Jamba Juice, Bath & Body Works, AT&T, Wells Fargo, and Burger King, among many others. The property is also just over five miles from the Antelope Valley Mall, the preeminent retail shopping destination in the region. The mall has approximately one million square feet of retail space, and is anchored by Macy’s, JCPenney, Sears, Forever 21, and Dick’s Sporting Goods.
The property is close to Air Force Plant 42, Palmdale’s main industrial center. Air Force Plant 42 is home to some of the region’s largest employers, including Lockheed Martin, with 3,000 employees, and Northrop Grumman, with 2,573 employees. Additionally, the property benefits from its prime location in a densely populated area, with 123,441 people living within a five-mile radius of the site.
