Perris Market Pad A

Posted by City of Perris, CA

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Development Site

Development Opportunity

Size

9897 sqft

Ownership

Privately Owned
1700 n perris blvd small

Site Description

Internet Resistant Multi-Tenant Retail Investment: 100% occupied multi-tenant pad to new Walmart Supercenter comprised of 9,897 SF featuring six daily needs retailers on new long term leases

100% National & Regional Tenants: Chipotle, Jimmy John's, Pieology, T-Mobile, Waba Grill, Yogurtland

10%-12% Rental Increases Every 5 Years in Initial Lease Terms: All six tenants feature 10%-12% increases equating to an unleveraged increase in return of over 50 basis points in year 6

Brand New 2017 Construction: The property is in the final development stages with tenants scheduled to open starting May 2017

Long-Term Leases: Zero tenant rollover until 2024 with 84% of GLA leased through 2027

Excellent Regional Draw: Situated at the main entrance to the only Walmart Supercenter within an 11-mile radius

Pad to a Newly Walmart Supercenter @ Perris Marketplace: 
- The first Walmart to open in Riverside County opened in the City of Perris in 1992
- Walmart strategically relocated and expanded into a new 184,000 SF Supercenter format in 2015, 1 mile away from its original location, adding the sale of groceries, general merchandise, a garden center, and full service pharmacy

Strong Neighboring Tenant Synergy: Regional/national co-tenants in Perris Marketplace include Walmart Supercenter, America's Best, Dickey's Barbecue Pit, Great Clips, Jamba Juice, Pacific Dental Services, Panda Express, Popeyes, Sally Beauty, Starbucks, Verizon and Wendy's

Freeway Adjacent: Perris Marketplace is located adjacent to Interstate 215 with 145,000 CPD and nearly 28,000 CPD along Nuevo Road at the freeway on/off ramps

Dominant Retail and Entertainment Trade Area: The subject property is adjacent to a Food 4 Less, Rite Aid, and Regency Theaters anchored center with neighboring shopping centers in the trade area being anchored by dd's Discounts and Stater Bros

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Costs

$7,755,000

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0 , Perris Valley, CA 92571

9.55 acres (416005.67 sqft)
Owner
COUDURES FAMILY LTD PARTNERSHIP
1688 N PERRIS BLV STE F4, PERRIS CA 92571
Details
APN: 305240028
Ground Lease

Contact Michele Ogawa

Michele, from City of Perris, CA, has more details.

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Created on July 24th, 2017 (last updated 10 months ago)