Taft, CA - Albertsons

Description:

SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in a NNN, corporate guaranteed (NYSE: ACI), Albertsons investment property located in Taft, California (Bakersfield MSA). The tenant, Albertsons LLC, recently extended its lease 8-years with 6 (5-year) options
to extend, demonstrating their commitment to the site. The lease is NNN minimizing landlord responsibilities and limiting expense leakage, making it an ideal, low-management investment opportunity for a passive investor. The subject property has served as a grocery store since its opening in 1986. Albertsons Companies operates a nationally scaled grocery platform with more than 2,200 stores across 35 states under 20+ banners, including Albertsons, Safeway, and Vons, and maintains a strong footprint throughout California. The subject property boasts strong store sales (contact agent for details).

The subject property serves as the grocery anchor to Taft Hills Plaza, a 96K+ square foot retail center that serves as the primary shopping destination for the community and attracts over 1.6 million annual visits (Placer.ai). This site benefits from its location on Kern Street (9,400 VPD), offering excellent access to Highway 33, known
as the ‘Petroleum Highway,’ which functions as a critical north-south thoroughfare connecting travelers throughout California, and employees in the immediate oil
and gas industry hub. The plaza boasts a strong retail tenant mix, including inline tenants like Subway and Anytime Fitness, and outparcels such as Jack in the Box, Starbucks, and AutoZone, creating a consistent consumer draw which promotes crossover shopping throughout. Furthermore, the property is directly adjacent to Taft College, providing a consumer base of over 4,000 students. Taft’s strategic location 35 miles West of Bakersfield, a major economic center, further enhances its regional connectivity and access to a broader consumer base, including the 900K+ residents in its MSA.

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