Henderson, NV - Jared Jewelers

Description:

SRS National Net Lease Group, LP. is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN, freestanding, Jared Jewelers investment property located in Henderson, Nevada (Las Vegas MSA). The tenant, Sterling Jewelers, Inc., has occupied the property for over 25 years and recently exercised a 5-year extension option, with 4 (5-year) options remaining. The lease features 12.5% rental increases at the beginning of each option period, hedging against inflation. The lease is absolute NNN with zero landlord responsibilities making it an ideal, management free investment opportunity for a passive investor. Jared is the nation’s leading off-mall destination specialty jewelry chain and a wholly owned concept of Signet Jewelers (NYSE: SIG), the world’s largest retailer of diamond jewelry operating approximately 2,800 stores across Kay Jewelers, Zales, Jared, and other banners. The site represents a top performing brand location ranking in the top 98th percentile (#5 nationally and #1 in the state) with over 101K annual visits (Placer.ai).

The subject property is a freestanding outparcel to Eastgate Plaza, a Walmart-anchored power center situated directly off the I-11 freeway (125,000 VPD) at the Sunset Road exit, drawing 5.9 million annual visits (Placer.ai). Eastgate Plaza is anchored by one of the top-performing Walmart Supercenters in the Las Vegas Valley and is further tenanted by Dollar Tree, Cavender’s, Bath & Body Works, and Petland, while the outparcel pad lineup includes In-N-Out Burger, Wendy’s, Red Lobster, and Del Taco. The subject property sits at the center of the broader Galleria at Sunset retail corridor, one of the highest-trafficked retail concentrations in the Las Vegas Valley, which collectively draws over 17 million annual visits across its primary destinations: Eastgate Plaza (5.9M), the Galleria at Sunset mall (4.2M), the Stephanie Street Power Center (4.3M), and the adjacent Sunset Station Hotel & Casino (2.8M). Henderson has been one of the nation’s fastest-growing large cities over the past decade, driven by continued in-migration, particularly from Southern California, and sustained residential development. The city is home to approximately 350,000 residents and is anchored by several premier master-planned communities, including Cadence, Green Valley Ranch, Inspirada, and Anthem. The 5-mile trade area is supported by a population of more than 328,000 residents and 103,000 employees with an average household income of $118,773.

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