Brand-New 10-Year Lease with Circle K Corporate

Highlights:

• Brand-New Ten (10)-Year Lease Extension — Circle K has committed to a brand-new ten (10)-year lease extension (through June 30, 2036) with two (2) additional five (5)-year options, demonstrating a long-term commitment to the site and extending potential occupancy through 2046.
• Corporate-Level Credit Tenant — The Lease is signed directly by Circle K Stores Inc., placing the income stream behind one of the largest convenience-store operators in the world (a subsidiary of Alimentation Couche-Tard, with approximately 17,000 stores across North America and a multi-billion-dollar market cap).
• Directly Across from Dominant Grocery-Anchored Retail Hub — The property benefits from a premier location directly across from Belmont Center, a high-performing shopping center anchored by Food 4 Less, driving consistent daily traffic and providing strong co-tenancy synergy that enhances visibility, foot traffic, and long-term tenant demand.
• Signalized Hard-Corner Location — The property occupies the signalized hard corner of E. Anaheim Street and Redondo Avenue, delivering full-movement access from all four directions, premier visibility, and strong daily traffic counts of 55,400 vehicles per day.
• Absolute NNN Ground Lease — Zero Landlord Responsibilities — A true absolute triple-net ground lease. The tenant is responsible for all taxes, insurance, maintenance, and repairs. Truly passive, mailbox-money ownership with no management burden and no capital exposure.
• Fifteen Percent (15%) Rental Increases Every Five (5) Years — Built-in fifteen percent (15%) rent escalations every five (5) years across both the firm term and all option periods — an increase structure that is rare and above typical market standard — providing predictable NOI growth, a strong inflation hedge, and a steadily improving yield-on-cost throughout the hold period.
• 59-Year Operating History — Circle K and its predecessors have operated continuously at this location for over 59 years, repeatedly renewing — most recently via this 2026 extension — a powerful indicator of long-term store performance and the tenant’s intent to remain for decades to come.

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