Upland, CA - Black Rock Coffee

Description:

SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN leased, corporate signed, Black Rock Coffee investment property located in Upland, California. The tenant, Black Rock Store Operations LLC recently signed a brand new 15-year lease with 3 (5-year) options to extend, demonstrating their commitment to the site. The lease features 10% rental increases every 5 years throughout the initial term and at the beginning of each option period, growing NOI and hedging against inflation. The lease is absolute NNN with zero landlord responsibilities making it an ideal, management-free investment opportunity for an out of state investor. The property has a state-of-the-art design with brand new construction materials.

The Black Rock Coffee is located along E Foothill Blvd, which averages 23,700 vehicles passing by daily and is a major retail thoroughfare serving the city of Upland. Upland benefits from Claremont’s more restrictive development environment, capturing significant retail and quick-service restaurant demand from residents seeking a broader mix of national brands and drive-thru concepts. In addition, the property is positioned just north of Interstate 10 (218,000 VPD), a major east/west travelling highway connecting Los Angeles and San Bernardino. Furthermore, the asset is situated directly across from a Walmart Neighborhood Market, helping draw consumers into the trade area. Moreover, the site is positioned just down the road from Upland Village Center, a 200,000 square foot shopping center anchored by Ross Dress For Less, Burlington, Dollar Tree, and more. The property is in the center of a primary retail corridor with other nearby national/credit tenants including The Home Depot, Lowe’s Home Improvement, Costco Wholesale, Target, Sprouts Farmers Market, Albertsons, Planet Fitness, CVS Pharmacy, and more, further increasing consumer traffic to the site. The 5-mile trade area is supported by a population of over 370,900 with an affluent average household income of $123,124.

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