Bakersfield, CA - Lumberjack Square

Description:

SRS Capital Markets is pleased to offer the opportunity to acquire the fee simple interest (land and building ownership) in Lumberjack Square, a 100% leased, multi-tenant retail center located in Bakersfield, California. Anchored by Body Xchange and The Firehouse, the property features a diverse and e-commerce-resistant tenant lineup. Body Xchange recently signed a 5-year lease with an additional 5-year option to extend, underscoring its commitment to the site. The Firehouse, a prominent local entertainment hub, has operated at this location for over 20 years and recently extended its lease through 2028, with two additional 5-year options. Both leases include scheduled rental increases throughout the initial terms and at the beginning of each extension period, ensuring steady NOI growth and a hedge against inflation. All tenants have signed NNN leases, minimizing expense slippage for future ownership and ensuring low management responsibilities.

Lumberjack Square benefits from a prime location on White Lane, with an average daily traffic count of 44,900 vehicles, enhancing visibility and accessibility. The property is strategically positioned across from Village at the Oaks Shopping Center, a 142,000-square-foot Albertsons-anchored center, and near Gosford Village Square, a 240,000-square-foot center anchored by Walmart Supercenter, Sam’s Club, and Kohl’s. Situated in the heart of a thriving retail corridor, the center is surrounded by national/credit tenants including Home Depot, Ross Dress for Less, Petco, Boot Barn, and more, driving significant consumer traffic. Additionally, the property is close to an industrial complex, further boosting traffic from employees and nearby residents. The 5-mile trade area is home to over 270,000 residents, with an average household income of $109,890, providing a robust and growing customer base.