Hayward, CA - Hobby Lobby & Round 1 Bowling

Description:

SRS Capital Markets is pleased to present the opportunity to acquire the fee simple interest (land and building ownership) in a fully occupied, 106,609 SF retail asset located within Southland Mall in Hayward, CA—one of the San Francisco Bay Area’s most visited regional shopping destinations. The property sits in a high-traffic, high-visibility mall environment that consistently draws strong daily footfall, supporting tenant performance and long-term real estate value. The asset is 100% leased to a compelling roster of three e-commerce-resistant tenants—Hobby Lobby, Round 1 Entertainment, and Illegal Burger—offering durable income backed by corporate credit, contractual rent growth, and meaningful renewal optionality. Hobby Lobby anchors the ground floor under a 10-year corporate lease through 2033 with two five-year options and scheduled rent increases every five years. Round 1 Entertainment occupies the second floor with term through 2029, two five-year options, and rent increases at each renewal. Illegal Burger recently executed a five-year lease for the remaining ground-floor corner space. Notably, both Round 1 and Illegal Burger include percentage rent provisions, providing additional upside and reflecting strong, outperforming sales at this high-producing location.

The subject property benefits from its position within Southland Mall (1.3M+ SF), a dominant retail destination serving the greater Bay Area. The mall is home to a deep lineup of national and credit tenants—including Ross Dress for Less, Macy’s, H&M, Cinemark, and others—creating powerful tenant synergy and steady crossover shopping to the property. The asset will need to be subdivided into its own parcel by the Buyer. This offers the Buyer a rare standalone fee simple ownership within a highly trafficked retail node. Backed by exceptional five-mile demographics—369,200 residents, 113,800 employees, and a $142,021 average household income.

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Listing ID: a28TP0000024KqDYAU