Pomona, CA - Rite Aid

Description:

SRS National Net Lease Group is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in a NNN leased, corporate guaranteed, Rite Aid investment property located in Pomona, CA. The tenant, Thrifty Payless, Inc., currently has approximately 2.5 years remaining in their current lease term, with 5 (5-year) options to extend at $1/SF/Yr rental increases. Rite Aid has been operating at this site for more than 20 years, a testament to the strength of the location. The lease is NNN with landlord responsibilities limited to roof and structure, providing an ideal, low-management investment opportunity for a new investor.

Rite Aid is strategically located as a pad within Rio Rancho Plaza, a retail center at the signalized, hard corner intersection of S Garey Ave and Rio Rancho Blvd, two arterial thoroughfares serving Pomona with 40,800 combined vehicles passing by daily. The site also has nearby direct on/off ramp access to two major commuter thoroughfares in State Highway 60 (235,000 VPD) and State Highway 71 (77,000 VPD). The tenant benefits from being featured on a prominent monument sign at the signalized corner, and has excellent visibility and street frontage wtih multiple points of ingress/egress to the surrounding shopping center along both cross-streets. The building is complete with a drive-thru pharmacy, providing ease and convenience to customers. On average, stores with drive-thrus experience higher sales than those without. Rite Aid is positioned within the heart of a dense retail corridor, with nearby national/credit tenants including Target, Walmart Supercenter, WinCo Foods, Cardenas, Ross Dress for Less, Planet Fitness, Rite Aid, and more. Surrounding retailers increase consumer draw to the immediate trade area and promote crossover store exposure to the site. The 5-mile trade area is home to more than 377,000 residents and 131,000 employees with a healthy average household income of $97,000.