French Valley (Winchester), CA - Les Schwab Tires

Description:

SRS National Net Lease is pleased to offer the opportunity to acquire the leased fee interest (land ownership) in an absolute NNN leased, Les Schwab Tires investment property located in French Valley, California. The tenant, Les Schwab Tires recently signed a brand new 15-year lease with 4 (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, steadily growing NOI and hedging against inflation. The lease is corporate signed and absolute NNN with zero landlord responsibilities making it an ideal, management-free investment opportunity for a passive investor. The building features state-of-the-art, brand new construction with modern amenities and design.

The property is located near the signalized, hard corner intersection of Winchester Rd and Thompson Rd with a combined (33,700 VPD). Winchester Rd, is a major retail thoroughfare serving the city of French Valley. Furthermore, Les Schwab Tires is ideally situated within French Valley Marketplace, a 20-acre, brand new shopping center featuring other national/credit tenants such as Grocery Outlet, McDonald’s, EoS Fitness, AutoZone, Chipotle, and 7-Eleven. Other nearby retail centers include grocery anchored French Valley Village Center (118,600 SF), French Valley Commons (38,300 SF), and French Valley Crossings (69,000 SF / In Development). Winchester Road (28,500 VPD) is the primary retail corridor serving the trade area, with other nearby national/credit tenants including Stater Bros. Market, CVS Pharmacy, O’Reilly Auto Parts, Dollar Tree, Crunch Fitness, and more. Strong tenant synergy increases consumer draw to the immediate trade area and promotes crossover store exposure for the property. Moreover, the site is between two prominent apartment complexes, Pacific Landing Luxury Apartments (325 units) and Dakota Apartments (174 units), providing a direct consumer base from which to draw. The 5-mile trade area is supported by more than 159,600 residents and 24,400 daytime employees. Residents within 3 miles of the subject property boast an affluent average household income of $150,537.