Brawley, CA - Grocery Outlet

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 signed, recently constructed, Grocery Outlet Bargain Market investment property located in Brawley, California (Imperial Valley). The tenant, Grocery Outlet Inc., recently executed a brand new 15-year lease with 5 (5-year) options to extend, demonstrating their commitment to the site. The lease features 10% rental increases throughout the initial term and option periods, growing NOI and hedging against inflation. The lease is signed by the corporate entity (NASDAQ: GO) and is NNN with landlord responsibilities limited to roof and structure, making it an ideal, low-management investment opportunity for a passive investor. Based in Emeryville, California, Grocery Outlet is a high-growth, extreme value retailer of quality, name-brand consumables and fresh produce currently operating more than 420 locations nationwide. The building also features state-of-the-art, brand new construction with modern amenities and design.

Grocery Outlet is strategically located near the signalized, hard corner intersection of State Highway 86 and Panno Drive, averaging a combined 19,600 vehicles passing by daily. Furthermore, the asset is directly across from Brawley Gateway, a 180,000 SF regional shopping center anchored by Walmart Supercenter, a premier anchor tenant that significantly increases consumer draw to the immediate trade area and promotes crossover store exposure for the site. Other nearby national/credit tenants include Vons, AutoZone, Rite Aid, Ace Hardware, Dollar General, O’Reilly Auto Parts, Starbucks, and more. Additionally, the property is within close proximity to future residential developments including Rancho Los Lagos (3,830 units), La Paloma (2,000 units), and Luckey Ranch (869 units), providing a direct consumer base from which to draw. Moreover, the city of Brawley serves as a gateway for tourists traveling to the Imperial Sand Dunes (Glamis), the largest off-road vehicle recreation area in the United States with approximately 1,000,000 visitors per year. The 5-mile trade area is supported by more than 27,000 residents and 7,500 daytime employees. Residents within 1 mile of the subject property boast a healthy average household income of $97,417.

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