Overview

Description

LEASE HIGHLIGHTS
• HARD SIGNALIZED CORNER LOCATION – The property sits on a hard signalized corner at the center point of Merced
• STRONG POPULATION GROWTH - The annual population growth is projected at approximately 1.5% annually
• DENSELY POPULATED – Over 100,000 residents in a 5-mile radius
• HEAVY TRAFFIC COUNTS – Over 40,000 VPD pass the intersection of Olive Ave and R St
• TARGET AND MALL OUTPARCEL – Property benefits from being out-parceled to an active shopping area
• STRONG TENANT LINEUP – Over 91% of the income is guaranteed by corporate Chipotle or Panera
• NNN – Leases property benefits from attractive NNN leases from all tenants
• STRONG HISTORICAL PERFORMANCE – Tenants have excelled and have a history of exercising options and above-average reported sales
• CHIPOTLE EXTENSION – Recently extended the lease out for an additional 10 years
• YOGOLOCIOUS EXTENSION – Recently exercised an option for an additional 5 years
• DRIVE THRU – Panera Bread benefits from a Drive Thru

LOCATION HIGHLIGHTS
• MERCED METROPOLITAN STATISTICAL AREA – Merced is the county seat in the Merced MSA, with a population of nearly 300,000
• MERCED – Located in the heart of California’s agricultural Central Valley, Merced is the region’s hub for education, culture, and business
• HIGH TRAFFIC COUNTS – R Street gets over 23,591 Vehicles Per Day and Olive Avenue sees over 37,259 VPD

Documents

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