Kroger Fuel - Absolute NNN - Bakersfield, CA - 20-Year Ground Lease
$3,000,000
1901 White Lane, Bakersfield, CA 93304
5
Cap Rate
150,000
NOI
Details:
Highlights:
- BRAND NEW SINGLE-TENANT 20-YEAR GROUND LEASE
- 10% RENT INCREASES EVERY 5 YEARS
- STRONG CORPORATE GUARANTY FROM THE KROGER CO
- STRATEGICALLY LOCATED ON WHITE LANE AND HWY 99 IN BAKERSFIELD
- COMPLETE NEW CONSTRUCTION OF A 7-PUMP FUEL STATION
Description:
We are pleased to present this rare opportunity to acquire a newly constructed, Foods Co (Kroger) fuel station (the “Property”) a single tenant, net leased investment property in Bakersfield, CA. The tenant recently signed a 20-year ground lease with 10% increase every 5 years, with 8 (5-year) options to extend the base term of the lease with 10% increases every option period.
The lease is guaranteed by Foods Co’s parent company, The Kroger Co, which is the United States' largest supermarket chain by revenue and the second-largest general retailer behind only Walmart. Kroger is ranked #24 on the Fortune 500 rankings of the largest US corporations by total revenue. Kroger operates a total of 2,849 grocery retail stores across the country under a variety of banner names. This fuel center is a new addition to Kroger’s 1,600+ supermarket fuel stations that they operate throughout the country.
Documents:
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OM_-_FoodsCo_Fuel__Kroger__-_Bakersfield_CA.pdf
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Location
Gallery
