Available $15,120,000 - Retail - Single Tenant
Investment Offering & Highlights
- Lowe’s is ranked 44 on the Fortune 500 with revenues of $72 billion and maintains a BBB+ investment grade credit rating by S&P
- Home improvement sector is thriving due to quarantine increasing time spent at home
- Lowe’s experienced a 30% revenue surge, 68.7% profit jump in Q2 2020 (CNBC)
- Lowe’s Traffic Index up 33.4% (Locate AI)
- Strong real estate fundamentals with $4.88 annual rent per square foot as applied to the building
- NNN lease with tenant responsible for taxes, insurance and maintenance/repair including roof and structure
Property Description
Leased to LOWE’S HIW, INC. for over 5 years expiring January 31, 2026. There are four 5-year options to extend the lease. The rent increases by 10% in the first option period and 5% for the remaining options. The lease is triple net with the tenant responsible for taxes, insurance, and maintenance, including roof and structure. Lowe’s reimburses Landlord for its pro-rata share of any additional CAM expenses + an 8% Admin Fee.
This property is being offered along with a multi-tenant PAD and three other neighboring NNN retail properties, Panda Express, Sonic and AutoZone. The properties can be acquired individually or as a portfolio. Please use the following links to access the neighboring properties:
Panda Express – $2,870,000
Sonic – $2,330,000
AutoZone – $1,500,000
Multi-Tenant PAD– Best Offer
Please use the following link to access the full OM: https://www.crexi.com/properties/503760/california-lowes