FOR SALE > REGIONAL RETAIL SHOPPING CENTER 99 Cents/Sears ...
5
AGENT: STEVE RONTELL 559 221 1271 | EXT. 113 [email protected] License No. 00932510 Property Features > 100% Leased! Under-Market Rents! > “99 Cents Only Stores” Anchor w. Approx. 400 Stores! > Regional West Shaw Shopping Area. > Near Costco, Winco, Walmart and other National Chains. > Strong NW Fresno Housing Growth. > “Sears Outlet” Stores with 143 Units! > High Visibility, Ample Parking, Easy Access. > Fresno is the 5th Largest City in California. > Only $96.02/SF and Under Replacement Cost! COLLIERS INTERNATIONAL 7485 N. Palm Avenue, #110 Fresno, CA 93711 www.colliers.com/fresno FOR SALE > REGIONAL RETAIL SHOPPING CENTER 99 Cents/Sears Outlet Shopping Center FRESNO, CALIFORNIA SHAW AVE SHAW AVE $5,495,000 (Only $96/SF!) 7.29% Cap Rate REDUCED!
Transcript of FOR SALE > REGIONAL RETAIL SHOPPING CENTER 99 Cents/Sears ...
AGENT: STEVE RONTELL
559 221 1271 | EXT. 113
License No. 00932510
Property Features
> 100% Leased! Under-Market Rents!
> “99 Cents Only Stores” Anchor w. Approx. 400 Stores!
> Regional West Shaw Shopping Area.
> Near Costco, Winco, Walmart and other National Chains.
> Strong NW Fresno Housing Growth.
> “Sears Outlet” Stores with 143 Units!
> High Visibility, Ample Parking, Easy Access.
> Fresno is the 5th Largest City in California.
> Only $96.02/SF and Under Replacement Cost!
COLLIERS INTERNATIONAL
7485 N. Palm Avenue, #110
Fresno, CA 93711
www.colliers.com/fresno
FOR SALE > REGIONAL RETAIL SHOPPING CENTER
99 Cents/Sears Outlet Shopping CenterFRESNO, CALIFORNIA
SHAW AVESHAW AVE
$5,495,000(Only $96/SF!)
7.29% Cap Rate
REDUCED!
FOR SALE > Property SummaryLocation: West of the Northwest corner of Shaw and Brawley Avenues, Fresno, CA
APN: 509-091-16, County of Fresno
Parcel Size: 4.05 acres
Building Size: 57,224 SF
Year of Construction: 1995
Zoning: RMX - Regional Mix Use
Customer Traffi c: Shaw Avenue: 35,000 cars per day
Customer Demographics: Population Avg. HH Income Daytime Pop. 1 Mile: 14,790 $58,519 5,520 2 Miles: 130,727 $72,519 31,664 3 Miles: 235,175 $67,855 77,225 4 Miles: 617,449 $64,505 217,826 5 Miles: 896,047 $68,273 281,545 www.fresno.gov www.fresnoedc.com www.fresnochamber.com www.playfresno.org
Asking Price: $5,700,000 (Only $99.61/SF!) Reduced $5,495,000 ($96.02/SF)
99
MR
AKS
AV
EM
RA
KS
AV
E
SHAW AVESHAW AVE
BR
AW
LE
Y A
VE
BR
AW
LE
Y A
VE
SHAW AVE
AGENT: STEVE RONTELL
559 221 1271 | EXT. 113
License No. 00932510
COLLIERS INTERNATIONAL
7485 N. Palm Avenue, #110
Fresno, CA 93711
www.colliers.com/fresno
FOR SALE > Property Photos99 CENTS/SEARS OUTLET SHOPPING CENTER | FRESNO, CA
AGENT: STEVE RONTELL
559 221 1271 | EXT. 113
License No. 00932510
COLLIERS INTERNATIONAL
7485 N. Palm Avenue, #110
Fresno, CA 93711
www.colliers.com/fresno
99 Cents Only Store Sears Outlet
99 Cents Only Store - Rear Loading Sears Outlet - Rear Loading
Tire & Wheel Outlet Tire Store Pylon Sign
99 Cents Only Store - Monument Sign Billboard Tenant
FOR SALE > Tenant Summaries99 CENTS/SEARS OUTLET SHOPPING CENTER | FRESNO, CA
99 Cents Only Stores is a privately-held American price-point retailer chain based in Commerce, California. Founded by David Gold on February 28, 1969, most of the stores are located in Southern California, with others in Nevada, Texas and Arizona. The company also operates Bargain Wholesale, which sells wholesale to retail-ers across the United States and exports to more than 15 countries from showrooms in Los Angeles. In Oc-tober 2011, the company agreed to a $1.6 billion buy-out by private equity fi rm Ares Management and the CPP Investment Board. The deal was completed on January 13, 2012. The Company currently operates 391 stores located in California, Texas, Arizona and Nevada. 99 Cents Only Stores LLC off ers a broad assortment of name brand and other attractively priced merchandise and compelling seasonal product off erings. 99 Cents Only Stores are a shopping destination - often the fi rst stop - for price-sensitve consumers, and a fun treasure-hunt shopping experience for other value conscious consumers. The stores are attractively merchandised, clean, full-service shopping destinations that off er customers signifi cant value on a wide selection of quality products from everyday household items to fresh produce to an exciting assortment of seasonal and party merchandise including decorations, costumes and gifts. Merchandise encompasses name-brand closeouts and regularly available food and beverage products such as produce, deli, and other basic grocery items. www.99only.com
Sears Hometown and Outlet Stores, Inc. is an American retail company that sells home appliance, lawn and garden equipment, apparel, mattresses, sporting goods and tools. The company has four subsidiary store for-mats: Sears Hometown, Sears Outlet such as the single unit in Fresno, Sears Hardware and Appliance, and Sears Home Appliance Showrooms. Sears Hometown and Outlet Stores is based in Hoff man Estates, Illinois. Sears Hometown and Outlet Stores was founded on April 23, 2012. The company was spun off from Sears Holdings in 2012. Revenues in 2017 were in excess of $1.7 billion. Sears Outlet Store is an outlet version of Sears department stores located in various retail locations across the U.S., as well as online. The stores sell appliances, apparel, mattresses, sporting goods, tools, and lawn and garden equipment. Sears Outlet provides in-store and online access to new, one-of-a-kind, out-of-carton, discontinued, obsolete, used, reconditioned, overstocked, and scratch-and-dented merchandise at a discounted price (at twenty to sixty percent off regular retail price). The majority of Sears Outlet stores are company-operated (115 units including Fresno) and 28 Sears Outlet stores are operated by franchisees. Quoted from the Sears Hometown and Outlet website...”Our Outlet stores are designed to provide our customers with in-store and online access to new, one-of-a-kind, out-of-carton, discontinued, used, reconditioned, overstocked, and scratched and dented products across a broad assortment of merchandise categories, including home appliances, lawn and garden equipment, apparel, mattresses, sporting goods and tools at prices that are signifi cantly lower than manufacturer’s suggested retail prices.” www.shos.com NASDAQ: SHOS
Outfront Media Inc. is one of the largest out-of-home billboard media companies in North America. From Sun-set Boulevard to Times Square, their diverse portfolio includes more than 400,000 digital and static displays. Outfront Media has displays in 140 markets across the U.S. and Canada. www.outfrontmedia.comNYSE: OUT
AGENT: STEVE RONTELL
559 221 1271 | EXT. 113
License No. 00932510
COLLIERS INTERNATIONAL
7485 N. Palm Avenue, #110
Fresno, CA 93711
www.colliers.com/fresno
Tire and Wheel Outlet is a competitively-priced discount tire and wheel store that also performs full auto ser-vice and repairs. They have locations in Fresno, Modesto and Stockton, California and also under Tire Wheels Depot. Their website is www.twoutlet.com
FOR SALE > Financial Information99 CENTS/SEARS OUTLET SHOPPING CENTER | FRESNO, CA
ADDRESS
W.
SHAW
AVE TENANT
MONTHLY
RENT
SQUARE
FEET
RENT
PER
SF/MO
RENT
INCREASES
LEASE
START
DATE
LEASE
EXP.
DATE OPTION(S)
DEPOSITS
HELD
4170 99 Cents Only Stores $12,265.53 23,027 $0.53/mo N/A 05/01/2011 12/31/2023 4-5yr Options1/1/2024$13,126.611/1/2029
$14,045.091/1/203490% FMV1/1/203990% FMV
Has 1st Right of Refusal to
Purchase
$0.00
4150 Sears Outlet $17,521.00 28,997 $0.60/mo N/A 08/04/2014 12/31/2020 2-5yr Options1/1/2021
$19,285.001/1/2026$21,218.33
$0.00
4130 Tire & Wheet Outlet $6,000.00 5,200 $1.15/mo N/A 04/01/2014 03/31/2019 N/A $6,000.00
ParkingLot
OUTFRONT Media (billboard sign on a ground lease)
$500.00($6,000/yr, paid every
January 1st)
N/A N/A N/A 04/05/2005 mo-to-mopaid
annually
N/A $0.00
TOTALS $36,286.53 57,224 SF
• The three building leases are NNN.• NNN is less than $0.20 PSF/Mo. currently.• Priced at $96.02/SF....under replacement cost!
Total Pro Forma Monthly Rent $ 36,286.53 x 12 MonthsPro Forma Annual Rent $435,438.36/yr.Minus 5% Vacancy Factor <$ 21,771.92>Minus 3% Reserves <$ 13,063.15>Adjusted Total Rent $400,603.29
Cap Rate - 7.29% Price (Reduced) $5,495,000
This document has been prepared by Colliers International for advertising and general information only. Colliers International makes no
guarantees, representations or warranties of any kind, expressed or implied, regarding the information including, but not limited to, war-
ranties of content, accuracy and reliability. Any interested party should undertake their own inquiries as to the accuracy of the informa-
tion. Colliers International excludes unequivocally all inferred or implied terms, conditions and warranties arising out of this document and
excludes all liability for loss and damages arising there from. This publication is the copyrighted property of Colliers International and/or
its licensor(s). ©2018. All rights reserved. Disclosures: Seller is also a licensed real estate broker in the State of California. 99 Cents
Only Store has a fi rst right of refusal to purchase.
Steve RontellSenior Vice President
Colliers International
7485 N. Palm Avenue, #110
Fresno, California 93711
559 221 1271 ext.113
