211 WEST BIRCH STREET | CALEXICO, CA 92231 EXCLUSIVELY LISTED INVESTMENT OFFERING RITE AID INVESTMENT OPPORTUNITY Presented By NICHOLAS W. PRICE Senior Vice President D 619-297-0055 x303 [email protected]CA DRE Lic. #01773111 JASON STUART PONGSRIKUL Managing Principal D 619-297-0055 x302 [email protected]CA DRE Lic. #01918332 Pharma Property Group | 5328 Banks Street, Suite B | San Diego, CA 92110 | 619.297.0055 | www.pharmapropertygroup.com
Transcript
211 WEST BIRCH STREET | CALEXICO, CA 92231
E X C L U S I V E L Y L I S T E D I N V E S T M E N T O F F E R I N G
RITE AID INVESTMENT OPPORTUNITY
Presented By
NICHOLAS W. PRICESenior Vice PresidentD 619-297-0055 x303
Investment HighlightsSTABLE INCOMERental income guaranteed by Rite Aid parent corporate (S&P B Stable) investment grade Fortune 500 Company with over 4,500 locations.
LEASE TERM REMAINING There are currently 9 years remaining on a double net lease with six (5 year) options and increases. Options begin in 2027.
HIGH PROFILE BORDER LOCATIONThe subject property is located 1.5 miles from the United States/Mexico border where approximately 7.1 million cars and 4.4 million pedestrians cross into and out of the United States annually. HIGH TRAFFIC CORRIDORThis Rite Aid is located in the heart of Calexico at the NWC of Imperial West Avenue (Highway 111 - ±32,000 cars per day) and West Birch Street (Highway 98 - ±26,774 cars per day) with traffic counts of ±50,000 cars per day.
LIMITED DRUGSTORE COMPETITIONThis is the only standalone, national chain drugstore in the Calexico. Closest Walgreens and CVS locations are over 7 miles away.
RARE 10% INCREASE IN FIRST OPTIONRental increases are approximately 10 percent (10%) at the first option and five percent (5%) every five (5) years during the options. Current annual rent is $404,250, increasing to $444,675 in 2026. Please see the Rent Schedule (Page 3) for further information on the increases.
RETAIL SHOPS AND OUTLETSSubject property is an out-parcel of a shopping center anchored by Food-4-Less with other tenants including Starbucks, Forever21 and Carl's Jr. Just 1.5 miles away is the Gran Plaza Outlets, a 700,000 square foot outdoor outlet mall anchored by Coach, H&M, Old Navy, Sketchers, Nike, Michael Kors, Guess, and Banana Republic.
SUBJECTPROPERTY
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211 WEST BIRCH STREETCALEXICO, CA 92231
Nick Price | Senior Vice President619-297-0055 x303 | [email protected]
Jason Stuart Pongsrikul | Managing Principal619-267-0055 x302 | [email protected]
Lease OverviewTenant:RITE AID (NYSE: RAD)
Landlord Income: CORPORATE GUARANTEE
Credit Rating: INVESTMENT GRADE, B STABLE (S&P)
Lease Type: DOUBLE NET LEASELandlord responsible for roof and structure.
Lease Term: 9 YEARS REMAINING WITHSIX 5 YEAR OPTIONS TO FOLLOW
Nick Price | Senior Vice President619-297-0055 x303 | [email protected]
Jason Stuart Pongsrikul | Managing Principal619-267-0055 x302 | [email protected]
Property Photos
GRAND PLAZA OUTLETS700,000 SF MALL
CALEXICO INTERNATIONAL AIRPORTUS/MEXICO BORDER
EAST BIRCH STREET - 26,774 CARS PER DAY
IMPERIAL AVENUE
32,000 CARS PER DAY
IMPERIAL AVENUE 32,000 CARS PER DAY
EAST BIRCH STREET - 26,774 CARS PER DAY
SUBJECTPROPERTY
US/MEXICO BORDER
SUBJECTPROPERTY
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211 WEST BIRCH STREETCALEXICO, CA 92231
Nick Price | Senior Vice President619-297-0055 x303 | [email protected]
Jason Stuart Pongsrikul | Managing Principal619-267-0055 x302 | [email protected]
Location Aerial
SUBJECTPROPERTY
AREA HIGHLIGHTS• US Customs and Border
(7 million cars and 4.4 million pedestrian crossings annually)
• Calexico International Airport (±12,240 aircraft operations)
• Gran Plaza Outlets (700,000 square foot outdoor outlet mall)
• Across from Mexicali, Mexico (±1,000,000 population)
• San Diego State University - Imperial Valley Campus (±1,000 students enrolled)
US/MEXICO BORDERUS CUSTOMS &BORDER PROTECTION
CALEXICOINTERNATIONAL
AIRPORT
GRAND PLAZA OUTLETS700,000 SF MALL
SUBJECTPROPERTY
222 miles
122 milesCALEXICO, CA56 miles
CALEXICOHIGH
SCHOOL
JEFFERSONELEMENTARY
SCHOOL
CESAR CHAVEZELEMENTARY
SCHOOL
WILLIAM MORENOJR HIGH SCHOOL
CALEXICOOUTPATIENT
CENTER
DE ANZA9TH GRADE ACADEMY
DOOLELEMENTARY
SCHOOL
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211 WEST BIRCH STREETCALEXICO, CA 92231
Nick Price | Senior Vice President619-297-0055 x303 | [email protected]
Jason Stuart Pongsrikul | Managing Principal619-267-0055 x302 | [email protected]
Demographic Snapshot | 2017 Estimate
36.20
35.10
34.70
3 Mile
s
1 Mile
5 Mile
s
Average Age18
,718
40,58
9
48,19
15 M
iles
3 Mile
s
1 Mile
Total Population
5,148
10,70
4
12,53
85 M
iles
3 Mile
s
1 Mile
Total Households
$46,5
97
$50,
970
$52,7
52
3 Mile
s
1 Mile
5 Mile
s
Average Household Income
Disclaimer: This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage, age, distances, lot size, store opening dates, demographic information, aerial information, tenant information & store operating information are approximate.
Buyer and their representatives understands that Rite Aid tenant information was gathered by sources deemed to be reliable including Rite Aid public quarterly and annual reports. Demographic information was provided by Nielsen Information Systems.
By accepting this package, buyer and their representatives must verify the information and bears all risk for any inaccuracies.
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211 WEST BIRCH STREETCALEXICO, CA 92231
Nick Price | Senior Vice President619-297-0055 x303 | [email protected]
Jason Stuart Pongsrikul | Managing Principal619-267-0055 x302 | [email protected]
Investment Property Recap
Lease Overview
PricingPrice: $6,910,256
Total Monthly Income: $33,688
Total Annual Income: $404,250
Tenant:Rite Aid (NYSE: RAD)
Landlord Income: Corporate Guarantee
Credit Rating: Investment Grade, B Stable (S&P)
Lease Type: Double NET LeaseLandlord responsible for roof and structure.
Lease Term: 9 years remaining with Six (5 year) options to follow
Next Option Begins: February 1, 2027
Year Built: 2006Total Lot Size: 88,862 Square FeetTotal Building Size: 17,272 Square Feet
211 WEST BIRCH STREETCALEXICO, CA 92231
Cap Rate: 5.85%
SUBJECTPROPERTY
IMPE
RIAL
AVE
NU
E
32,0
00 C
ARS
PER
DAY
EAST BIRCH STREET - 26,774 CARS PER DAY
5328 Banks Street, Suite BSan Diego, California 92110
www.pharmapropertygroup.com
211 WEST BIRCH STREET | CALEXICO, CA 92231
E X C L U S I V E L Y L I S T E D I N V E S T M E N T O F F E R I N G
NICK PRICESenior Vice PresidentD 619-297-0055 x303
