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Property Overview
Price/Rent PSF $ 7,405,714.00
Asset Type Industrial
Trade Type Sale
SQ. FT. Available 24,000
Date Available 08/16/2018
Additional URL Link
Parking 61
Floors 1
Additional parameters Show
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Description

Location
Just minutes from I-680 & HWY 242. The surrounding mixed-use industrial business park is home to a cross section of recreational sports businesses, home improvement showrooms, and light industrial uses, all situated within minutes of the freeway. Nearby retail is locatedat the Willows Shopping Center and the brand new Veranda life-style shopping and entertainment center, opened 2018, which includes retail, movie theater, restaurants, food & beverage retail. The property is less than one mile from Sun Valley Mall, the East Bay’s largest covered Shopping Mall.

Sale
A rare high-cap San Francisco Bay Area NNN opportunity for investors with quick-close capabilities, driven by the Seller’s immediate 1031 exchange opportunity. This offering provides a highly desirable long-term cash flow, from an established leading brand in the indoor trampoline recreational sector. The asset comprises a centrally located single tenant NNN leased warehouse on a long-term commitment to Sky High Sports Concord, LLC for 15 years. The original lease commenced March 1, 2010 and a new lease was signed May 1st, 2017 to April 30th, 2032 (14 years remaining) with scheduled rent increases on May 1, 2022 and May 1, 2027.

Long Term (NNN) Leased Investment - 14 years remaining, rent increases 2022, 2027
Tenant reimburses Landlord costs for structure/roof, common operating expenses, building insurance, property taxes and property management
Sky High Sports has been at this location for 8 years and renewed for 15 years in 2017
Tenant is committed to the location. Within a 10 mile radius 98 elementary and middle schools - tenants target audience
No competitors within 15 miles. High barriers to entry due to zoning. Very attractive location for tenant's business

Location

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