Investment Highlights
Hybrid Asset: Combining Single-Tenant Quality with Multi-Tenant Income Diversity
Embedded Rent Increases ? Each lease includes embedded rent increases, serving as a hedge against inflation.
Freeway Pylon Sign ? The property features a prominent freeway sign visible to over 100,000 CPD along the I-210 corridor.
Below Market Leases ? The average restaurant lease rate for the center is is $68,279/Yr., well below the market lease rate of $90,000 to $150,000/Yr.
Development Opportunity ? This property offers a unique opportunity for an investor to develop the ?1.5 acres of land.
Separately Parceled ? Each asset is individually parceled and offers flexibility for future disposition strategies.
Executive Summary
Progressive Real Estate Partners is pleased to present the opportunity to acquire 4 separately parceled single tenant net lease (STNL) assets and approximately 1.5 acres of land ready for future development. Tenants include IHOP (corporate), Wienerschnitzel (corporate), Taco Bell (franchisee), and a successful, independent 76 service station. The restaurant leases feature an average lease rate of only $68,279/Yr., well below the current market rate of $90,000 to $150,000/Yr. and offering investors major upside potential upon lease renewals. This property boasts a prominent freeway pylon sign, adjacency to the E Highland Ave exit of the I-210 freeway, and positioning on the path to key traffic generators in the area, notably the Yaamava? Resort & Casino and the San Bernardino Soccer Complex. This investment is a unique opportunity to acquire an asset that possesses the tenant quality typically found in STNL deals while maintaining the income diversity commonly associated with multi-tenant properties.
