26545 Highland Ave, Highland, CA 92346
20,042 SF | Retail Building | Highland, CA 92346 | $5,675,610 ($283/SF) | 5.65% Cap Rate
For Sale
Active
- Date Added:
- May 17, 2024
- Days on Market:
- 28 days
Asking Price $5,675,610
- Property Type
-
Retail
- Square Feet
- 20,042 SF
- Price / Square Foot
- $283
Listing Contacts
John Read
Verified Profile
David Swerdlow
Verified Profile
- Property Info
Property Overview
* New Long-Term Corporate Lease – Brand-new 10-year lease with Ross Dress for Less, Inc. plus four 5-year options to extend at set increases – this relocation store and long-term lease demonstrates Ross’ commitment to this highly viable retail site and trade area – store opening scheduled for October 2024
* Investment Grade, Fortune 500, Publicly Traded Company – With over 2,100 stores in the United States, Ross Stores, Inc. (NASDAQ: ROST) has a market capitalization of approximately $47 billion, revenues exceeding $20 billion, and an investment grade S&P credit rating of BBB+
* High-Performing Grocery Anchored Location – Ross invested significant capital to relocate to this site adjacent to Food 4 Less, a high performing grocery store with a recent addition of a Food 4 Less Fuel Center
* NNN Lease Structure – Property expenses including common area maintenance (CAM) costs + 10% admin., property taxes, insurance, HVAC, and signage reside with the tenant, limiting landlord responsibilities and expenses
* Newly Renovated Property – The property is being renovated for Ross’ occupancy with roof, HVAC, façade and signage improvements, limiting any near-term landlord capital requirements
*Irreplaceable, Below Replacement Cost – At listing pricing, the property would prove to be very difficult to replace at this price PSF, and given the quality of this location adjacent to one of the top performing grocers in the trade area
* Investment Grade, Fortune 500, Publicly Traded Company – With over 2,100 stores in the United States, Ross Stores, Inc. (NASDAQ: ROST) has a market capitalization of approximately $47 billion, revenues exceeding $20 billion, and an investment grade S&P credit rating of BBB+
* High-Performing Grocery Anchored Location – Ross invested significant capital to relocate to this site adjacent to Food 4 Less, a high performing grocery store with a recent addition of a Food 4 Less Fuel Center
* NNN Lease Structure – Property expenses including common area maintenance (CAM) costs + 10% admin., property taxes, insurance, HVAC, and signage reside with the tenant, limiting landlord responsibilities and expenses
* Newly Renovated Property – The property is being renovated for Ross’ occupancy with roof, HVAC, façade and signage improvements, limiting any near-term landlord capital requirements
*Irreplaceable, Below Replacement Cost – At listing pricing, the property would prove to be very difficult to replace at this price PSF, and given the quality of this location adjacent to one of the top performing grocers in the trade area
Property Details
- Year Built
- 1995
- Stories
- 1
- Lot Size (sq. ft)
- 88,427 SF
Highlights
- STNL Ross Dress for Less: 10-Year NNN Lease – Relocation Store, Grocery Anchored
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