30472 Haun Rd, Menifee, CA 92584

13.0 acres of land, ground leased to Lowe’s Home Improvement at Countryside Marketplace, located in Menifee, California (Inland Empire MSA). The Tenant occupies a 139,410 Square Foot building within one of the largest, and most dominant, Retail Destinations in California’s Inland Empire. Additional features include:
• Fee Simple Interest in a Long Term Ground Lease. The Property offers a very passive, management free, investment opportunity. Lowe’s built the Property in 2008 and is responsible for all repairs and maintenance to the improvements and also manages the common area.
• Rare Opportunity to Acquire One of the World’s Strongest Brands on a Long Term Ground Lease. Lowe’s Companies, Inc. (NYSE:LOW) is an investment grade tenant (S&P BBB+) and is one of the top retailers, and one of the strongest brands, in the world. They are number 39 in the Fortune 500 rankings for 2023 and is the 2nd largest hardware chain in the world, only behind rival The Home Depot. Headquartered in Mooresville, North Carolina, Lowe’s opened its first location in 1921 in Wilkesboro, North Carolina. The Company currently operates over 1,700 home improvement and outlet stores in the United States, representing approximately 195 million square feet of retail selling space. Only approximately 11% of Lowe’s locations within their portfolio are leased. The Company owns the remaining 89% of its stores, which includes stores on leased land. Lowe’s recently reported Net Sales of $86.4 Billion and Net Earnings of 7.73 Billion 2023, increasing 20% from prior year 2022.
• Premier, Institutional Grade, Community Shopping Center. The Property is located within a 100% occupied, 721,858 square foot Community Shopping Center co-anchored by a “blue-chip” roster featuring many of the most dynamic retailers in the country including, but not limited to, Super Target, Kohl’s, Best Buy, T.J. Maxx, HomeGoods, Michaels, Burlington, Staples, Petco and Ulta Beauty. The eleven (11), Major/Anchor Tenants account for almost 80.0% of the Total Gross Leasable Area of the Center, with Lowe’s accounting for nearly 20%.
• Highly Visible and Easily Accessible. Located on Newport Road (+/- 31,000 VPD), adjacent to one (1) of only four (4) on/off ramps to Interstate 215 (+/- 100,000 VPD) within Five (5) Miles in each direction, the Shopping Center boasts approximately 2,800 feet of frontage along Interstate 215 with four (4) points of ingress and egress including three (3) signalized intersections along its perimeter.
• Offered at Less than Current Land Value. Due to Lowe’s paying for 100% of the improvements, their base annual rent is a fraction of current market lease rates and results in the Property being offered for less than today’s land value.
• Dominant Market Position. Over 1.0 Million Square Feet of GLA at this intersection making the Property within one of the largest and most dominant open-air shopping centers in the entire Inland Empire trade area. Additional regional and national retailers at this intersection include: Ross Dress For Less, PetSmart, Ralphs Grocery, ALDI Grocery, and many others.
• Favorable Trade Area Demographics. Located in one of the more affluent trade areas within the Riverside County. Within a 3-mile radius, the 2023 Estimated Average Household Income is $105,156 and within a 3-mile radius the 2023 Estimated Population is 73,871.