$2,008,000 / 6.5 Cap Two Tenant Retail Building/Absolute Triple Net Investment O Reilly Auto Parts Corporate NNN & Hong Kong Kitchen NNN 310 E. Florence Blvd. (Highway 287), Casa Grande AZ Absolute Triple-Net (NNN) Corporate lease with O Reilly Auto Parts (NASDAQ:ORLY), (S&P: BBB), a Fortune 500 company, is the second largest auto parts chain in the United States, operating more than 4,257 stores in 42 states; the company produced revenues in excess of $7.07 billion for 2014 & Hong Kong Kitchen NNN Lease with personal guaranty. O Reilly has just under 11 years remaining with 3, 5 year options. Hong Kong Kitchen signed new 7 year lease as of 1/1/2015 with a 5 year option. O Reilly Auto Part has rent increases each 5 years including options. O Reilly Auto Parts has been at this location since 1993 & Hong Kong Kitchen since 2003. Located at 310 E. Florence Blvd., the main thoroughfare which runs east-west through the city of Casa Grande. The property is minutes from access to Interstate-10 which connects Phoenix with Tucson, the two largest cities in the state of Arizona. This information is being provided with the understanding that all negotiations relating to the lease and/or purchase of the property shall be conducted through, L.L.C. The information contained herein has
Executive Summary Property Address: 310 E. Florence Blvd., Casa Grande, Arizona Price: $2,008,000 Cap Rate: 6.5 on $130,517.64 current rent (O Reilly $7,376.47 & Hong Kong Kitchen $3,500.00 per mo.) Building Size: ±11,650 SF (O Reilly ± 9,170 SF & Hong Kong Kitchen ± 2,480 SF Land Area: ±41,818 SF Tenants: Guarantor: Lease Type: O Reilly Auto Parts (NASDAQ: ORLY) and Hong Kong Kitchen O Reilly Auto Parts (NASDAQ: ORLY) and Personal Guarantee with Hong Kong Kitchen Absolute NNN Leases Lease Term: O Reilly: 10 Years 9 Months Remaining. Hong Kong Kitchen: 5 Years 9 Months Remaining Lease Commencement Date: O Reilly: January 31, 2012. Hong Kong Kitchen: 11/2003, renewed January 1, 2015 Lease Expiration Date: O Reilly: January 31, 2027. Hong Kong Kitchen: December 31, 2022 Rent Increases: O Reilly: 6% every 5 Years including options: Hong Kong Kitchen: None Renewal Options: O Reilly: 3, 5 Year Options. Hong Kong Kitchen: 1, 5 Year with 3% Annual Increases
$2,008,000 / 6.5 Cap Two Tenant Retail Building/Absolute Triple Net Investment O Reilly Auto Parts Corporate NNN & Hong Kong Kitchen NNN 310 E. Florence Blvd. (Highway 287), Casa Grande AZ This information is being provided with the understanding that all negotiations relating to the lease and/or purchase of the property shall be conducted through, L.L.C. The information contained herein has
This information is being provided with the understanding that all negotiations relating to the lease and/or purchase of the property shall be conducted through, L.L.C. The information contained herein ha
SUBJECT SUBJECT E. Florence Blvd. This information is being provided with the understanding that all negotiations relating to the lease and/or purchase of the property shall be conducted through, L.L.C. The information contained herein has
About Casa Grande Casa Grande is a dynamic, involved community, a modern city with rural heritage and old-fashioned values. Its economic base is a mix of retail trade, factory outlet shopping, manufacturing and agriculture. Founded in 1879, Casa Grande was named for the famous Hohokam Indian Ruins 20 miles to the northeast. Midway between Phoenix and Tucson, the city has grown to be the largest community in western Pinal County since its incorporation in 1915. Principal Economic Activities Casa Grande is strategically located at the intersection of two interstate highways (I-8 and I-10) in an area known as Arizona's Golden Corridor. Once dependent on agriculture and mining, the community has evolved into a diversified full-service area with manufacturing, retail trade, government and tourist-related employment. All of Pinal County is a designated Enterprise Zone. Scenic Attractions Casa Grande's location, mild climate, and scenic attractions make it attractive to tourists and winter visitors. The Casa Grande Valley Historical Museum offers many historical displays and facts about the area. The unique architecture of the historical railroad station and other historic buildings can be enjoyed on a walking tour of Casa Grande. Named a Main Street city in 1992, Casa Grande is revitalizing the unique downtown area. The Casa Grande Art Museum hosts a number of shows each year featuring sculpture, water-color, multimedia and Western art by Arizona artists. The Casa Grande Valley Players will begin a new season of community theater. The city is also the home of the Arizona State Open Chili championship held every March. The annual O'Odham Tash Celebration, a gathering of tribes, is held in mid-february and features Native American arts and crafts, ceremonial dances, rodeos, powwows and parades. Shopping and Entertainment Casa Grande s market area consists of more than 91,000 consumers. Casa Grande is the retail center for western Pinal County s consumers, including local retailers, specialty stores, antiques stores, and outlet shopping. Local retailers include: JC Penney; Target; Staples; Dillard s; Walgreen s; Bedmart, Inc.; Kmart; Wal-Mart Supercenter; Foxworth Galbraith Lumber Company; Second Skin; Reva s Western Wear; Lowe s Store #2272; Gotcha Covered; Office Max, Warehouse Furniture Outlet; and numerous specialty retailers. Albertson s, Food City, Fry s Food Stores of Arizona, Inc. and Safeway, as well as several other grocery stores, serve the citizens of the area. Casa Grande is also the site of the Outlets at Casa Grande, with more than 42 quality retail outlet stores, which attracts more than two million shoppers per year. Our prize-winning Casa Grande Main Street historical shopping district offers many unique shops for that one-of-a-kind gift. Casa Grande s newest addition is its 1,000,000-square-foot shopping mall, The Promenade at Casa Grande, which includes a number of well-known national retail stores and restaurants and a multi-plex movie theater. In short, you can find everything for your family, home, office and gift-giving needs in Casa Grande!