Net Investment, Pacific West Region

Property Description

Net investment with J.C. Penney as the tenant. Net Investment grade tenant. The location, is A+. Located across from the largest mall in the city and in the heart of all of the city�s retail. The pricing makes this net investment unbelievable, $133 psf. Most net investments sell at $300 to $500 psf range. Most net investment properties are priced at above market rents, this net investment rent is below market. The intrinsics are 4.243 of land, freeway frontage, newer building, strong credit, below market rent, and way below replacement cost. Without the building or the lease you are only paying $37.87 psf for the land. The tenant has been in this location for 9 years and recently (last month) exercised their option to renew. The lease expires May 2014. This prime net investment is being sold due to illness. The City�s Transportation commission has proposed a new freeway off-ramp at this location which would drop 18 to 20,000 cars a day at this site. Access would then be through the Wild Oats.

This net investment is visible from both a major roadway and from the freeway, it is located across the street from a Mall which is a 900,000 sq ft mall with Macy's Penney's and Sears and 100 stores. Across the other street is Best Buy.

J.C. Penney is a fortune 500 company with posted revenues of 19.9 billion dollars in 2006.

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