Property details
Kroger Net Lease Property For Sale, Great Lakes - Big Rivers Region
Property Description
Kroger Net Lease Property For Sale
-¢ Own The Anchor To a Kroger-Anchored Center
-¢ Large square footage grocery store
-¢ Kroger has fuel station and drive-through pharmacy providing long term stability
-¢ Kroger recently remodeled the store
-¢ Excellent sales which have increased each of the last four years (2012 sales in excess of $476/sf - does not include fuel sales)
-¢ Kroger is the dominant grocer in the regional market
-¢ Low rent (PSF shown includes fuel cost)
-¢ Kroger recently extended the lease for 10 years showing their committment to remaining in this pivotal location
This Kroger is the anchor tenant to a shopping center located along the major retail and entertainment corridor for the surrounding area. This center is Kroger-anchored featuring a Kroger with a drive-thru pharmacy and fuel station. Co-tenancy includes O'Reilly Auto Parts, Jo-Ann Fabrics, and Check -˜n Go and ACO Hardware. This center has a daily traffic count of 23,800 along a major Avenue.
About the Tenant
The Kroger Co. (NYSE:KR) is one of the nation’s largest grocery retailers, with fiscal 2011 sales of $90.4 billion. Kroger is a dominant player in Central and Southern Michigan. Kroger employs more than 339,000 associates who serve customers in 2,425 supermarkets and multi-department stores in 31 states under two dozen local banner names including Kroger, City Market, Dillons, Jay C, Food 4 Less, Fred Meyer, Fry’s, King Soopers, QFC, Ralphs and Smith’s.
Images
Highlights
- Status:
- Sold
- Price:
- $6,587,806
- PSF:
- $102
- Cap Rate:
- 6.20%
- Rent Increases:
- Flat for the base term.
Property Information
- Building Size:
- 64,562 sq.ft.
- Property Type:
- Net Lease
- Industry Type:
- Retail
- Units/Spaces:
- 1
- Purchase Tenure:
- Fee Simple
Lease information
- Tenant:
- Kroger
- Lease Type:
- NN
- Lease Commencement:
- 12/01/1994
- Lease Expiration:
- 11/30/2024
- Lease Term:
- 30 years
- Lease Remaining:
- -0.0 years
- Landlord Responsibilities:
- landlord is responsible for roof and structure (roof replaced in 2012)
- Options:
- 5, five-year options with $0.25/SF increases.
Existing financing information
- N/A
The information contained herein contains confidential and/or privileged material. Any review, retransmission, dissemination or other use of, or taking of any action in reliance upon, this information by persons or entities other than the intended recipient will be prohibited. The information contained herein has been obtained from sources believed to be reliable. While we do not doubt its accuracy, we have not verified it and make no guarantee, warranty or representation about the accuracy or completeness of the information. As a buyer, it is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. The value of this property to you depends on factors which should be evaluated by your tax, financial and legal advisors. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs. We have no knowledge of this offering other than the information received from Seller or their representatives. We are neither your agent or an agent for the seller. We will not participate in the negotiation of the purchase price or attend the showing of this property. As a buyer, you will be required to indemnify us and hold us harmless from any kind of claim, cost, expense, or liability arising out of your investigation and/or purchase of this property.