Ten-X is pleased to present the opportunity to acquire the NNN leased corporate Grocery Outlet Bargain Market in Oakhurst, CA. The Property is a 18,050 SF single-tenant retail asset, built in 1985 and renovated in 2013. It is located on 1.7 acres within Oakhurst’s prime retail thoroughfare. Grocery Outlet, Inc. is operating under a ten year base lease term which commenced on September 26, 2013. There are approximately 6.5 years of base lease term remaining. The Property is priced off rent effective September 26, 2018. Seller will credit the difference between current and future rent at closing. The base lease term is followed by four, 5-year option periods with 10% rental increases in each of the first two options, and an adjustment to Fair Market Rent in the remaining options. The lease limits Landlord responsibilities to the maintenance, repair, and replacement of the roof and structure, while the Tenant is responsible for utilities, taxes, insurance, and CAM expenses. The Property is strategically located in Oakhurst, CA, where the average household income is over $68,000. Grocery Outlet chose this location based on its demographics and the need for an all-purpose discount grocery store in the market. Grocery Outlet benefits from its location approximately one block north of California’s historic state route 49 (Golden Chain Highway), and 0.5 miles from California state route 41. Both routes provide access to Yosemite National Park, which attracts tourists from around the world and sees over 4 million visitors annually. Grocery Outlet, Inc. is a privately held supermarket chain that operates approximately 265 locations across California, Oregon, Washington, Idaho, Nevada and Pennsylvania. It is family owned and operated, with the majority of locations independently operated by locally based families.
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Retail Space
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