WSS SHoes. ten Year Corporate Lease. [ Actual store ] John Andreini (415) CA BRE#

Transcription

1 WSS SHoes [ ] [ Actual store ] ten Year Corporate Lease 1528 E.Fremont Avenue, Stockton, CA John Andreini jandreini@capitalpacific.com (415) CA BRE# Bob Sanner bsanner@capitalpacific.com (415) CA BRE# Rick Sanner rsanner@capitalpacific.com (415) CA BRE#

2 PROperty Summary PRICE: $3,699,692 CAP: 6.50% Rentable SF...12,000 SF Price per SF...$ land area Acres YEAR BUILT Current Rent...$20.04/SF Lease Expiration...March 31, 2026 Location Highlights Over 29,500 vehicles per day on N. Wilson Way Less than a 90 minute drive from San Francisco Very dense population - 265,697 people within a 5-mile radius Retailers in the immediate area include Food 4 Less, Starbucks, Grocery Outlet, McDonald s, Subway, Bank of America, Bank of the West, and many other retailers Tenant highlights Revenue of $200 million in 2014 Premier footwear retailer in the U.S. doing business in neighborhood-based stores WSS is expanding store count from 66 stores to 114 stores by 2018 WSS is doing $500/SF in sales in other California stores; as a company they have limited competion Corporate Lease Brand new 10-year lease with two 5-year options 10% rental increases throughout the base term and option periods Landlord is responsible for structural components and roof Tenant is responsible for repairs, maintenance, and replacement of all interior non-structural components, and HVAC Store opened December 2015 [ surrounding retail ] WSS Shoes 2

3 aerial El Dorado Stockton Adult School E Harding Way N Wilson Way less than 90 minutes from san francisco oo terl Wa Grunsky 99 d Roa Pitman H&R BLOCK 25,900 VPD EASTLAND PLAZA SHOPPING CENTER W Fremont Street Fremont eet nt Str mo E Fre 99 5,200 VPD 5 4 King Stockton Alternative High School Spanos S Wilson Way 5 Roosevelt Hazelton 99 oulevard Dr. MLK Jr. B 5 SACRAMENTO Huerta Edison High School WSS Shoes 3

4 Surrounding Area photos Area retailers include food 4 less, Burger king, bank of the west & walgreens WSS Shoes 4

5 income & expense PRICE $3,699,692 Price Per Square Foot: $ Capitalization Rate: 6.50% Total Rentable Area (SF): 12,000 Lot Size (Acres): 1.39 Year Built: 2015 STABILIZED INCOME Per Square Foot Scheduled Rent $20.04 $240,480 LESS Per Square Foot Taxes NNN $0.00 Insurance NNN $0.00 Total Operating Expenses $0.00 EQUALS NET OPERATING $240,480 This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies. [ REPRESENTATIVE PHOTO ] [ Actual store ] WSS Shoes 5

6 rent roll TENANT INFO LEASE TERMS RENT SUMMARY Tenant Name Sq. Ft. Term Current Rent Monthly Rent Yearly Rent Monthly Rent/FT Yearly Rent/FT WSS Shoes 12, $240,480 $20,040 $240,480 $1.67 $ $22,044 $264,528 $1.84 $22.04 Option $24,248 $290,981 $2.02 $24.25 Option $26,673 $320,079 $2.22 $26.67 Current Totals: 12,000 $240,480 $20,040 $240,480 $1.67 $20.04 *Store Opened December 2015 This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies. [ Actual store ] WSS Shoes 6

7 25,900 DAILY Wilson Way site plan Fremont Street MONUMENT SIGN NOT A PART NOT A PART NAP Lindsay Street Site Plan Key Parcel outline: Land Area: Acres Building Area: 12,000 sf Ingress/Egress: WSS Shoes 7

8 tenant overview about WSS SHOES Founded in Southern California in 1984 by entrepreneur Eric Alon, WSS, or Warehouse Shoe Sales, is the premier footwear retailer in the U.S. doing business in neighborhood-based stores. The brand has concentrated on highly dense, urban areas that can support high volume sales. WSS found great success in its home base in Southern California, where they are one of Nike s biggest distributors, and started eyeing opportunities for expansion in other high-density areas. WSS currently has over 70 stores in California, Nevada & Arizona. All WSS stores features large stores with the entire stock of styles and sizes on the sales floor available to customers to browse and select athletic, dress, and casual and work shoes from name brand manufacturers REVENUE $200 MILLION TENANT NET WORTH $28 MILLION [ Actual store ] WSS Shoes 8

9 location & demographics 25,900 DAILY About Stockton Stockton is a city in and the county seat of San Joaquin County, California. It is the 4th largest city in the Central Valley of California, and the 13th most populous city in the state. Stockton is along Interstate 5, State Route 99, and State Route 4 - amid the farmland of the Central Valley. The San Joaquin River connects it westward with the San Francisco Bay Area. In and around Stockton are thousands of miles of waterways and rivers that make up the California Delta. Stockton is centrally located with access to the national railroad system, an international deep-water port, and both interstate and intrastate freeways. The city also offers relatively inexpensive land costs, all of which contribute to why so many companies have chosen to base their regional operations in Stockton. Population 1-Mile 3-Mile 5-Mile , , , , , , , , , Household incomes 1-Mile 3-Mile 5-Mile Average $44,482 $45,169 $53,693 Top Employers Employer # of Employees San Joaquin County 5,938 Port of Stockton 4,500 Stockton Unified School District 4,000 St. Joseph s Medical Center 2,230 OG Packing 2,001 san francisco Stockton WSS Shoes 9 (Sou

10 A unique HUMAN RESULTS-DRIVEN client experience The capital pacific experience - our daily commitment to our clients [ ] [ actual store - packed parking Lot ] John Andreini jandreini@capitalpacific.com (415) CA BRE# Rick Sanner rsanner@capitalpacific.com (415) CA BRE# Bob Sanner bsanner@capitalpacific.com (415) CA BRE# [ Copyright 2015 Capital Pacific ]