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OFFERING PRICE:
$3,480,000
CAP RATE (YEAR 1):
7.20%
TOTAL BUILDING AREA:
±28,084 SF
TOTAL LAND AREA:
±152,024 SF
(±3.49 Acres)
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INVESTMENT HIGHLIGHTS
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Two National NNN Tenants – 100% leased to two national tenants on corporate leases:
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Big 5 Sporting Goods is a leading sporting goods retailer in the western United States, operating 430 stores. Big 5 is publicly traded (NASDAQ: BGFV) with a market capitalization exceeding $697 million, having generated more than $1.1 billion in revenue in the last 12 months, 25.3% from prior year
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Work World is dedicated to serving the work and casual clothing needs of all working people and has grown to 23 locations across California and Nevada over the last 27 years
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Long-Term Leases – Work World is a brand-new 10-year lease and Big 5 is on long term 11-year lease (3 years remaining), both tenants with multiple 5-year options to extend
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High Yield, Low Price PSF Investment – At the 7.20% cap rate and $124 PSF list pricing, Big5 Sporting Goods and Work World provides superior cash on cash yields at a significant discount to its land inclusive replacement cost – all with corporate tenancy
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Best of Class Asset – Merced Marketplace is arguably the highest quality retail center in the Merced trade area given its architecture, well-maintained condition with limited deferred maintenance, and national and regional brand tenancy
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Convenient Location with Tremendous Access – Strategically located along Olive Ave (37,794 cars per day), the major east/west thoroughfare in the trade area |
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FOR MORE
INFORMATION
PLEASE CONTACT:
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THIS IS A MARKETING COMMUNICATION
We obtained the information above from sources we believe to be reliable. However, we have not verified its accuracy and make no guarantee, warranty or representation about it. It is submitted subject to the possibility of errors, omissions, change of price, rental or other conditions, prior sale, lease or financing, or withdrawal without notice. We include projections, opinions, assumptions or estimates for example only, and they may not represent current or future performance of the property. You and your tax and legal advisors should conduct your own investigation of the property and transaction.
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Ultimately, occupiers and landlords must make and implement their own reopening decisions for their individual stakeholders and facilities. CBRE's guidance is intended to help facilitate those discussions and expedite the implementation of those decisions once made by the client. We make no representations or warranties regarding the accuracy or completeness of these materials. CBRE cannot ensure safety and disclaims all liability arising from use of these materials.
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