Retail

Smart & Final - Chula Vista, CA

360 E H Street Chula Vista, CA United States 91910
Asking Price
NOI Net Operating Income
Cap Rate
Asking Price
NOI Net Operating Income
Cap Rate

Documents

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Attributes

Year Built 1986
Lease Type NNN
Current / Passing Rent
Lease Expiration 2035-02-28
Remaining Term 14 years, 7 months
Tenant Smart & Final Stores LLC
Guarantor Smart & Final LLC
Building Area
Land Area
Last Updated Date 26 Jun 2020

Property Description

JLL is pleased to offer for sale the fee simple interest in a Smart & Final property located in Chula Vista, CA (the "Property"). Smart & Final is operating on an absolute NNN lease with over 14 years of primary lease term remaining, 2% annual rental escalations, and zero landlord responsibilities. The Property is an anchor to Terra Nova Plaza, a 97% leased regional shopping center that includes national retailers such as Marshalls, Bed Bath & Beyond, Dick's Sporting Goods, and CVS Pharmacy. This offering presents the opportunity to acquire a Property leased to a large grocery store operator on a long-term NNN lease within the dynamic San Diego MSA.

Investment Highlights

  • Absolute NNN lease with over 14 years of term remaining, 2% annual rental increases, zero landlord responsibilities, and a corporate guaranty from Smart & Final LLC.


  • Leased to Smart & Final - one of the largest grocery store operators in the Western United States with over 250 locations.


  • Positive unit-level sales growth each year since opening in 2016.


  • Anchor to Terra Nova Plaza, a 97% leased regional shopping center with a robust tenant roster that includes Marshalls, Bed Bath & Beyond, Dick's Sporting Goods, and CVS Pharmacy.
Nicholas Foster
Nick Foster
Senior Director, Capital Markets
License details
CA - 01831851
Adam Friedlander
Adam Friedlander
Director, Capital Markets
License details
CA - 1806555

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