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|Current / Passing Rent||
|Remaining Term||14 years, 7 months|
|Tenant||Smart & Final Stores LLC|
|Guarantor||Smart & Final LLC|
|Last Updated Date||26 Jun 2020|
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.
- 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.