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|Current / Passing Rent||
|Remaining Term||14 years, 7 months|
|Tenant||Smart & Final Stores LLC|
|Guarantor||Smart & Final LLC|
JLL is pleased to offer for sale the fee simple interest in a Smart & Final located in Palmdale, 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 was renovated and demised in 2016 to suit Smart & Final's typical floor size, and the remaining 17,300 SF is subleased to Dollar Tree (S&P: 'BBB-'), a nationally recognized retailer that will draw greater customer traffic volumes to the area. As an anchor to Quartz Hill Plaza, the Property sits within a 96% leased shopping center with a tenant roster that includes Carl's Jr., Del Taco, Little Caesar's Pizza, and AutoZone.
- 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.
- No grocery stores within a 2-mile drive, offering significant market share and minimal competition.
- 18% unit-level sales growth at this location since 2017.