Albertsons | Walla Walla, Washington

Retail

450 N. Wilbur Avenue Walla Walla, WA
Price:
$ 16,346,227
Property Size:
60,026 sqft
Cap Rate:
5.25
NOI:
$ 858,177
Lot Size:
4.70 acres
Status:
Sale

3RD LARGEST GROCER IN U.S. | $62.5 BILLION IN FY 2019 | 33 MILLION WEEKLY CUSTOMERS
Albertsons Companies is a leading food and drug retailer with 2,252 retail store locations, 402 fuel stations, 1,726 in-store pharmacies, 23 distribution centers and 20 food and beverage plants. The dominant grocer maintains #1 or #2 market share in 68% of the MSAs in which it operates across 34 states. For fiscal year 2019, Albertsons (S&P: B+ Stable) generated revenues of approximately $62.5 billion, making it the 3rd largest grocer in the U.S.

LONG TERM COMMITMENT | FIXED 2% ANNUAL RENTAL INCREASES | PASSIVE NNN LEASE
Albertson’s LLC signed a long term lease in June 2016 and currently has 14.7 years remaining in the primary term, with two (2) ten (10) year options to extend. With 2% annual rental increases and a passive NNN lease, the property is ideal for both local and out-of-area investors.

PROMINENT RETAIL CORRIDOR IN WALLA WALLA | HIGHLY VISIBLE & EASILY ACCESSIBLE SITE
The subject property is strategically positioned within the Eastgate Marketplace Shopping Center with national & regional retailers including Staples, Harbor Freight Tools, and Cascade Farm & Outdoors. Albertsons is easily accessible from Highway 12 off N Wilbur Ave or via E Isaacs Ave via five (5) points of ingress/egress around the center’s perimeter. Additional major retailers in the trade area include Walmart Supercenter, Safeway, Grocery Outlet, Home Depot, Dollar Tree, Rite Aid, Hobby Lobby, Marshalls, Ross Dress for Less, Sportsman’s Warehouse, Bed Bath & Beyond, Famous Footwear, Kmart, and many others.

SOUTHEAST WASHINGTON LOCATION | NO STATE INCOME TAX
Walla Walla is in southeast Washington at the base of the Blue Mountains and the city serves as the hub of Walla Walla County’s economy with a diverse mix of healthcare institutions, industrial manufacturing, agriculture, tourism, and higher education facilities. The city is known for wine production, with over $100 million in revenue directly related to the wine industry on an annual basis. The state’s favorable tax climate, with no personal income tax, makes it a desirable market for net lease investors.

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The information contained herein has been obtained from sources deemed reliable or implied, is made with respect to such information. Terms of sale or lease and availability are subject to change or withdrawal without notice.

Exclusive Listing

Matt Berres
Executive Managing Director
949.608.2066
Karick Brown
Associate
949.608.2033
Samir Khalil
Director
949.608.2042
Paul Sleeth
Executive Managing Director
206.518.9547
Billly Sleeth
Executive Managing Director
206.518.9567

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