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Swanson’s SupervaluHOQUIAM, WA
THE OFFERING provides the opportunity to acquire an exceptional single-tenant, sale-leaseback property in Hoquiam, Washington. The property is currently occupied by Swanson’s SuperValu grocery store and offers a 20-year absolute NNN lease effective upon the close of escrow. A substantial renovation was recently completed by the tenant which further increased year over year sales and the properties long term prospects.
Single Tenant Grocery Store on 20 Year Absolute NNN Lease
PAGE 3
THE OFFERINGSWANSON’S SUPERVALU
■ 20-YEAR ABSOLUTE NNN SALE-LEASEBACK, PROVIDING NO LANDLORD RESPONSIBILITY.
■ 1.5% ANNUAL INCREASES DURING THE FULL PRIMARY TERM AND OPTIONS PERIOD.
■ LOCATED DIRECTLY OFF HIGHWAY 101 WITH 16,000 VPD.
■ SERVES AS ONE OF THE ONLY GROCERS IN THE LOCAL COMMUNITY.
■ STRONG SALES WITH YEAR OVER YEAR INCREASES.
■ RECENT STORE RENOVATION AND UPGRADE DONE BY TENANT.
INVESTMENT HIGHLIGHTSSWANSON’S SUPERVALU
LEASEABLE SF 22,495 SF
LAND AREA 74,487 SF
LEASE TERM 20 Years
LANDLORD RESPONSIBILITIES None
GUARANTEE Personal
PARKING110 Spaces;4.9/1,000 SF
ADDRESSES 915 Simpson Ave.Hoquiam, WA 98550
$2,840,000PRICE
6.50%CAP
SUPERVALU, INC. IS a retailer and wholesaler of grocery products. It is currently the 5th largest food retailing company in the US and was most recently ranked in the top 250 of the 2019 Fortune 500 list. The company was bought by United Natural Foods Inc. (NYSE: UNFI), the largest distributor to Whole Foods Market and other natural food stores in the US, in 2018 for $2.3 Billion.
About Supervalu
UNFI’S NET SALES UP 18.9% YEAR OVER YEAR
18.5%OVER 20 MILLION SF OF WAREHOUSE SPACE NATIONALLY
29M
HEADQUARTERSMinneapolis, Minnesota
EMPLOYEES NATIONWIDE
29,000
2019 WAS THE 6TH CONSECUTIVE YEAR ON THE FOOD LOGISTICS TOP GREEN PROVIDER LIST.
In the News
PAGE 7
THE TENANTSWANSON’S SUPERVALU
101
RIVERSIDE AVE.
RIVERSIDE AVE.
SIMPSON AVE.SIMPSON AVE.
SWANSON’SSUPERVALU
YMCA
HOQUIAMPOLICE
DEPARTMENT
HOQUIAMTIMBERLAND
LIBRARY
10116,000
VPD
26,635 2019 POPULATION
26,8522024PROJECTED POPULATION
$59,526AVERAGEHOUSEHOLDINCOME
$45,159MEDIANHOUSEHOLDINCOME
1,140 TOTALBUSINESSES
11,085 TOTALEMPLOYEES
Within 5 Miles
PARCEL LINE
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SIMPSON AVE.
SIMPSON AVE.
LEVEE ST.
LEVEE ST.
10TH ST.
10TH ST.
9TH S
T.
9TH S
T.
HOQUIAMPOLICE
DEPARTMENT
16,000 VPD
LOCATION OVERVIEWSWANSON’S SUPERVALU
Income & Expense
PRICE $2,840,000CAPITALIZATION RATE 6.50%
CASH FLOW SUMMARYSCHEDULED INCOME PER SFBase Rent for the Period of: 4/1/2021 - 3/31/2022 $8.20Total Effective Gross Income (EGI) $8.20
OPERATING EXPENSES PER SFCAMSProperty TaxesInsuranceTotal Operating Expenses NNN -
NET OPERATING INCOME
$184,364$184,364
NNNNNNNNN
$184,364
1/11/2021 [ <www.CapitalPacific.com> ]
This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies.
FINANCIAL SUMMARYSWANSON’S SUPERVALU
Rent Roll
4/1/2021 - 3/31/2041
22,495
MONTHLY BASE RENT % INCREASE ANNUAL
RENT PSF CAP RATE
4/1/2021 $15,364 $184,364 $8.20 6.50%4/1/2022 $15,594 1.5% $187,130 $8.32 6.59%4/1/2023 $15,828 1.5% $189,937 $8.44 6.69%4/1/2024 $16,065 1.5% $192,786 $8.57 6.79%4/1/2025 $16,306 1.5% $195,678 $8.70 6.89%4/1/2026 $16,551 1.5% $198,613 $8.83 6.99%4/1/2027 $16,799 1.5% $201,592 $8.96 7.10%4/1/2028 $17,051 1.5% $204,616 $9.10 7.20%4/1/2029 $17,307 1.5% $207,685 $9.23 7.31%4/1/2030 $17,567 1.5% $210,800 $9.37 7.42%4/1/2031 $17,830 1.5% $213,962 $9.51 7.53%4/1/2032 $18,098 1.5% $217,172 $9.65 7.65%4/1/2033 $18,369 1.5% $220,429 $9.80 7.76%4/1/2034 $18,645 1.5% $223,736 $9.95 7.88%4/1/2035 $18,924 1.5% $227,092 $10.10 8.00%4/1/2036 $19,208 1.5% $230,498 $10.25 8.12%4/1/2037 $19,496 1.5% $233,956 $10.40 8.24%4/1/2038 $19,789 1.5% $237,465 $10.56 8.36%4/1/2039 $20,086 1.5% $241,027 $10.71 8.49%4/1/2040 $20,387 1.5% $244,642 $10.88 8.61%
CURRENT $15,364 $184,364 $8.20 6.50%
SWANSON'S SUPERVALU
Lease Term:
Size (SF):
RENT SUMMARY
DATE
OPTIONS
This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer
must verify the information and bears all risk for any inaccuracies.
LLeeaassee NNootteessComments: Absolute Net Lease - Tenant to lease-back the premises for a brand new 20-year term from close of escrow.
4, 5-Year Options w/ 1.5% Annual Increases.
1/11/2021 [ <www.CapitalPacific.com> ]
PAGE 11This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies.
RENT ROLLSWANSON’S SUPERVALU
Premise & Term
TENANT Swanson’s Foods of Aberdeen, Inc.
LEASE TYPE Absolute NNN
LEASE COMMENCEMENT Close of Escrow
LEASE EXPIRATION 20 Years
GUARANTEE Personal Guarantee by Operator
INCREASE 1.5% Annual Increases
OPTIONS 4, 5-Year Options
BUILDING SF 22,495 SF
LEASE ABSTRACTSWANSON’S SUPERVALU
Our brokers collaborate.
MEET THE ENTIRE TEAM HERE.
KEVIN ADATTO
SEAN TUFTS
MICHAEL HORWITZ
SCOTT FRANK
SEAN MACK
DAVID GELLNER
LANCE SASSER
PETER DUNN
MICHAEL LOWES
MAGGIE WOLK
AUSTIN COHN
Copyright © 2020 Capital Pacific LLC
CAPITALPACIFIC.COM
The information in this Executive Summary has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies. All rights reserved to Capital Pacific, LLC.
DAVID [email protected]: 206.747.4338
