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Improving Economy -San Bernardino has seen unemployment decline roughly 40% since 2010, resulting in a current unemployment rate of 8.30% with a job growth of nearly 2%.
Strong Surrounding Demographics – There are nearly 349,000 people with an average household income of over $48,000 with a five mile radius of the property.
Good Retail Synergy -The subject site sits adjacent to Inland Center Mall which has numerous national retailers such as Macy’s, Sears, Forever 21, GNC, Gamestop, T-Mobile, Verizon, Tilly’s, Zumiez, Vans, Victoria Secret, Bath & Body Works, Hot Topic, Journeys, Lids, Payless Shoesource, Sprint, and several others. Other major retailers in the area include Target, Big Lots, 99 Cent Only, O’Reilly Auto Parts, and Chevron.
Commitment to Site – The tenant, in early 2015 will be putting up a minimum of $150,000 to update the façade of the building to the newest Arby’s concept design. Additionally, the current tenant has been operating at the location since 1988.
Strong Trade Area – The area is home to several businesses and attractions. For example, just down of the street from the subject property lies San Manuel Stadium home of the Inland Empire 66ers, the single A baseball team for the Los Angeles Angels of Anaheim. Also just a few miles away sits San Bernardino Valley College, with an enrollment of over 12,000 students.
Long Term Passive Asset – The tenant recently signed a brand new 20 year absolute triple-net (NNN) with no landlord responsibilities. Additionally, the lease has two (2), five year option with rental escalations of 8% every five years including the option periods.